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Did the NY-DFS Throw a Monkey Wrench Into the Legacy MSR Market?

June 25, 2014
Paul Muolo
The market for large "legacy" MSR deals appears to be ice cold. Then again, last week there were rumors that a $50 billion transaction might be in the works.
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Fannie and Freddie Were Overcharged $158M for Force-Placed Insurance; But Will FHFA Sue?

June 25, 2014
Charles Wisniowski
The FHFA will weigh the merits of taking legal action against vendors, but could take upwards of 12 months to make a final decision.
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States May Act on Capital Requirements for Nonbank Servicers

June 25, 2014
Brandon Ivey
How much capital should nonbank mortgage servicers be required to have? The question is getting louder and louder.
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Will Mortgage REITs Lose a Cheap Source of Funding at the FHLB Window?

June 25, 2014
Paul Muolo
Mortgage REITs found a cheap source of funding in the Federal Home Loan Bank system. But will the FHFA permanently block their access or just restrict it?
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Short Takes: Did Ocwen Off-Load Some Servicing to Cenlar? / Wholesalers Capping Broker Compensation at 2.2 Percent? / The Final Squeezing of the HARP Grapes? / A Kinder, Gentler CFPB?

June 25, 2014
Paul Muolo
We talked a handful of wholesalers and were told the figure is much lower – in the range of 2.2 percent to 2.5 percent. Broker-sourced loans account for less than 10 percent of all loans funded today,
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Does the Mortgage Industry Still Have Too Much Capacity? Will Looser Credit Help?

June 24, 2014
Paul Muolo
Will an increase in non-QM lending arrive in time to bolster the mortgage industry?
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Statebridge Names Former Seterus Executive Jay Memmott its New President

June 24, 2014
Paul Muolo
It is unclear exactly when Jay Memmott left Seterus.
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After SunTrust and Wells Cases, Lenders Feel ‘Unsafe’ Dealing with FHA

June 23, 2014
George Brooks
Others believe thesecases could have a chilling effect on FHA lending to the detriment of first-time homebuyers and borrowers with insufficient cash for a downpayment.
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MountainView: Secondary Market for ‘Reperforming’ Mortgages Heats Up

June 23, 2014
Paul Muolo
Every buyer has a different definition of "reperforming," but generally the loan must be current for at least 12 months.
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Short Takes: When Might the Ocwen-Wells Deal Clear? We Don’t Know / FSOC Voices Concern on Fast Growth of Nonbank Servicers / Lone Star Wins HUD Auction / Should Mortgage Vendors Worry Much About the CFPB?

June 23, 2014
Paul Muolo
The Financial Stability Oversight Council of the Treasury Department has its eye on the rapidly growing market presence of nonbank servicers such as Ocwen, Nationstar Mortgage and Walter Investment Management.
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