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SIGTARP: Complaints About HAMP MSR Transfers ‘Escalating’

October 29, 2014
Brandon Ivey
The SIGTARP said that since the beginning of 2013 it has received complaints from “nearly 100” borrowers regarding issues with servicing transfers, and that 84 of the calls came in 2014.
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Guild Mortgage Isn’t Done Buying Other Lenders

October 29, 2014
Paul Muolo
Guild's McGarry also said the company will not be closing on any more transactions in 2014.
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Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle

October 29, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…
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What’s Going On? Consumers Are Complaining a Lot Less About Mortgages

October 28, 2014
Thomas Ressler
Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.
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Quick Turn-Time on Latest Jumbo MBS from Two Harbors

October 28, 2014
Brandon Ivey
DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.
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Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual?

October 28, 2014
George Brooks and Paul Muolo
Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...
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Fannie Shareholders (Pre-Conservatorship) will Reap $170 Million from Settlement

October 27, 2014
Charles Wisniowski
The investor-plaintiffs claim that Fannie and two of the company’s former executives made false and misleading statements about the mortgage giant’s internal controls and its exposure to subprime.
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Plenty of Investors are Eyeing Non-Agency Space, Even PIMCO

October 27, 2014
Paul Muolo
For a bond investor such as PIMCO, the attraction should not come as a total surprise.
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Despite ‘Open Letter’ on Loan Mod Snafu, Ocwen’s Share Price Hits New Low

October 27, 2014
Brandon Ivey
Ocwen's open letter to borrowers likely will not assuage shareholders who have lost a ton of money on the firm.
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Short Takes: Try Convincing Commercial Banks About Buyback Relief / Fannie Not So Bullish / Simpler Comp Plans for LOs? / Wells Pays HECM Fine / New Correspondent Chief for Nationstar

October 27, 2014
Paul Muolo
Industry consultant Joe Garrett notes that one of his clients (back in 2003) had 52 loan officers and “about 52 comp plans”…
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