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Servicing
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MIAC Offering $2.1 Billion of GSE and Ginnie MSRs. Larger Deals Pending?

July 19, 2018
Paul Muolo
Meanwhile, several large MSR packages are currently out for bid.
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Short Takes: Investors Unite is Not Happy / Are the GSEs ‘Zombie’ Like? / Non-QM Lender Verus Hikes Loan Cap to $5 Million / LoanSnap Raises More Capital / A New Hire for Servicing Advisor MorVest

July 19, 2018
Brandon Ivey and Paul Muolo
Of course, there are some in the industry who will argue Fannie and Freddie are hardly zombie-like at all...
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CFPB to Shrink Advisory Group Memberships, Cut Costs by More Than Half

July 18, 2018
Yemeng Yang
The budget for the three advisory groups will be limited to $150,000 each per year.
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U.S. Bancorp Posts a 10 Percent Gain in Mortgage Production

July 18, 2018
Paul Muolo
The Minneapolis-based depository posted $191 million of mortgage banking revenue for the second quarter…
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Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC

July 18, 2018
Paul Muolo
The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.”
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Nationstar Reports 2Q18 Results: Income and Servicing Down, Originations Up

July 17, 2018
Paul Muolo
Nationstar said it continues to “evaluate significant servicing growth opportunities” and expects to end 2018 with at least $530 billion of MSRs...
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Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep

July 17, 2018
Carisa Chappell
The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director...
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Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

July 16, 2018
John Bancroft, Brandon Ivey, and Paul Muolo
Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...
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A 23 Percent Increase in Home Lending for Bank of America

July 16, 2018
Paul Muolo
Bank of America no longer breaks out mortgage income separately.
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Phoenix Announces GSE Flow MSR Auction

July 16, 2018
Paul Muolo
The average loan size could be as high as $227,000…
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