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Short Takes: Did BofA Yank a Big Subservicing Contract? / No Word From Wingspan CEO This Time / Ethos Bullish on Loan Brokers / Black Knight Hires CTO

October 8, 2014
Paul Muolo
Ethos Lending, a QM and non-QM lender, is marketing itself to third-party loan officers as the “broker advocate."
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A Small but Growing Market: MBS Backed by Nonperforming Mortgages

October 8, 2014
Brandon Ivey
Bonds backed by nonperforming residential mortgages could reach $6 billion this year. But all of the deals are "private."
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Legal Expert Blasts Judge’s Ruling in GSE ‘Net Worth Sweep’ Case

October 8, 2014
Charles Wisniowski
New York Law School professor Richard Epstein took issue with Judge Lamberth’s ruling that HERA doesn’t take away any “cognizable property rights.”
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Ginnie Scrutinizing ‘Changes of Control’ More Closely, Guidance on the Way

October 8, 2014
Paul Muolo
More clarity on the matter is expected later this month when Ginnie is set to release new guidance at the annual convention of the Mortgage Bankers Association.
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The ‘Brain Drain’ at the GSEs Will Continue. Here’s Why

October 7, 2014
Charles Wisniowski
Are Fannie Mae and Freddie Mac executives just wage slaves? And is there something wrong with that?
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Treasury Resisting Calls to Increase Scrutiny of HAMP Servicers

October 7, 2014
Brandon Ivey
The watchdog arm of Congress noted that the Treasury hasn’t implemented 6 out of 24 recommendations relating to housing programs funded by the Troubled Asset Relief Program.
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$600 Million of Fannie/Freddie and FHLB MSRs Up for Grabs

October 7, 2014
Paul Muolo
In other servicing-related auctions, The Prestwick Group is working on three bulk deals and three flow transactions.
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Specialty Servicer Wingspan Cuts Jobs in LA, But Not Saying How Many

October 7, 2014
Paul Muolo
Wingspan is a specialty servicer, a space that is looking increasingly crowded these days.
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Short Takes: Student Lender Enters Jumbo Mortgage Space / How are Mortgage Lenders Feeling? Not So Good / Ralph Nader Unhappy with GSE Decision / Why is Johnson-Crapo Even on the Senate Legislative Calendar?

October 7, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Quick question: What’s the difference between student loan debt and mortgage debt? One is impossible to extinguish by going through bankruptcy.
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Nonbank ‘Working Group’ Includes Ocwen, Probably Nationstar, but No Quicken

October 6, 2014
Paul Muolo
The initiative – which is being spearheaded by The Collingwood Group – comes at a time when the share prices of publicly traded mortgage companies have reached new lows.
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