Two Harbors Reveals Name of Mortgage Banker it Purchased May 8, 2013 Brandon Ivey Besides entering the servicing arena, Two Harbors Investment Corp. is building an originator network to issue non-agency jumbo mortgage-backed securities on its own.Read More
Short Takes: $750 Million of NPLs to Bid This Week / Two Harbors in the Hunt for Re-performing / Investors Will Continue to Dump Non-Agency MBS / NAFCU Upset with FHFA Edict on QM / Former Ally Executive Gets Hired by MBS Group May 8, 2013 Paul Muolo, Thomas Ressler, and Brandon Ivey A $750 million offering of nonperforming mortgages is expected to go down this week. Meanwhile, NAFCU is mad at FHFA over the QM rule.Read More
Nationstar to Buy Direct-to-Consumer Lender, Increases Flow MSR Goals May 7, 2013 Paul Muolo Nationstar Mortgage is getting serious about the origination business. On Tuesday it revealed plans to purchase a high-volume call center operation.Read More
Servicer Advance Securitization is Growing but Concerns Persist May 7, 2013 Brandon Ivey The market for securities backed by servicer advances is red hot, but S&P says investors face risks. Read More
Short Takes: Industry Wants Lower GSE Loan Limits / FirstREX Will Take Equity in a Home / Cramer Likes Ellie / United Guaranty on a Roll / About that FHA Premium Promise May 7, 2013 Paul Muolo and George Brooks The mortgage industry wants lower Fannie Mae/Freddie Mac/FHA loan limits. But will it happen?Read More
New York AG to File Lawsuits Against BofA, Wells for Servicing Issues May 6, 2013 Brandon Ivey Law enforcement officials say some of the nation's megabanks are violating terms of the historic national servicing settlement. Read More
Nationstar Launches $1.375 Billion Debt Offer, Mentions Suspension of Foreclosures May 6, 2013 Paul Muolo Business must be good for Nationstar Mortgage. The fast growing servicer is trying to pull off a huge debt swap. Read More
Steadfast Wants to Help Nonbanks Raise Capital / Stevens Seeks a Dialogue with FHFA on New Regs / BofA (Sort of) Comments on MSR Sale / Daurio Continues Hunt for Subprime Cash / GSE MF Worthless? May 6, 2013 Paul Muolo and Charles Wisniowski A new investment banking firm wants to help nonbanks raise capital.Read More
Redwood Shrugs Off Widening Spreads on Non-Agency Jumbo MBS, Posts Huge Profit May 3, 2013 Brandon Ivey Redwood hits an earnings home run in the first quarter. Widening spreads a concern? Hardly.Read More
Mortgage Insurance Attached to Many Underwater GSE Mortgages May 3, 2013 John Bancroft Fannie Mae and Freddie Mac securitized a total of $27 billion of mortgages with LTV ratios north of 105 percent, most of which did not have insurance.Read More