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Short Takes: HUD’s Castro Presents the Math / How Much?/ The Market for FHA Streamline Refis / Citadel Rolls Out ‘Alt A’ Product Named After a Dog / Arvest Mortgages Gets a New CEO

February 11, 2015
Paul Muolo
Citadel Servicing Corp., which has made a name for itself as a new-style subprime lender, has rolled out an Alt A mortgage called “Maggi.”
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Treasury’s Point Man on GSE Reform Punts on Handicapping Passage of a Bill

February 10, 2015
Brandon Ivey
Treasury counselor Michael Stegman noted that policymakers on both sides of the aisle are dissatisfied with the current status quo regarding Fannie Mae and Freddie Mac.
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Liquidity Requirements in FHFA Proposal a Concern for the Industry

February 10, 2015
Paul Muolo
Marina Walsh, vice president of industry analysis for MBA, said, “We don’t have enough information to do a thorough analysis of the proposal.”
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Short Takes: Mortgage Servicer Hits the Auction Block / Wilshire Buying Mortgage Unit / More on FHA’s ‘Tweaks’ / The CFPB is Spending How Much? / Frank Talk on Risk Retention

February 10, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
"My understanding is that FHA is planning on releasing supplemental performance metrics to ‘Neighborhood Watch’ to reduce reliance and focus on just a lender’s compare ratio," said Tim Rood.
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MountainView Selling $736 Million of Mortgage Servicing Rights

February 10, 2015
Paul Muolo
The MountainView package is top heavy with California product. The identity of the seller was not provided.
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Investors in Vintage Non-Agency MBS Frustrated with Lack of Servicing Transparency

February 9, 2015
Brandon Ivey
However, Nationstar, as a master servicer, provides trustees with more than 200 data fields a month regarding loan performance, servicing and more.
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IMA Selling $111 Million Fannie Mae MSR Package

February 9, 2015
Paul Muolo
But that reticence could be slipping. As the week opened, the yield on the benchmark 10-year Treasury was at 1.94 percent, the highest it has been in several weeks.
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Mortgage Employment Almost Flat; One Issue: Hiring LOs With Heavy Pipelines

February 9, 2015
Paul Muolo
Another manager noted that, “It’s been very intense recruiting in the markets that have shown the most growth: Texas, California, Florida and the DC [Washington] area.”
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Pending Jumbo MBS from CS Dinged By Fitch for Concerns About Origination Practices

February 9, 2015
Brandon Ivey
Forty-six different lenders contributed to the MBS led by Quicken Loans with a 39.1 percent share...
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Short Takes: Pingora Weighs in on FHFA Servicer Eligibility Standards / Low Delinquencies for Pingora / RCS Hits $14B Mark on MSR Asset / Caution on Stonegate / Premier Coming Off a Good Year

February 9, 2015
Paul Muolo
Some factions of the industry have expressed a concern about the “liquidity language” in the FHFA proposal, but that’s not a concern for Pingora's Lau.
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