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Ginnie Mae Postpones Annual Summit, Citing Government Shutdown

January 16, 2019
Paul Muolo
Scheduled speakers included Housing and Urban Development Secretary Ben Carson, Kasper and Edward DeMarco, former acting Director of the Federal Housing Finance Agency.
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Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending

January 16, 2019
Paul Muolo
Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.
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Residential Production Falls 17 Percent at Wells Fargo, Mortgage Profits Plunge

January 15, 2019
Paul Muolo
Management blamed the lower figures on “seasonality.”
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Residential Production Down by Almost 24 Percent at No. 2-Ranked JPMorgan Chase

January 15, 2019
Paul Muolo
JPM valued its MSR portfolio at 117 basis points at the end of the fourth quarter, reducing the mark from 122 bps in 3Q18...
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First Republic Bucks the Trend and Increases Mortgage Originations

January 15, 2019
Brandon Ivey
Jumbo mortgages account for the vast majority of First Republic’s single-family production.
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Consumer Complaints Up 3.8 Percent in 2018. Mortgage Gripes Tank

January 15, 2019
Yemeng Yang
Companies with the most gripes filed against them were the three major credit reporting bureaus: Equifax, Experian and TransUnion...
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Short Takes: Worrying About What Mark Calabria Might Do / Ever Seated? / A Price War Brewing in Non-QM? / Tim Anderson’s Blockchain Job / Freddie Gets a New General Counsel

January 15, 2019
Dennis Hollier and Paul Muolo
We understand a bit of a price war may be brewing in the non-QM market...
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Citigroup Sees Retail Residential Production Drop by Almost 15 Percent

January 14, 2019
Paul Muolo
Compared to the same period a year earlier, retail loan production fell by 23.3 percent at Citigroup...
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CFPB Report Raises Questions about Non-QMs, DTIs, Servicing and More

January 11, 2019
Brandon Ivey and Yemeng Yang
The CFPB determined the ATR rule has reduced lending to some extent to borrowers with high debt-to-income ratios…
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Lenders Not Liable for a Servicer’s RESPA Violation

January 11, 2019
Brandon Ivey
Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.
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