S&P Upgrades Ocwen’s Servicer Ratings, Removing the Threat of a Non-Agency Servicing Transfer August 10, 2016 Brandon Ivey S&P said the upgrade was prompted by improvements to Ocwen’s “control environment,” among other items…Read More
Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae August 10, 2016 Brandon Ivey and Paul Muolo Senior-level mortgage executives are in demand these days, according to one recruiter... Read More
PHH Working on Sale with ‘Sense of Urgency’; Company Loses $12 Million in 2Q16 August 9, 2016 Paul Muolo The question remains: who will buy PHH's assets? Is a franchise deal even possible?Read More
Redwood Boosts Net Income in Second Quarter, Sees Promise in Risk Sharing with Banks August 9, 2016 Brandon Ivey Redwood is working to increase investments in first-loss risk on loan pools delivered to Fannie Mae and Freddie Mac.Read More
Walter Posts Staggering Loss of $232 Million for 2Q16; Sells MSRs and Hires New CEO August 9, 2016 Paul Muolo On the production front, Walter’s Ditech unit reported $4.8 billion of new originations, a 3.4 percent drop compared to 1Q16. Read More
Short Takes: MBA’s Dave Stevens, Former HUD Chief Cuomo in the $100,000 Hillary Club / 66 Basis Points for $35 Billion in MSRs? / Sell Walter? / Fannie CEO Takes A Second Job / Stewart Title Loses Sales Exec to Competitor August 9, 2016 Carisa Chappell and Paul Muolo Speculators have made a ton of money shorting Walter's stock...Read More
Banks See Lower Mortgage Profits in 2Q16. Blame it on the Big Guys August 8, 2016 John Bancroft The 22 regional banks fared a lot better, reporting a combined $903.5 million of mortgage-banking income…Read More
FDIC Proposes Standards for Oversight of Third-Party Lending Activities, Including Mortgages August 8, 2016 Brandon Ivey The FDIC said third-party lending is an arrangement that relies on a third party to perform a significant aspect of the origination process…Read More
TIAA Makes it Official: Financial Services Firm will Buy EverBank; A $93.2 Million Termination Fee Though August 8, 2016 Paul Muolo TIAA is headed by Roger Ferguson, former vice chairman of the Federal Reserve Board.Read More
FHFA Says if Severe Recession Hits, GSEs Could Need $125.8 Billion of Federal Assistance August 8, 2016 Paul Muolo The stress test calculation is mandated by the Dodd-Frank Act and applies to Fannie and Freddie because each have $10 billion or more in assets.Read More
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