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Ginnie Mae MBS Issuance Up in First Half of 2013

July 17, 2013
George Brooks
Wells Fargo, the nation's large home funder, accounted for almost 31 percent of total Ginnie Mae issuance during the first half of 2013.
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BofA Continues to Lose Money on Mortgage Unit, Refis Sky High at 83 Percent

July 17, 2013
Paul Muolo
Bank of America's mortgage business continued to recover in the second quarter, but its rep and warranties exposure remained high at $16.64 billion.
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Corker-Warner Pitch Their GSE Reform Effort Over Hensarling’s ‘Ideologically Pure’ Bill

July 17, 2013
Charles Wisniowski
Sens. Bob Corker, R-TN, and Mark Warner, D-VA, say their mortgage reform measure strikes the right chord between Democrat and Republican concerns.
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Refis at Lowest Point in More Than Two Years

July 17, 2013
Paul Muolo
Is the great refi wave just about over?
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Short Takes: Nationstar Lays Groundwork for Another BofA MSR Deal / PHH Revises Warehouse Agreement with RBS / The Fed Will Keep Gobbling Up MBS / The CFPB’s Cordray is Finally Street Legal / An OIG For CFPB?

July 17, 2013
Paul Muolo and Thomas Ressler
Nationstar Mortgage is issuing $250 million of debt, hinting that it may buy more MSRs from Bank of America.
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MBA Wants a Common GSE MBS, More

July 16, 2013
Charles Wisniowski
The MBA believes that the Treasury Department – despite being the GSEs’ single biggest shareholder – has been absent on Fannie/Freddie reform since early 2011.
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Consumer Complaints to CFPB About Mortgages Decline

July 16, 2013
Thomas Ressler
The numbers suggest that after seven quarters of complaints being received by the CFPB, mortgage lenders are getting a better handle on complaint resolution.
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Short Takes: Cordray Confirmed as CFPB Chief? / LPS Looked at Buying Mortgage Cadence / Joe Garrett Tells Lenders to Cut Now / Allonhill Starts Hiring / Fannie Says Market Could Move Toward ARMs

July 16, 2013
Paul Muolo and Thomas Ressler
Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.
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Short Takes: MBA Chief Warns About an Imperfect Solution / A Rosy Outlook for GSE Reform? What? / Gain-on-Sale Not So Bad / Ocwen Goes After HARP Refis / Nomura Has No Jumbo Conduit

July 15, 2013
Brandon Ivey, Paul Muolo, and Charles Wisniowski
MBA president Dave Stevens is concerned that events could soon overtake policy makers and force an “imperfect solution” to Fannie Mae and Freddie Mac.
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CitiMortgage Sees Originations Fall but Marks Up Asset Value of MSRs

July 15, 2013
Paul Muolo
Citigroup is becoming more aggressive in residential lending, especially in the jumbo space.
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