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Fitch Assigns Subprime Servicer Rating to Citadel. Could a ‘Rated’ Nonprime MBS Deal be Next?

December 21, 2016
Brandon Ivey
The company doesn’t outsource or offshore any of its servicing activities.
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Short Takes: NAR Warns House Speaker Ryan Not to Mess with Housing / The Ramifications of Making Changes to the Tax Code / Miami Under Water and Not in Terms of Home Equity / RPM in the Hunt? / Seniors and Home Equity

December 21, 2016
Paul Muolo
A new report from ATOM Data Solutions says concerns about rising sea levels “remain a rarity among most South Florida homeowners and investors"...
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Ginnie Mae President Ted Tozer Set to Leave Jan. 20, but Would Like to Remain as a Consultant (For a While)

December 20, 2016
Paul Muolo
Since the election, Tozer has met with the Trump Department of Housing and Urban Development “landing team” once, for a 90 minute meeting that included Shawn Krause…
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The NYCB-Astoria Financial Merger is Kaput

December 20, 2016
Brandon Ivey
Consumer advocates were among the groups that opposed NYCB’s acquisition of Astoria…
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Short Takes: MSR Markups Could be Off the Charts / Good News for Ocwen, Nationstar, PHH, Others… / Habib on Rates / Greystone’s Freddie MF Loan / Selene Unveils Staff Changes

December 20, 2016
Paul Muolo
Barry Habib of MBS Highway told us the Dow will hit 20,000 and then around mid-January stocks will pull back but “not crash.”
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A Bullish Sign for Fannie and Freddie? Rep. Mulvaney as Trump’s OMB Director?

December 19, 2016
Paul Muolo
Treasury controls the senior preferred stock of the GSEs. The junior preferred and common continues to trade in the over-the-counter market and through private transactions. The latter two classes of stock are considered speculative in nature.
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Short Takes: PHH Files Layoff Notice with NYS / Jobs Will be Offered to Certain Employees / Altisource Wanted to Buy LPS / Mortgage Network Names New President

December 19, 2016
Paul Muolo and Brandon Ivey
PHH had been subservicing the loans for HSBC and the new owner of the MSRs had opted to bring the loans inhouse instead of using PHH…
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And the Beat Goes On: Nonbanks Keep Taking MSR Share from Depositories

December 16, 2016
John Bancroft
Commercial banks reduced their securitized servicing by 1.9 percent during the third quarter, though they still accounted for 52.5 percent of that market.
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As Rates Move Higher, a New Found Optimism Hits the MSR Market. Can it Last?

December 16, 2016
Paul Muolo
The 'Trump Bump' Hits the MSR market as well...
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What We’re Hearing: As Rates Move Higher, Disaster Looms for the Mortgage Industry (Not Really) / The Stock Market Will ‘Correct’ on This Date… / New Fannie Survey Finds Lenders Glum / He’s Back: Nonprime Veteran Jon Daurio

December 16, 2016
Paul Muolo
If rates don’t improve in the next few months, one area where lenders will try to save money is on loan officer compensation...
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