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Short Takes: Don’t Expect Fannie & Freddie Employees to Stage a ‘Walk Out’ / Who is This Guy? / Another Large NPL Sale for Freddie / Ocwen’s Ever Changing Moods / A New CFO for Auction.com

September 17, 2015
Brandon Ivey and Paul Muolo
What do Fannie/Freddie officials say about the walk-out? They were amused at the effort but declined to comment on-the-record.
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Third and Fourth Quarters Could be a Humdinger for Sales of Mortgage Servicing Rights; A Flooded Market?

September 17, 2015
Now that interest rates have stopped falling – at least, for now – the servicing acquisition market has shifted into high gear with talk of a steady stream of both flow and bulk transactions through the remainder of 2015. “This could turn out to be one of the best quarters of the year for sales,” said Mark Garland, president of MountainView Servicing Group, Denver. “If it’s not the best, it could be close.” Tom Piercy, managing member of Interactive Mortgage Advisors, noted...
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Flagstar Recently Tried to Sell $10 Billion of MSRs. But Did the Deal Close?

September 16, 2015
Paul Muolo
Over the past few years, Flagstar has been a selective seller of mortgage servicing rights, lopping off packages as large as $40 billion.
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Short Takes: The CSP is Costing How Much? / As for the Implementation Date… / Ocwen Loses Money on MSR Sale / Walter’s ‘Insurance’ Transaction? / A New Hire for MIAC

September 16, 2015
Paul Muolo
Technology, like MBS, can be complicated. Just read the new FHFA report…
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Ocwen Now Expects a Loss for 2015, Unveils Cost Cuts; Oh, and It Hopes to be a Top 10 Lender

September 15, 2015
Paul Muolo
Ocwen blames the anticipated loss on lower revenue and higher operating expenses.
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Ocwen Now Expects a Loss for 2015; More Layoffs Planned; Oh, and It Hopes to be a Top 10 Lender

September 15, 2015
Paul Muolo
According to figures compiled by Inside Mortgage Finance, Ocwen may have a long way to go in meeting its production dreams...
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HARP Refi Volume Just About Flat in 2Q15

September 15, 2015
John Bancroft
Fannie Mae had a slight increase in HARP activity and accounted for 59.3 percent of the total for the two GSEs...
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Short Takes: Almost All GSE-Related Legislation is DoA / Don’t Kill the Golden Goose / Those Crazy Common Investors / The GSEs Are Worth $105 Billion? / Brian Webster’s Resume

September 15, 2015
Paul Muolo
In 2Q, the GSEs earned $8.8 billion combined. Multiply that by four (quarters) and then three (years) and you get $105.6 billion.
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And the Beat Goes On: Banks Continue to Shed Servicing Rights

September 14, 2015
John Bancroft
Two companies – Wells Fargo and Bank of America – accounted for virtually all of the decline in bank MSR holdings during the second quarter.
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Home Point Looks to Buy Servicing Rights, Add Another Retail Team

September 14, 2015
Paul Muolo
Recently, Home Point added a large retail lending team from Great Plains Bank and Newman promised that “we have another large retail team scheduled to come on in the next several weeks.”
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