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On the Senate Banking Committee a Consensus for GSE Reform: An Explicit MBS Guaranty is Needed

June 29, 2017
John Bancroft
Committee Chairman Mike Crapo, R-ID, listed maintaining the TBA market and the 30-year fixed-rate mortgage among his important principles for reform…
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(Certain) Nonbanks Ponder the Unthinkable: Owning a Depository

June 29, 2017
Paul Muolo
“This is a big step for them [Movement],” said consultant David Lykken, president of Transformational Mortgage Solutions.
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NAR Asks FHFA to Allow GSEs to Build Capital; Treasury and Panels Get CC’d

June 28, 2017
Paul Muolo
Under NAR's plan, a portion of GSE profits would be deposited into a liquidity fund controlled by the FHFA.
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CFPB Decides to Cut Mortgage Servicers Some Slack for Three Days

June 28, 2017
Thomas Ressler
The Bureau says it understands the industry’s concerns…
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Freedom Inks Deal with NYCB; CEO Says Nonbank is Working on ‘Several’ MSR Acquisitions

June 28, 2017
Paul Muolo
Overall, NYCB will earn, on a pre-tax basis, $90 million by exiting the residential finance sector…
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Short Takes: Uncle Sam will be $5B Richer on Friday (GSE Money) / Zilch for the Others / Break Up Fannie and Freddie? / Something to Ponder / A Promotion at Guild Mortgage

June 28, 2017
Paul Muolo
Meanwhile, holders of the GSE junior preferred stock receive nothing from Fannie and Freddie in terms of dividends.
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Poll: Industry Wants Fannie and Freddie Preserved with ‘Existing Operations’

June 27, 2017
Paul Muolo
Just 18 percent of respondents said they do not want the GSEs preserved in their current state...
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Short Takes: Earnings Season is Upon Us / Business Must be Good at PennyMac / Fidelity National Makes an Acquisition / It’s Not a Malware Problem / Home Loans by (Yes) Homie

June 27, 2017
George Brooks and Paul Muolo
We kid you not: Home loans from a firm called Homie...
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Surprise: A Decline in Bank and Thrift Holdings of First Liens

June 26, 2017
Brandon Ivey
Wells Fargo, which has the largest portfolio of first-lien mortgages, reported a 3.2 percent drop in its holdings, down to $272.72 billion as of the end of the first quarter.
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Fannie Sentiment Survey: Looser Credit, Fewer Servicing Sales

June 26, 2017
Paul Muolo
The new sentiment survey also found that “slightly more lenders” reported they expect to decrease the share of MSR sold...
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