Slip Sliding Away: Subprime Servicing Rights; Here Comes Caliber? August 27, 2015 Brandon Ivey Only one servicer among the top 15 – Caliber Home Loans – avoided a decrease in subprime MSRs...Read More
MBA Sees ‘Profit’ Rise 44.3 Percent in FY 2014; Stevens Takes Home $1.6 Million August 27, 2015 Paul Muolo For the year ending Sept. 30, 2014 MBA took in revenue of $51.9 million versus $39.1 million in expenses for a net profit of $12.7 million.Read More
Short Takes: Fannie Gets the Origination Blues / Hopefully, It Won’t Come True / Marix Gets Freddie Approval / Freddie Grows. Don’t Tell FHFA / MIAC Hires Trading Desk Chief August 27, 2015 Paul Muolo If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…Read More
CFPB Finds Mortgage-Related Complaints Declining, Led By Ocwen and Nationstar August 26, 2015 Brandon Ivey Among the top 10 companies in the complaint database, two mortgage servicers showed improved performance: Ocwen and Nationstar.Read More
Get Ready: G-Fees Will Rise for USDA Home Loan Program August 26, 2015 George Brooks Effective Oct. 1, 2015, the upfront g-fee for USDA purchase and refinance loans will be raised to 2.75 percent from 2.00 percent. Read More
Short Takes: About That Fed Hike in Rates… / Rates Under 4 Percent with No Points / But Apps are Flat – For Now / LA is Too Much for the Borrower / Auction.com Hires eBay Executive August 26, 2015 Brandon Ivey and Paul Muolo A quick check of rates this morning found that firms such as Sebonic and Aurora Financial were offering 30-year fixed-rate loans at 3.75 percent with no points.Read More
Servicer Prevails in ‘Do Not Call’ Case Involving Borrower’s Cell Phone Number August 25, 2015 Brandon Ivey The borrower listed his cellphone number on the loan modification documents, but then defaulted.Read More
Mortgage Banking Solutions Selling Wholesale Lender August 25, 2015 Paul Muolo MBS Managing Partner Chuck Klein said the company in question owns at least $3 billion in mortgage servicing rights...Read More
MBA: Origination Profit at Independents Almost Flat in 2Q August 25, 2015 Paul Muolo The results are based on 354 lenders that submitted production data to the trade group.Read More
Did Blackstone Pay a Premium for Stearns? Not Likely August 24, 2015 Paul Muolo Stearns Lending has been on the auction block for well over a year, maybe longer...Read More