1Q Residential Production at Citigroup Lags Peers; Servicing Continues to Shrink April 16, 2015 Paul Muolo Meanwhile, Citigroup continues to see its servicing “for others” portfolio shrink...Read More
Texas Depository Purchases 15-Year-Old Nonbank Mortgage Firm April 16, 2015 Paul Muolo In general, depositories have not been active buyers of mortgage companies, though that’s starting to change somewhat. Read More
Short Takes: So Much for the Moratorium on Captives Joining FHLBs / Nonprofits Stand Up for Ocwen / Ocwen Layoffs? / Time to Exit SFR? / CFPB Rule Update April 16, 2015 Brandon Ivey, Paul Muolo, and Thomas Ressler Is the bloom off the rose in the single-family home rental market? Some institutional investors are shedding assets.Read More
FHA Recaptures Few of Its Refinances; Cut in Annual Premium Could Help April 16, 2015 Paul Muolo Where are these FHA loans migrating to? “Fannie Mae and Freddie Mac,” said Chappelle. Read More
BofA Grows Originations by Almost 13 Percent; Layoffs Ensue April 15, 2015 Paul Muolo BofA continues to carve down the size of its mortgage servicing portfolio.Read More
Treasury Point Man on GSE Reform Defends PSPAs April 15, 2015 Carisa Chappell The remaining undrawn taxpayer commitment to the GSEs is $258.1 billion dollars, Stegman noted.Read More
Short Takes: Wall Street Firm Eyeing Mortgage Purchase? / SEC Won’t Take Action Against Carrington / Applications Decline Slightly / Relief for ‘Trailer Park’ Loans? / loanDepot Gets New Chief Credit Risk Officer April 15, 2015 Brandon Ivey, Paul Muolo, and Thomas Ressler The Wall Street firm hunting for mortgage acquisitions is not a depository like JPMorgan Chase...Read More
Ocwen Reports Fourth Quarter Earnings, Nonbank’s Auditor Has Concerns April 14, 2015 Brandon Ivey Ocwen officials stress that the company has made significant progress in strengthening its operations and capital structure.Read More
Short Takes: Bank Servicers Better Positioned / Lenders Aren't Ready for TRID / Appraisal Issues / Foreclosure Trends April 14, 2015 Brandon Ivey “The greater comfort that banks have in the current regulatory environment has situated them as more potential buyers of mortgage servicing product than was the case several years ago,” Fitch Ratings said.Read More
Short Takes: Consolidation Among GSE Sellers / Chase Sells MSRs to SPS / House to Vote on Points-and-Fees Bill / Characteristics of Loan Shoppers April 13, 2015 John Bancroft and Brandon Ivey The share of GSE business that came from the top five sellers increased slightly in the first quarter of 2015 compared with the previous quarter.Read More