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Mortgage Complaints Down Without Exception, Data Show

April 10, 2017
Consumer complaints to the CFPB about mortgages are down in every single category tracked by this publication, and in fact show double-digit declines in all but one grouping, according to a new analysis and ranking by Inside the CFPB. Total mortgage-related criticisms to the bureau came to a relatively scant 8,334 for the period ending March 31, 2017, the second lowest first quarter total in the five-plus years since the agency began collecting such data in the fourth quarter of 2011. That number represents a decline of 14.8 percent from the fourth quarter and an even larger drop of 23.0 percent from the same period one year ago.On the loan modification front, borrower gripes fell to 2,987 during 1Q17, ...
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Mortgage Complaints Down Without Exception, Data Show

April 10, 2017
Thomas Ressler
Compared to the fourth quarter of last year, mortgage complaints declined by 14.8 percent.
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Phoenix Capital Selling $2.5 Billion of Bulk GSE Servicing Rights

April 10, 2017
Paul Muolo
It’s not often that FHLB servicing rights hit the auction block…
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Mixed Performance for Nonbanks, but Quicken Strong

April 10, 2017
Brandon Ivey
Moody’s notes that the privately held Quicken Loans has strong profitability “due to its solid franchise position and strong capital levels…”
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UWM Funds $4.6 Billion in 1Q, Expects 2Q to be Much Bigger

April 10, 2017
Paul Muolo
UWM is the nation’s largest table funder in the nation, followed by Caliber Home Loans and Stearns Lending, according to a full-year 2016 ranking from Inside Mortgage Finance…
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Short Takes: Ocwen’s $6 Million Man / 21 Board Meetings in One Year / GSE Reform on Track for Next Year? / Senate Meeting on GSE Reform / FirstKey’s SFR Deal

April 10, 2017
Paul Muolo
Cowen assigns a 65 percent probability to a GSE bill becoming law next year…
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What We’re Hearing: Ocwen and Walter, Two Peas in a Pod? / The Shorts Have Made Their Money and Moved On / Will loanDepot Ever Go Public? / Freddie Bullish on MF / When Fannie Mae Earned More Money than the Roman Empire

April 7, 2017
Paul Muolo
One GSE watcher called it, "The biggest company quarterly profit since the Roman Empire, adjusted for inflation of course.”
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ABA: Small Banks are Not Selling Servicing Rights

April 6, 2017
Brandon Ivey
Despite what the experts anticipated, small banks are staying out of the MSR market...
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Angel Oak Tops Contributors to New Nonprime MBS from Deephaven

April 6, 2017
Brandon Ivey
Deephaven is headed by former Goldman Sachs managing director Matt Nichols, who earlier this year predicted strong growth for the correspondent buyer of non-QM loans…
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Is a Sale an Option for the Struggling Walter/Ditech?

April 6, 2017
Paul Muolo
“Our ability to maintain or grow our servicing business may depend, in part, on our ability to acquire servicing rights from, and/or enter into subservicing contracts with, third parties,” the company said in an SEC filing.
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