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Rep. Hensarling Defends PATH Act, Says 30-Year FRM Will Survive

August 13, 2013
Charles Wisniowski
The PATH Act awaits a vote on the House floor. But Hensarling’s measure is widely viewed as a non-starter in comparison to the Senate’s bipartisan Corker-Warner bill.
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Short Takes: CashCall Sued by NY AG but Not Over Mortgages / Sen. Jack Reed Shows Some Love for the GSEs / QRM Coming Soon? / ASF Tells Servicers to Reject Eminent Domain Offers / Trailer Park Loans Get an Appraisal Break

August 13, 2013
George Brooks and Paul Muolo
CashCall may be in trouble with New York State. So, where's Senator Reed's GSE bill?
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HUD May Scotch Richmond's Eminent Domain Dreams

August 13, 2013
George Brooks
According to a new letter obtained by Inside Mortgage Finance, HUD says it is uncertain whether any new loan created under the controversial eminent domain plan would qualify for FHA insurance.
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HAMP Activity Declining, Servicers Favor Proprietary Mods

August 12, 2013
Brandon Ivey
Even with the incentive fees offered by the HAMP program, residential servicers favor proprietary mods.
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With Refis Tanking, Can CashCall Get Sold?

August 12, 2013
Paul Muolo
As refinancings continue to fall, lenders that specialize in such loans will see their franchise values drop dramatically.
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Bulk Market Continues to Spit Out MSR Offerings

August 12, 2013
Paul Muolo
Investors searching for residential servicing rights can take a run at new offerings from Interactive Mortgage Advisors and MIAC, among others.
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Short Takes: At Least Harry Reid Likes the GSEs / Uncle Sam Takes In More Revenue, Thanks to Fannie and Freddie / Greenlight Earned How Much Last Year? / HSBC Official Joins Mortgage Master / Calling All Warehouse Lenders

August 12, 2013
Paul Muolo
Senate Majority Leader Harry Reid appears to have come out in support of Fannie Mae and Freddie Mac. But will other elected officials follow suit?
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Obama: Liquidate Fannie and Freddie but Keep 30-Year Mortgage

August 9, 2013
Charles Wisniowski
Industry reaction to Obama’s speech was generally favorable, particularly as it related to his call for continued, unfettered access to the 30-year FRM.
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What We’re Hearing: Stated-Income Lending Returns / Can Fannie and Freddie Get Their Companies Back? / Walter’s Big Fannie Mae Secret / Bidders Paying 6x for MSRs? / EverBank Official to Head Mortgage Lending at Insignia / PNC Gets Subpoenaed

August 9, 2013
Stated-income loans are being offered at 5.49 percent as long as the borrower puts down 20 percent. Meanwhile, Walter wants to keep its contract terms with Fannie Mae secret.
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Subprime, Delinquent Loans Remain a Focus

August 9, 2013
Ocwen Financial has outpaced subprime servicers in terms of growth in the past year and hopes to more than double its portfolio within the next year. Ocwen handled $145.98 billion in subprime mortgages as of the end of the second quarter of 2013, a 54.8 percent increase compared with the same time last year. In the past year, no other servicer grew at a rate even close to that, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $440 billion in ... [Includes one data chart]
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