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At Least Someone in the Mortgage Industry is Thinking About Climate Change: Freddie Mac

May 4, 2016
George Brooks
A past study commissioned by FEMA estimated that the areas designated as special flood areas will increase by 45 percent by the end of this century. In coastal areas, such designations would increase by 55 percent.
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Short Takes: The $55 Billion Subservicing Contract Mystery / Who Lost It, Anyone? / A Shakeout for P2P? / MSR Auctions Increase / Another Step Down for Ocwen’s Stock

May 4, 2016
Paul Muolo
Sometimes when a subservicer – especially a publicly traded one – snags a new client, the company publicizes the event...
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Banks Report Modest Improvement in Mortgage-Banking Income for 1Q16

May 3, 2016
John Bancroft
What some bank-watchers may not realize: Most depositories do not factor in personnel and other key expenses when calculating mortgage-banking income…
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TRID Architect: The CFPB Was Caught Flat-Footed by the Rule

May 3, 2016
Thomas Ressler
Attorney Richard Horn, who helped write the TRID rule, blamed the CFPB, in part...
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Walter’s Stock Crushed After $173 Million Loss For 1Q; Inks Deal to Sell MSRs

May 3, 2016
Brandon Ivey
Walter/Ditech originated $5.0 billion of new mortgages in 1Q16, down 10.7 percent from the previous quarter.
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Freddie Books $4.56 Billion Hedging Loss for 1Q. But Net Loss is Just $354 Million. No Assistance From Uncle Sam (At This Time)

May 3, 2016
Paul Muolo
For the past several weeks, speculation was rife that if the yield on the 10-year bond remained under 2.0 percent at March 31 Freddie might book a large hedging loss...
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Is the Mortgage M&A Market Dead in the Water? No More ‘Franchise’ Deals?

May 3, 2016
Paul Muolo
Larry Charbonneau, who runs a boutique advisory firm, said, “The number of willing sellers doesn’t meet the number of willing buyers...”
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Short Takes: Freddie CEO: It’s a Fact of Life / Industry Says Stop the Madness, Let the GSEs Build Capital / The Betting is that Watt Will Pull the Recap Lever / Mel’s Nightmare / Look for Some Type of PHH Sale

May 3, 2016
Carisa Chappell and Paul Muolo
Some mortgage lobbyists predict Watt – a lawyer by training and a former Congressman – will pull the recap lever by the end of the Obama administration...
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Bulk Servicing Transfers Take it on the Chin in 1Q16

May 2, 2016
John Bancroft
An estimated $24.52 billion of GSE loans were delivered into MBS during 1Q16 with the servicing rights being taken over by a servicer not affiliated with the loan seller.
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‘Middle Tier’ Servicers Keep Gaining GSE Market Share; The Big Boys Give Up?

May 2, 2016
John Bancroft
As a group, the 45 companies that ranked sixth through 50th had a combined portfolio of $1.668 trillion, equal to 37.5 percent of the market.
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