During a recent webinar on MSR strategies, industry attorney Larry Platt of K&L Gates said he knows of “certain sales that have been held up for quite some time.” He noted: “You really can’t get a handle on what the cause of it is.”
The MBA said applications for purchase-mortgages with high loan balances have increased in recent months while applications for lower-balance mortgages has declined…
Bad news for Nationstar and Ocwen? S&P said downgrades on servicer-advance ABS are possible because the analysis that accompanied ratings on certain deals didn’t consider subordinated interest amounts as part of the ratable promise.
But Wells also offers up disappointing news on its mortgage gain-on-sale results. Its GOS fell to 161 basis points in the first quarter compared to 177 bps in 4Q and 256 bps in 1Q13.
The EXPIRE Act also includes a provision to extend the mortgage insurance premium tax deduction. In a letter supporting the tax extensions to the committee, the Mortgage Bankers Association estimated that for a $200,000 home, homeowners would be able to deduct between $600 and $1,000 from their taxes.
FHFA Director Mel Watt may have something to say soon on the topic of Fannie Mae/Freddie Mac loan level price adjustments, commonly known as LLPAs. As for the GSE 'Scorecard'...
Undisclosed third parties rejected a small portion of Ocwen Financial’s planned acquisition of mortgage servicing rights from OneWest Bank, according to a report this week from Fitch Ratings. The lack of approval on Ocwen’s MSR purchase was just the latest hurdle faced by nonbank servicers with plans to grow. Last year, Ocwen announced it planned to acquire a significant portion of MSRs from IndyMac Mortgage Services, a division of OneWest. Fitch said the acquisition ...
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