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What We’re Hearing: Being Heard / Another Barn-Burner of a Quarter for Fannie and Freddie? / Complicating President Trump’s Pick for a New FHFA Chief / Defending GSE Pilot Programs / Meeting PMIERs 2.0 / Ocwen Ready to Crank Up the MSR Buying Machine? / S

September 28, 2018
Paul Muolo
If Ocwen reenters the servicing market as a buyer it will be doing so at a time when MSR prices are the highest they’ve been all decade...
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A Sign of Demand: Record Attendance at ABS East Conference as Investors Thirst for Yield

September 28, 2018
Brandon Ivey
A number of investors noted that it’s difficult to find structured-finance products with attractive yields.
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Mortgage Industry (Mostly) Ready for TRID 2.0 Compliance, but…

September 28, 2018
Yemeng Yang
“I think everyone is on board,” said Colgate Selden, a former CFPB attorney and now managing director and head of regulation and compliance at Promontory MortgagePath.
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Redwood Readies Eighth Prime Non-Agency MBS Deal of the Year, UWM Top Contributor Yet Again

September 28, 2018
Brandon Ivey
The nonbank wholesaler, a unit of United Shore Financial Services, has been the top contributor to six of Redwood’s prime non-agency MBS of 2018.
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HUD Plans to Revisit Downpayment Assistance Rule as Stakeholders Warily Eye Tribal Second-Loan Program

September 27, 2018
The Department of Housing and Urban Development is planning this fall to seek comment on the use of FHA downpayment assistance from programs run by entities owned by Native American tribes.
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A $490k Loan Limit in 2019?

September 27, 2018
If current trends hold in the official barometer used for adjusting conforming loan limits, look for the baseline limit to go up about 8 percent next year.
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Short Takes: Hensarling’s Long Goodbye / Not a Candidate to Head the FHFA / 15 More Recordings / A Large Non-QM MBS? / A Name Change for Sutherland

September 27, 2018
Paul Muolo and Carisa Chappell
Rumors were floating around this week that a large non-QM securitization deal could be in the works...
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Non-QM Lenders See a 10 Percent Market Share as a Reasonable Goal

September 27, 2018
Brandon Ivey
Expanded-credit mortgages accounted for less than 3 percent of total first-lien originations in the first half of this year.
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Short Takes: Speculation on What Mel Watt Might Say / Ocwen Schedules a ‘Special’ Meeting of Shareholders / NOLs of Roughly $400 Million / In the Event of a Change of Control? / FoA Rolls Out Second-Lien Reverse

September 26, 2018
Paul Muolo
Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change.
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First Up to Testify Thursday at the HFSC FHFA Oversight Hearing: Simone Grimes, Mel Watt’s Accuser

September 26, 2018
Carisa Chappell
Simone Grimes, who holds the title of special advisor, is still employed by the agency.
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