The Structured Finance Industry Group put out the third edition of its RMBS 3.0 “Green Papers” initiative early this week, featuring dozens of model representations and warranties for new non-agency residential MBS, including a range of proposed standardized constructs. “This release substantially builds upon our growing series of Green Papers, which are aimed at restoring confidence to the ‘private label’ RMBS market,” the trade group said. The first and second editions were released in 2014. The 39 model reps and warrants included in the third edition complete...

The authors want the Treasury Department to end the quarterly profit sweep and allow Fannie and Freddie to raise about $100 billion in additional capital through several rounds of new common stock sales...

A handful of hedge funds were salivating at the prospect of shorting loanDepot's stock...

Ocwen Financial continues to work toward satisfying regulatory requirements that would allow the nonbank to resume acquisitions of mortgage servicing rights. However, officials stress that MSR acquisitions aren’t the main focus for the company. “Right now, I don’t see in the marketplace a lot of opportunities for the kind of servicing transfers that would interest Ocwen and that’s why we’re focusing more of our efforts on generating new assets ... [Includes one data chart]

The third-quarter figure was the largest new insurance written total for the industry since 1Q 2008, when private MIs booked $72.17 billion of new coverage.

Over the past 12 months, Florida had the highest number of completed foreclosures at 91,000.

The last nonbank mortgage lender to go public was Stonegate Mortgage, which brought its IPO to market two years ago.

Although the home foreclosure inventory is falling compared to a year ago, some metropolitan areas are seeing an increase in new filings, including Atlantic City.

Thanks to declining interest rates and higher prepayment speeds in the third quarter – especially on Ginnie Mae receivables – several publicly traded nonbanks were forced to write down the asset value of their mortgage servicing rights, causing millions of dollars in red ink. According to a review by Inside Mortgage Finance of the earnings statements of six nonbanks, the combined servicing markdown was an ugly $448 million. The group includes Nationstar Mortgage, Ocwen Financial, PennyMac Financial Services, PHH Corp., Stonegate Mortgage and Walter Investment Management Corp., the parent of Ditech Financial. Walter took...

loanDepot Inc. this week priced its much anticipated initial public offering, valuing its soon-to-be-listed shares – 34.5 million units in total – at $18 each or roughly $621 million, a lofty valuation for a company that owns just over $20.9 billion in mortgage servicing rights. Few in the industry are questioning loanDepot’s explosive growth since its inception five years ago, but eyebrows have been raised about the anticipated size of the deal. “It’s...