FHFA Readies Successor Program to HARP. Name to Follow August 25, 2016 Carisa Chappell FHFA estimates there are roughly 300,000 homeowners potentially eligible to refinance through HARP.Read More
Short Takes: Stonegate Mortgage a Buyer of Other Firms? / The Other Stonegate Buys a Florida Bank / The Kings of the Channels / A New Permanent CEO for Clayton / Former FHFA Director DeMarco Sets the Record Straight August 25, 2016 Paul Muolo From what we understand, Stonegate Bank is not very active in residential lending, but Insignia is…Read More
CFPB Considering Registration System for Nonbanks, Mortgage Firms Included August 24, 2016 Thomas Ressler A CFPB nonbank registration system might be used to collect financial and operational data and information on a lender’s organizational structure…Read More
Redwood Shoots Down Report on Suspension of its Jumbo MBS Program August 24, 2016 Brandon Ivey In recent years, Redwood has favored whole loan sales to jumbo MBS due to pricing considerations, but the company has continued to issue jumbo MBS.Read More
A Small Revival for Subprime? Two New MBS Deals Hit the Market. Nomura Had a Role in Both August 24, 2016 Paul Muolo In total, there are 573 loans backing the Deephaven MBS…Read More
Trade Groups with Nonbank Members Ask the CFPB: How About Us? August 24, 2016 Carisa Chappell Not only are CHLA and CMLA unhappy with the lack of representation, they want the CFPB to form a “Community Mortgage Banking Advisory Council...” Read More
Short Takes: Not Everyone Loves the New Fannie, Freddie Application / Okay, Who Bought the Subprime Deals? / PennyMac Gets Repo Line from JPM / MountainView Selling MSRs / Apps Fall August 24, 2016 Paul Muolo One source said that in the Angel Oak transaction, bidding started with eight investors… Read More
New GSE Application Allows for Cell Phone Numbers, Email Address, More. Industry Applauds August 23, 2016 Paul Muolo Regarding the omission of cell phone numbers and email addresses, one Florida-based mortgage executive said, “It drove us crazy – of all things not to have in this day and age.”Read More
The Final Tally: Nonbanks Battered by MSR Accounting in 2Q16 August 23, 2016 John Bancroft Nine nonbanks reported a combined net loss of $339.5 million on mortgage-banking activity for 2Q16, but that was actually an improvement...Read More
Short Takes: A 25 Percent Chance Uncle Sam Will Lose the GSE Lawsuits / Risk-Sharing Depletes Shareholder Value / Former Fannie CEO Mudd Settles with SEC / Mudd’s Second Act Didn’t Last Long / A New Hire for Closing Corp. August 23, 2016 Paul Muolo KBW believes all the GSE risk-sharing deals will “put further pressure” on the long-term value of the stocks of Fannie and Freddie…Read More
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