Banks Toy with Creating an ‘FHA-Like’ Mortgage for Portfolio; But Can it Fly? May 5, 2016 Paul Muolo FHA lending via the retail channel by many of the nation’s largest depositories has plummeted in recent years...Read More
Too Much Regulation? A 70 Percent Spike in Mortgage Exams at the CFPB Last Year; Nonbank Servicers Under Intense Scrutiny Compared to Peers May 4, 2016 Thomas Ressler The exam outlook is even worse for nonbank mortgage servicers..Read More
Hammered by MSR Writedowns, Nationstar Posts $133 Million Loss for 1Q16 May 4, 2016 Paul Muolo When are falling rates a bad thing? Answer: When you own a ton of mortgage servicing rights.Read More
At Least Someone in the Mortgage Industry is Thinking About Climate Change: Freddie Mac May 4, 2016 George Brooks A past study commissioned by FEMA estimated that the areas designated as special flood areas will increase by 45 percent by the end of this century. In coastal areas, such designations would increase by 55 percent.Read More
Good News for the GSEs: FHFA Raises the Multifamily Financing Caps May 4, 2016 Carisa Chappell According to figures compiled by Inside Mortgage Finance, the GSEs have a multifamily market share of 78.3 percent.Read More
‘Marketplace’ Lender SoFi Gets Fannie Approvals; Continues to Sell Jumbos into the Secondary May 4, 2016 Paul Muolo SoFi, also known as a “peer-to-peer” lender, said it admires Fannie Mae’s “commitment to technological innovation in mortgages…”Read More
Short Takes: The $55 Billion Subservicing Contract Mystery / Who Lost It, Anyone? / A Shakeout for P2P? / MSR Auctions Increase / Another Step Down for Ocwen’s Stock May 4, 2016 Paul Muolo Sometimes when a subservicer – especially a publicly traded one – snags a new client, the company publicizes the event...Read More
Banks Report Modest Improvement in Mortgage-Banking Income for 1Q16 May 3, 2016 John Bancroft What some bank-watchers may not realize: Most depositories do not factor in personnel and other key expenses when calculating mortgage-banking income…Read More
TRID Architect: The CFPB Was Caught Flat-Footed by the Rule May 3, 2016 Thomas Ressler Attorney Richard Horn, who helped write the TRID rule, blamed the CFPB, in part...Read More
Walter’s Stock Crushed After $173 Million Loss For 1Q; Inks Deal to Sell MSRs May 3, 2016 Brandon Ivey Walter/Ditech originated $5.0 billion of new mortgages in 1Q16, down 10.7 percent from the previous quarter. Read More