Citadel Servicing CEO: $50 Billion Available to Buy Nonprime Mortgages July 27, 2016 Brandon Ivey Caliber executive William Pendleton noted the nonprime MBS recently issued by Lone Star Funds (which owns Caliber) will help the lender significantly reduce interest rates on new originations.Read More
Home Point Financial Inks Deal to Buy Emery Financial’s Assets July 27, 2016 Paul Muolo Home Point, which has backing from a PE firm, may have its ears open to future deals…Read More
Short Takes: Mortgage M&A Mania Finally Arrives? / Five Oaks Halts Jumbo Aggregation / Angel Oak Rolls Out Investor NI Product / Fannie Tweaks High-LTV Guidelines / Mountain States Lead the Way, Says Black Knight July 27, 2016 Brandon Ivey, Macie Jones, and Paul Muolo Nonprime lender Angel Oak Mortgage Solutions is now offering a “no-income” loan to investors with credit scores as low as 660...Read More
Ocwen Lost $87.3 Million in 2Q16, but Originations Increased 35 Percent July 27, 2016 Paul Muolo However, one bright spot was originations, which increased sequentially by 35 percent to $1.32 billion.Read More
Thanks to ‘Brexit’ Vote and Resulting Refis, Origination Capacity is Strained, and Then Some July 26, 2016 Brandon Ivey Applications and refis are so robust that production "capacity" is now a major concern...Read More
Top 40 Originator EverBank in Takeover Talks with ‘Well-Respected’ Financial Services Firm July 26, 2016 Paul Muolo However, EverBank has been cutting back its presence in residential finance, a trend that was cemented when Tom Wind left the company in December...Read More
Flagstar Grows Originations by 31.1 Percent in Second Quarter July 26, 2016 Paul Muolo Flagstar capitalized its residential servicing portfolio at 99 basis points at June 30, compared to 106 bps at March 31.Read More
Short Takes: Ginnie Mae MSR Demand: Deadly Slow? / FHFA IG Says Agency Shirking Its Duty / Summer Foreclosure Rates Looking Good (for Consumers) / Prepayment Speeds Spike / A New Hire at NCB July 26, 2016 Carisa Chappell, Brandon Ivey, Paul Muolo, and Sherry Muolo The IG accused the FHFA of shirking its responsibility to effectively examine Fannie Mae and Freddie Mac...Read More
Megabank Originations Surged in 2Q16, but Mortgage Profits Sagged July 25, 2016 John Bancroft The bigger issue was a sharp drop in net servicing income…Read More
In a Move to Boost Liquidity, Ginnie Will Update ‘Acknowledgment’ Agreement July 25, 2016 Paul Muolo Several large banks accept the current acknowledgement agreement, while others avoid it like the plague.Read More