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GSE Shareholders Look to Iowa Federal Court to Vacate DC Judge’s Dismissal

October 22, 2014
Charles Wisniowski
An investor in GSE stock, Continental’s counsel in the case is Cooper & Kirk, the same law firm that represents Fairholme, a large hedge fund that bought up GSE stock last year.
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Short Takes: Who Might Guaranteed Rate Buy? / RPM Eyes Two More Lenders / A Non-QM IPO Already? Really? / Fitch Upgrades Shellpoint on Servicing / New Appraisal Tool From Fannie Mae / More Trouble for Nonbanks and MSRs?

October 22, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
We even heard one report that a non-QM firm is contemplating an initial public offering. It sounds crazy, we know…Meanwhile, it appears the states want a say in MSR transfers...
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Wells’ Sale of $39 Billion in MSRs to Ocwen Imperiled; A $14 Stock?

October 22, 2014
Paul Muolo
Ocwen said it has fixed the "back-dating" problem but it may be too late for the company.
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Short Takes: MBA Shows the Love for FHFA’s Mel Watt / Looser Mortgage Credit? Are You Crazy? / The CFPB ‘ePilot’ Moves Closer / The Fear of Running Out of Money / Are You Afraid of Ghosts?

October 21, 2014
Paul Muolo and Thomas Ressler
After all, didn’t America suffer a housing “depression” because credit was too loose? Some GOP conservatives in Congress live by the edict: those who can own; those who can’t rent…
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Ocwen’s Stock Plunges After NYS Levies More Allegations Against the Firm

October 21, 2014
Paul Muolo
At press time, the firm’s share price was getting crushed, down 25 percent on the day to a new 52-week low of $19.89.
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Phoenix Capital and IMA Unveil New MSR Auctions

October 20, 2014
Paul Muolo
Servicing brokers expect a land rush of servicing deals before yearend.
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A New Player in Mortgage M&A: Mid-sized Commercial Banks

October 20, 2014
Paul Muolo
Charbonneau, Klein and other advisors report that mortgage M&A activity is the strongest it has been in years.
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Short Takes: Will FHFA’s Mel Watt Deliver the Goods? / Actually, Fannie is Buying 97 Percent LTV Loans, But… / IBM Gets Whacked / First Republic’s GOS / Quicken CEO Sworn in at MBA Show

October 20, 2014
Paul Muolo
What does IBM have to do with the mortgage business? Actually quite a bit, IBM is one of Fannie Mae’s largest technology vendors...
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FHFA Chief Floats Initiatives Tied to Looser Credit: More Buyback Relief and Higher LTVs

October 20, 2014
Paul Muolo
In defining misrepresentations, FHFA will set a minimum number of loans that must be identified with one of the six trigger elements.
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Judge Won't Give Former Fannie CFO Access to Documents in Hedge Fund Case

October 17, 2014
Charles Wisniowski
Government attorneys sought to block Howard’s access on the grounds that he owns Fannie shares and would be biased.
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