Over the past two years, the Wall Street giant has purchased a handful of nonbank lenders, including Gateway Funding...

The assessment matches the rating service’s “grade” on Caliber Home Loans, which issued the first AAA-rated nonprime MBS backed by new originations.

Correspondent lending accounts for 21.4 percent of Stearns’ total origination volume, based on fourth quarter figures from Inside Mortgage Finance…

Dave Akre, who runs Whole Loan Capital, noted, “How can they stay in the mortgage origination business when servicing is a huge part of the borrower experience?”

PHH Corp., for years, has been trying to unload its entire mortgage franchise, a process complicated by both regulatory sanctions and large accounting losses tied to declining interest rates.

PFSI is forecasting that by the second half of 2017 it will be originating $40 million to $60 million per quarter in multifamily loans.

An affiliate of New Residential Investment is preparing to issue a $400.0 million ABS backed by servicer-advance receivables, according to S&P Global Ratings. The ABS relates to mortgages serviced by Ocwen Financial. NRZ Advance Receivables Trust 2015-ON1 Series 2017-T1 received preliminary AAA ratings from S&P. In addition to citing strengths in the structure of the ABS to support a AAA rating, S&P noted that it upgraded its servicer ratings for Ocwen from “below average” to “average” in September. Series 2017-T1 is...

When commercial banks run screaming from a business, it usually opens up a huge opportunity for nonbanks…

PennyMac Financial Services has significantly curtailed its originations of jumbo mortgages in recent years, and ended 2016 nearly out of the sector all together. PennyMac didn’t have any jumbo originations in the fourth quarter and as of the end of 2016, the nonbank only had $1.0 million in locked jumbos in its pipeline.Citigroup has entered into a subservicing agreement with Cenlar for the bank’s non-agency mortgages. Servicing is expected to be transferred ... [Includes four briefs]

The Mortgage Bankers Association has asked the Trump administration to help close a loophole in the Property Assessed Clean Energy (PACE) program that could put consumers at risk. In a recent public service video, Pete Mills, MBA senior vice president for residential policy and member engagement, said the MBA has been in contact with the president’s transition team to see if there is a way to incorporate consumer protections into the program. Mills noted a “significant void in consumer protection” due to the structure of PACE programs. The PACE program allows local or state governments, when authorized by state law, to finance the upfront cost of energy upgrades on commercial, residential or industrial properties. A PACE loan is repaid over a set period – typically 10 to 20 years – through a special assessment on the property on top of the owner’s annual property tax bills. It has seniority over all ...