Mortgage Broker Employment Hits Five-Year High May 16, 2013 Paul Muolo Loan brokerage firms are continuing to hire, even though their market share declined slightly in the first quarter.Read More
Short Takes: Okay, Who Paid $100,000 for Fannie Preferred? / Warehouse Firms Loosen HARP Standards / Mortgage Apps and Housing Starts Get Whacked / Ellington Investing in Toxic MBS / CFPB Goes Spanish May 16, 2013 Paul Muolo and Thomas Ressler One investor paid $100,000 per unit for a special class of Fannie Mae preferred. Read More
Servicer Behavior Could Drive Non-Agency MBS Performance This Year May 15, 2013 Brandon Ivey Feedback from residential servicers indicates that the number of new loan modifications on mortgages in non-agency MBS this year will be near levels seen last year. Read More
Short Takes: Turn the GSEs Into a Cooperative? / Share Price of Fannie Common Getting Frothy / FHA Finally Gets Some Good News / LPS Launches New Product / Fannie Ready for Modifications May 15, 2013 George Brooks, Paul Muolo, and Charles Wisniowski Why is the share price of Fannie Mae's junior preferred stock rising so much? Also, send Freddie Mac "back to the future"?Read More
Freddie Streamlined Modification Program to Boost MI Sector May 14, 2013 Paul Muolo A new modification program from Freddie Mac also will pay mortgage servicers $1,400 per unit for each successful loan restructuring. Read More
Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO May 14, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.Read More
Earnings Boost From Originations Offset Servicing Downturn in 1Q13 May 13, 2013 John Bancroft Income tied to residential servicing was down 27.7 percent for the 10 lenders as a group.Read More
IMA Closes Two Large Bulk MSR Sales May 13, 2013 Paul Muolo Investors have stepped up to the plate, buying new large bulk MSRs put out for auction by Interactive Mortgage Advisors. Read More
Forecasters Predict an Origination Swoon in 2013 May 13, 2013 John Bancroft Although 2013 will turn out to be a decent year in terms of residential production, next year could be quite ugly.Read More
Short Takes: More Investment Funds Salivating Over MSRs / Now BofA is Dumping Commercial MSRs / HLSS Continues to Take Advantage of Cheap Money / More Trouble for Chimera / Ten-Year Treasury Nears a Yearly High May 13, 2013 Paul Muolo Investment funds are continuing to salivate over mortgage servicing rights. Read More