CFPB Blames ‘Compliance’ for Huge Renovation Costs; Tsk, Tsk July 2, 2014 Thomas Ressler Oh, the irony: tough compliance regulations drive up the cost of renovating the HQ of the Consumer Financial Protection Bureau.Read More
Will FHFA Capital Rules for Nonbank Servicers Alter the MSR Purchase Market? July 2, 2014 Paul Muolo Nonbank capital rules from the FHFA will add certainty to the MSR market, but there will plenty of indigestion along the way.Read More
Short Takes: Who’s the Mystery Nonbank Singled Out by the FHFA IG? / Nonbank Mortgage Stocks Suffer, Then Recover (Sort of) / The Loch Ness Monster and HELOC Resets / Applications Fall Ever So Slightly / HSBC is the Latest to Settle July 2, 2014 Paul Muolo and Charles Wisniowski It should be noted that after the FHFA IG report was released, the share value of Nationstar, Ocwen and Walter all suffered in trading... Read More
Will Reperforming Mortgages Wind Up in MBS? July 2, 2014 Paul Muolo Then again, there are different definitions of what constitutes a “re-performing” mortgage. Most of the loans trading in this market are modified loans that have six to 12 months of seasoning and a clean cash-flow history.Read More
FHFA Spearheading Effort on Capital Standards for Nonbank Servicers July 1, 2014 Paul Muolo But it’s not just talk of capital standards for nonbanks that has some in the industry spooked – it’s the issue of what constitutes capital.Read More
FHFA IG Worries About Nonbank Servicers Using Short-Term Loans, More July 1, 2014 Paul Muolo The FHFA IG seems to be singling out one nonbank megaservicer in particular. But the Inspector General isn't naming names...Read More
Mortgage M&A Heats Up: Sale of CTM Nears; HomeStreet Sells $3B of MSRs; MIAC Active July 1, 2014 Paul Muolo There has been plenty of talk about mortgage M&A, and now it appears that deals are finally happening. Read More
Short Takes: Wells Fargo in Repo Deal with Ocwen Spin-off / New Capital Rules for Mortgage Insurers? / In Non-QM Loans We Trust / Don’t Fear the HELOC Reaper / Radian Completes Clayton Deal / USB Settles FHA Charges July 1, 2014 Paul Muolo Will a coming boom in the production of non-qualified mortgages help residential lenders survive the origination slump?Read More
HAMP Program Extended to the End of 2016, At Least June 30, 2014 Brandon Ivey Treasury Secretary Jacob Lew acknowledged that HAMP hasn’t been as successful as the Obama administration would have liked.Read More
MSR Values at Roughly Two-Times Historical Levels; a $50B Auction Coming? June 30, 2014 Paul Muolo To participate in the MSR market, institutional investors must partner with licensed and compliant servicers.Read More