Acting FHA Chief Dana Wade Sees Disturbing Trends, Worries About Potential Losses April 26, 2018 George Brooks Warning sign: In February, the percentage of FHA borrowers with DTI ratios above 50 percent rose to 24.6 percent, up from 19.8 percent a year ago.Read More
Altisource Reports a Loss, Declining Revenue and Says the CFPB Won’t Take Action Against It April 26, 2018 Paul Muolo In February of last year, Altisource disclosed in an SEC filing that the CFPB was looking into the vendor’s relationship with Ocwen...Read More
Short Takes: Losses at Privately Held Shops? / Refis Near a 10-Year Low / Will the CFPB Target Rate-Lock Commitment Abuses? / Strong Earnings for Radian but Clayton a Drag / A New Hire for United Wholesale April 26, 2018 Paul Muolo and Yemeng Yang Radian's mortgage and real estate services division – which includes due diligence provider The Clayton Group – continues to struggle...Read More
VA Servicing Continues to Grow at a Nice Clip April 25, 2018 John Bancroft Don’t look now, but Ginnie Mae MBS outstanding is approaching the $2 trillion mark…Read More
PHH’s CEOs Took Home (Combined) $5.26 Million in Compensation Last Year April 25, 2018 Paul Muolo Crowl’s base pay for 2017 totaled $554,808 while Messina’s came to $485,962.Read More
Short Takes: Another Milestone for Angel Oak / Going After Bayview? / Mortgage Layoffs at HomeStreet / Genworth Unveils Rate Card Reductions / A Promotion at PRMI April 25, 2018 Paul Muolo HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.Read More
The FHA Share of Mortgage Complaints Filed with the CFPB: 13 Percent April 24, 2018 George Brooks According to the CFPB’s annual report on consumer disputes, the bureau received roughly 37,300 mortgage complaints in 2017...Read More
Originations Fall 19 Percent at Flagstar; Bank Keeps Selling MSRs April 24, 2018 Paul Muolo Flagstar sold $12 billion of mortgage servicing rights as well…Read More
Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager April 24, 2018 Brandon Ivey and Paul Muolo A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals. Read More
VA’s Plan to Make VALERI a Fully Operational AUS Well Underway April 23, 2018 George Brooks One of the goals of the conversion project is to improve program performance…Read More
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