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Bulk MSR Sales Heated Up in 2Q16 Along with Surge in ‘Co-Issuance’ Deals

July 26, 2016
John Bancroft
Some banks nearly tripled their bulk MSR acquisitions in 2Q16. SunTrust, for example, bought $7.41 billion of GSE servicing during the period, making it the third most active buyer in the market.
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Short Takes: Ginnie Mae MSR Demand: Deadly Slow? / FHFA IG Says Agency Shirking Its Duty / Summer Foreclosure Rates Looking Good (for Consumers) / Prepayment Speeds Spike / A New Hire at NCB

July 26, 2016
Carisa Chappell, Brandon Ivey, Paul Muolo, and Sherry Muolo
The IG accused the FHFA of shirking its responsibility to effectively examine Fannie Mae and Freddie Mac...
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Megabank Originations Surged in 2Q16, but Mortgage Profits Sagged

July 25, 2016
John Bancroft
The bigger issue was a sharp drop in net servicing income…
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In a Move to Boost Liquidity, Ginnie Will Update ‘Acknowledgment’ Agreement

July 25, 2016
Paul Muolo
Several large banks accept the current acknowledgement agreement, while others avoid it like the plague.
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Small Banks and Nonbanks Rally Around Bill that Provides CFPB Relief

July 25, 2016
Thomas Ressler
The Community Mortgage Lenders of America said the bill strikes a balance of maintaining safe lending while freeing up resources so more consumers can obtain a mortgage.
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Greenwich-Based Investment Advisor Reveals 8.3 Percent Stake in PHH

July 25, 2016
Paul Muolo
Who is Silver Point and why does it now own so much of PHH?
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IMA, Phoenix Capital Out With Bulk MSR Portfolios

July 25, 2016
Paul Muolo
Bids on both packages are due later in the week.
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Short Takes: Big Servicing Markdowns for Nationstar and Walter? / The Tally, Thus Far, on MSR ‘Marks’ / Five Years and $7,000 / Victorian Joins CMLA / A Promotion at Capital Bank

July 25, 2016
Paul Muolo
Since the CFPB was born, the cost to originate a home mortgage has exploded...
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Half of Outstanding Agency Mortgages Have Interest Rates Higher than 4.000%

July 22, 2016
Brandon Ivey
Wells Fargo handled 20.2 percent of the $841.42 million in agency mortgages outstanding at the end of the second quarter of 2016 that had interest rates between 4.510 percent and 5.000 percent.
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With Threat of Servicing Moving Away from Ocwen, Altisource Works to Diversify

July 22, 2016
Brandon Ivey
With the possibility of investors transferring non-agency servicing rights away from Ocwen Financial, Altisource Portfolio Solution has put an emphasis on providing services to other companies.
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