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HSBC Hit with $33 Million Fine Over Flawed Foreclosures

January 10, 2017
Thomas Ressler
As part of the settlement, the OCC lifted certain business restrictions that had been placed on HSBC…
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Short Takes: Gain-on-Sale Let-down? / About Those MSR ‘Marks’... / Ocwen Attorney Joins Philly Law Firm / Go with the ‘Waterfall’ / Vegas-Based Lender Hires Sales Chief

January 10, 2017
Paul Muolo and Brandon Ivey
As gain-on-sale margins decline, MSR marks will rise...
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Nationstar Hires Capital One Executive Patel as EVP and Chief Risk Officer

January 10, 2017
Paul Muolo
Patel also will serve as a member of the lender's executive management team.
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AMC Acquires Origination and Servicing QC Services from Stewart

January 9, 2017
Brandon Ivey
AMC acquired Stewart’s residential due diligence and servicing functions, including credit, compliance, origination and servicing quality control reviews.
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Short Takes: FHA Premium Cut Has Negative Impact on MI Stocks / Carson Should Expect a Lot of Questions on the MIP / Of Mortgages and Brains / FHLBs Get More Flexibility on Collateral

January 9, 2017
Paul Muolo and Carisa Chappell
Mortgage insurance stocks aren't have a good day. Blame the FHA MIP cut?
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The Big Boys of Servicing Suck Wind; Smaller Shops Shine

January 6, 2017
Brandon Ivey
Growth was far from uniform among servicers, Inside Mortgage Finance found…
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Angel Oak Gears Up for New Non-Agency MBS, While PIMCO and Citadel May Tap the Market Later in 2017

January 6, 2017
With two of the nation’s largest originators of nonprime and non-qualified mortgages hoping for a record production year in 2017, the mostly anemic securitization market for these types of credits could receive a real boost. But the big question remains: how much will the two firms – Angel Oak Mortgage Solutions and Citadel Servicing Corp. – tap the MBS market? In 2016, the Irvine, CA-based Citadel funded...
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ABA Calls for Expanded ‘Qualified Mortgage’ Language, Housing Finance Reform

January 6, 2017
Thomas Ressler
ABA seeks the restoration of “balance to the regulatory process,” including Consumer Financial Protection Bureau reform…
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Precious-Metals Dealer Issues $100 Million ABS Backed by Loans Secured by Coins and Bullion

January 6, 2017
Monex Deposit Company issued a $100.0 million ABS backed by loans on silver and other coins in late December, according to Morningstar Credit Ratings. The deal received a AA rating, with the rating service noting concerns about the volatility of silver prices and regulatory issues. MDC is a precious-metals dealer established in 1987 whose predecessor dates back to 1967. Scala Funding Company 2016-1 consists of 1,854 accounts with an average balance of $51,760. The loans backing the ABS are offered...
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What We’re Hearing: What’s Up with Walter Investment? / MSR ‘Mark-up’ Mania / Rates Heading South, a Bit / Layoff Rumors and Actual Layoffs / Bad News for GSE ‘Recap and Release’?

January 6, 2017
Paul Muolo
With rates falling again, lenders may be rethinking any planned layoffs...
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