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Executive of GSE ‘Shareholder Rights Group’ Sues, Seeking Access to Fannie/Freddie Corporate Records

March 15, 2016
Carisa Chappell
Tim Pagliara, executive director of Investors Unite, is the lone plaintiff in this case...
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Short Takes: Do the GSEs and Ginnie Know About WJB? / 500 Employees / The WJB-RPM LO Case / Angel Oak Rolls Out New Product / EverBank Sells Debt

March 15, 2016
Paul Muolo
At last check, W.J. Bradley employed roughly 500 workers...
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FHA, VA Call for Forbearance in Flint, MI, Over the Water Contamination Crisis

March 14, 2016
George Brooks
HUD’s Single Family Policy Handbook authorizes lenders to order testing or remediation to ensure that the property’s public-water supply has acceptable levels of contaminants.
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New Player in Servicing Sales MorVest Capital Hires National Sales Director

March 14, 2016
Paul Muolo
MorVest has represented only sellers of mortgage servicing rights, but that may change...
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Rising Share Price Effects Nationstar’s Stock Repurchase Program

March 14, 2016
Paul Muolo
When the nonbank first unveiled the stock buy-back program, its shares were trading at $8.61.
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Short Takes: The Moving of a Subservicing Contract / GOS on the Rise in 1Q16 / Don’t Worry About Oil Prices and Mortgage Losses / CFPB Considers Rural Definitions / Altisource Gains Two Large Bank Clients

March 14, 2016
Brandon Ivey and Paul Muolo
Good news for mortgage bankers: gain-on-sale profit margins are on the rise.
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The Biggest Problem with Reviving the Non-Agency Market: Lack of Demand

March 11, 2016
Brandon Ivey
Matthew Tomiak, a managing director at Redwood Trust, said investors occasionally request that Redwood issue publicly-registered jumbo MBS.
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Super Clean MSR Offerings From IMA; $3.69 Billion of Product Up for Grabs

March 11, 2016
Paul Muolo
The Freddie portfolio includes loans from all 50 states with California receivables having the largest market share at 18.6 percent.
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What We’re Hearing: Might a PIMCO ‘Fund’ Buy PHH? / Citadel Advisors Slashes Stake in PHH / BofA Dodged a Bullet / Ocwen Has Enough Capital for Now / Finally, a TRID ‘Legal Fix’? / The Next President of MBA Could be a Woman

March 11, 2016
Paul Muolo
Mortgage M&A historians might recall that last decade, before the financial crisis struck, Countrywide Financial Corp. was in serious talks to buy PHH’s mortgage business...
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FHA, VA Call for Forbearance in Contaminated Areas in Flint, MI

March 11, 2016
The FHA has issued emergency guidance for handling loan applications in areas affected by the water contamination crisis in Flint, MI, while the VA called for special relief for affected Michigan borrowers. A spokesperson for the Department of Housing and Urban Development said FHA lenders have been seeking guidance on how to handle single-family housing properties with an FHA-insured mortgage that may be affected by the tainted water supply in Genesee County., MI. The FHA’s two-page guidance stated that a property in the affected areas must first meet the agency’s property acceptability standards. Lenders are required to ensure that each property has a continuing adequate supply of clean, safe and potable drinking water. In addition, they must make sure the property is safe to occupy and free of any health or environmental hazard. HUD’s Single Family Policy Handbook ...
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