Industry Doubts Trump’s Proclamation on Dismantling of Dodd-Frank Act May 18, 2016 Paul Muolo DFA also created the Consumer Financial Protection Bureau, an agency that seems almost universally loathed by the mortgage industry.Read More
Short Takes: The TRID Mess, It’s Not Quite Over… / NAIHP Chief Doesn’t Hold Back on his Views of the CFPB / United Wholesale Rolls out New Jumbo Product / So Long S.A. / New Hires for Envoy Mortgage May 18, 2016 Paul Muolo UWM is offering “rate incentives” for jumbo borrowers with FICO scores north of 740, and a promise to close the loan in 25 days or less… Read More
After Nonbanks Suffer MSR Hits, Kroll Questions Utility of GAAP Accounting May 17, 2016 Brandon Ivey KBRA noted that most nonbanks with large holdings of MSRs don’t hedge large swaths of their portfolios…Read More
Private Money Servicer FCI Gets Business from Unlicensed Servicers May 17, 2016 Paul Muolo At March 31, the Anaheim, CA-based FCI had $4.2 billion of servicing contracts on its books.Read More
Short Takes: The GSEs Get Religion on Servicing Fees? / A ‘Seminal’ Change? / Oh, Carol. Former FHA Chief Racks Up Ocwen Shares / Searching for Principal Reduction Candidates / A New Hire for Stonegate May 17, 2016 Paul Muolo “This is a seminal change,” one GSE observer told us.Read More
A New Idea on GSE Reform: Turn Fannie and Freddie Over to Ginnie? May 16, 2016 Carisa Chappell To significantly reduce credit risk, all mortgages sold to Ginnie 2.0 would require a private credit enhancement attached to the loans…Read More
Subprime Servicing Drops, Regulatory Issues Do Not May 16, 2016 Brandon Ivey Ocwen Financial continues to rule the roost in terms of subprime servicing…Read More
PennyMac Financial Units in $300 Million Offering of Private Notes; More MSR Buys? May 16, 2016 Paul Muolo PennyMac Financial is a top-10 ranked lender and may soon break into the top-10 in servicing as well…Read More
DOA (For Now): The Mortgage IPO Market May 13, 2016 Paul Muolo The poor stock performance of this group has bloodied the water for mortgage IPOs...Read More
Uncertainty Remains on Capital Requirements for Nonbank Servicers May 13, 2016 Brandon Ivey Accelerated growth through the acquisition of mortgage servicing rights is an undertaking that remains challenging to the industry, said the MMC…Read More
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