How Hot Are Mortgage Servicing Rights? 25 New Investors Since January July 10, 2013 Paul Muolo A year ago, only two to four bidders would show up for an MSR auction. But those days are long over. Read More
Short Takes: Zero-Down Mortgages for Up to $650,000 / Sandler No Longer in Total Love with Wells / National Housing Trust Fund Robbed by Regulators? / GOP Up in Arms Over Big Brother CFPB / New FHA Bill? July 10, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski Need a zero-down mortgage for $650,000? Another Washington-area credit union steps up to the plate.Read More
VA Urges Servicers to Consider Principal Reduction for Distressed VA Loans July 9, 2013 George Brooks In recently issued guidance, the VA said reduction of principal in connection with a loan modification may produce a higher expected return for a servicer than termination of the loan.Read More
'Data-Driven' CFPB Defends Data Collection Efforts July 9, 2013 Thomas Ressler Testifying before a House subcommittee, the CFPB's Antonakes emphasized the fundamental importance of data analysis to the bureaus mission.Read More
Mortgage Employment Begins to Fall, But FBR is Bullish on Lending July 9, 2013 Paul Muolo Any lender that has refis greater than 50 percent could be at risk for layoffs, said one industry consultant.Read More
Short Takes: Its Gain-on-Sale Confession Time / Treasury Illegally Glomming onto GSE Profits? / Foreclosures Fall 27 Percent, But / More Details from Richey May on Mortgage Comp July 9, 2013 George Brooks, Paul Muolo, and Charles Wisniowski A few days the megabanks will reveal 2Q earnings, letting us know how gain-on-sale margins are holding up.Read More
Springleaf Shifts to Delinquent Mortgages in Latest Non-Agency MBS July 8, 2013 Brandon Ivey As with previous MBS issued by Springleaf, the mortgages in the security were originated by firms owned by Fortress Investment Group.Read More
Ocwen Completes Massive Subprime MSR Transfer to Affiliate July 8, 2013 Paul Muolo The sale price breaks down as follows: $2.43 billion for the servicing advances and $241 million for the MSRs.Read More
PennyMac Agrees to Buy NPLs From Citigroup July 8, 2013 Paul Muolo Citigroup, which runs an active NPL trading desk, acquired the assets from a large money-center bank. Read More
Short Takes: How Much Does Your Mortgage CEO Make? / Georgia Lender Blows Up? / The Fear of Eminent Domain Lives On / Total Mortgage Services Plans to Buy a New HQ Building July 8, 2013 George Brooks and Paul Muolo New report sheds light on how much nonbank mortgage workers earn.Read More