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Home » Topics » Inside Mortgage Finance » Servicing

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Many Metro Markets Witnessed Record Home Price Highs in 2016, Distressed Sales Down

February 9, 2017
Home prices in 2016 soared as a number of metropolitan areas reached record new home price highs, according to ATTOM Data Solutions’ yearend report on home sales. Among 201 metropolitan statistical areas with populations of at least 200,000, 44 percent hit new all-time home price peaks last year. Those areas include Dallas-Fort Worth ($230,571), Houston ($214,795), Atlanta ($181,000), Boston ($390,000) and San Francisco ($720,000). Three Ohio markets, Cincinnati, Columbus and Dayton, also reached...
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The CFPB Focuses on a Traditional Interpretation of RESPA Violations

February 8, 2017
Thomas Ressler
The CFPB said Prospect Mortgage entered into agreements to buy leads from more than 200 different counterparties, most of which were real estate brokers.
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Mortgage Hiring Increased in December, but Several Lenders are Taking a ‘Wait and See’ Approach

February 8, 2017
Paul Muolo
CMG Mortgage founder and CEO Chris George said that when it comes to hiring he's mostly in a "holding pattern" right now, with exceptions...
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Short Takes: Fix & Flip Lender Targets Multifamily Sector / Branching Out Into Florida / No Word on Carson and His Deputy / New Rez Tests ABS Market / Fed General Counsel Alvarez Announces Retirement

February 8, 2017
Brandon Ivey and Paul Muolo
The full Senate could vote on the Ben Carson nomination next week...
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Blackstone in Takeover Talks with ‘Fix & Flip’ Lender Jordan Capital

February 7, 2017
Paul Muolo
Over the past two years, the Wall Street giant has purchased a handful of nonbank lenders, including Gateway Funding...
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Fitch Gives ‘Average’ Ratings to Nonprime Lenders Angel Oak, Citadel and Deephaven

February 7, 2017
Brandon Ivey
The assessment matches the rating service’s “grade” on Caliber Home Loans, which issued the first AAA-rated nonprime MBS backed by new originations.
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Short Takes: Blackstone’s Tentacles / MBA Sides with PHH in CFPB Case / Banks Might Ease GSE Standards / The ‘Silver Bullet’ to Replace LOs with Machines / Stonegate Hires SunTrust Executive

February 7, 2017
Paul Muolo and Thomas Ressler
Correspondent lending accounts for 21.4 percent of Stearns’ total origination volume, based on fourth quarter figures from Inside Mortgage Finance…
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Citigroup’s Exit from Servicing, the First Step in a Total Withdrawal from Mortgages?

February 6, 2017
Paul Muolo
Dave Akre, who runs Whole Loan Capital, noted, “How can they stay in the mortgage origination business when servicing is a huge part of the borrower experience?”
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PHH Promises More Disclosures on its Future When it Releases 4Q16 Results

February 6, 2017
Paul Muolo
PHH Corp., for years, has been trying to unload its entire mortgage franchise, a process complicated by both regulatory sanctions and large accounting losses tied to declining interest rates.
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PennyMac Financial’s 4Q16 Results: Originations Rise but Earnings Decline; MF Rollout in the Works

February 3, 2017
Paul Muolo
PFSI is forecasting that by the second half of 2017 it will be originating $40 million to $60 million per quarter in multifamily loans.
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