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Home » Topics » Inside Mortgage Finance » Originations

Originations
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Fannie/Freddie MBS Issuance Down Sharply in 4Q; Full Year Numbers Strong

January 7, 2016
John Bancroft
Freddie managed a bigger annual increase over 2014 levels than Fannie did, thanks in part to its more active program in securitizing seasoned loans.
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Industry Has Sit-Down with Cordray over CFPB’s TRID Rule

January 7, 2016
Thomas Ressler
Among the key TRID issues identified: continued software glitches, systems issues and confusion among technology vendors...
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After Reorganization, Impac Sees Increase in Correspondent Volume; Nonbank is in a Hiring Mode

January 7, 2016
Brandon Ivey
Impac Mortgage is currently recruiting sales and operational personnel...
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Walter/Ditech Bolts the Retail Sector; ‘Fewer’ Than 200 Employees Affected

January 7, 2016
Paul Muolo
During the first nine months of 2015, retail accounted for just $400 million of Ditech’s $19.6 billion of residential production...
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Short Takes: S&P Maintains Ratings on Quicken / How About $500 Million? / Seterus a Buyer of MSRs from Ocwen / Five Oaks Ends Repo Deal with BofA / JPM Names Muriungi New Servicing Chief

January 7, 2016
Paul Muolo
The IBM-owned Seterus has been buying mortgage servicing rights from Ocwen Financial...
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With Their Stocks in the Tank, Two Large Nonbanks Roll Out Debt Offerings and Plans to Buy Back Stock

January 7, 2016
PHH Corp. and Nationstar Mortgage – both top 10 ranked residential servicers – recently filed to sell debt securities, an odd situation for two companies struggling with low share valuations amid a lack of confidence among both investors and stock analysts. The lender/servicers also have unveiled stock buyback programs, though such announcements usually represent a desire to do so, and not a contractual obligation. PHH’s Form S-3 filing with the Securities and Exchange Commission offers...
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Bank Sales of MSRs Expected to Slow in 2016, Use of Subservicers Could Increase

January 7, 2016
A surge in sales of mortgage servicing rights by banks to nonbanks is likely over, according to industry analysts. As regulatory oversight remains a concern, the use of subservicing is expected to increase, with troubled loans handled by specialists. “The frequency of MSR transfers will remain low, even though buyer interest in MSR transfers may rise from 2015 levels,” according to analysts at Moody’s Investors Service. Analysts at Bank of America Merrill Lynch added...
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JPM Continues to Dominate (By Far) as a Securitizer of USDA Loans

January 6, 2016
George Brooks
Chase’s nine-month USDA volume translated into a 31.0 percent market share.
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HELOC 'Like' Product Hits the Market

January 6, 2016
Brandon Ivey
Depending on the product, loan amounts can range from $100,000 to $250,000...
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Mortgage CEO: ‘TRID Cost Us $500K in Profits’ Last Month

January 6, 2016
Paul Muolo
This CEO called the letter a "godsend."
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