Bayview Issues $226.4 Million Non-Agency MBS Backed by Seasoned ‘Daily Simple Interest’ Mortgages December 29, 2016 Brandon Ivey The new MBS is backed by 4,274 mortgages that have seasoned for an average of 10.6 years.Read More
To Privatize (or Not) Fannie and Freddie, That is the Question December 29, 2016 Carisa Chappell Tim Howard, a former Fannie Mae CFO, called Mnuchin’s comments “a welcome reset…”Read More
On the Rise: FHA Loan ‘Defects’ December 29, 2016 George Brooks The leading cause of adverse findings was incomplete or missing loan documents... Read More
Short Takes: A Host of Approvals Needed on PHH Deal / A $10 Million Termination Fee / Sell and Subservice / And the Ginnies Go To… / New Hire for Gateway Mortgage December 29, 2016 Paul Muolo New Residential is entitled to a $10 million termination fee if the sale falls apart...Read More
When it Comes to Jumbo Lending, Retail Channel Dominates, By Far December 29, 2016 John Bancroft Wells Fargo, for example, reported that 90.7 percent of its third-quarter jumbo originations came through the retail channel…Read More
Mortgage Insurance Stocks Have Been on a Tear of Late. Can it Last? December 29, 2016 Paul Muolo Rising interest rates are good for MI stocks because it translates into greater “persistency…”Read More
Both Sides of Mortgage Banking Posted Significant Profit Gains in 3Q16 December 28, 2016 John Bancroft JPMorgan Chase was the only firm that saw a decline in production-related revenue during the third quarter…Read More
2019: A $3 Trillion Year for Originations? December 28, 2016 Paul Muolo This year, fundings could reach upwards of $2.00 trillion based on activity through the first nine months of the year.Read More
Short Takes: Okay, Maybe Trump Can Fire Cordray / Relying on the DOJ’s Office of Legal Counsel / It all Started with PHH / New Turf for WVA Brokerage Firm / Distressed Mortgage Deal December 28, 2016 Brandon Ivey and Paul Muolo The Mortgage Center, a West Virginia-based loan brokerage firm managed by Marc Savitt, plans to open new offices in Florida and New Mexico early next year…Read More
Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB December 27, 2016 If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg. Read More