Trouble Brewing? FHA and VA Delinquencies on the Rise October 24, 2018 John Bancroft No wonder Ginnie Mae Acting President Michael Bright is nervous: Short-term default rates showed the biggest increases…Read More
Short Takes: Honey, If You Put Any More Money Into that Mortgage Company… / Citadel (Officially) Branches Out into SBCL / $400 Million Next Year? / Fannie Mae Sees Ghost Companies / When Bullying Might Work (Trump and Powell) October 24, 2018 Paul Muolo Fannie Mae continues to mine for non-existent companies that might show up on the consumer loan applications submitted to its seller-servicers...Read More
Senate Banking Committee Hearing on GSE Pilots is Back On – Post Election October 23, 2018 Paul Muolo Cowen expects the next FHFA director to either terminate the GSE pilots or let them expire...Read More
CFPB Tweaks Ways to Convey Supervisory Findings October 23, 2018 Yemeng Yang In February, the CFPB issued a request for comment regarding its supervisory programs…Read More
Flagstar’s Originations Up Slightly in Third Quarter, GOS Takes a Hit October 23, 2018 Brandon Ivey Correspondent production accounted for 76.1 percent of Flagstar’s originations during the quarter...Read More
Short Takes: A 52-Week Low for Texas Capital / But Strong Earnings / Concern over the Future of Warehouse Lending? / TIAA’s Third Non-agency MBS / HomeStreet Sees Lower Production, Dark Clouds October 23, 2018 Brandon Ivey and Paul Muolo TIAA is preparing to issue its third prime non-agency mortgage-backed security of the year...Read More
Ginnie Mae to Require Servicer, Credit Ratings for Largest Issuers October 22, 2018 George Brooks Ginnie will soon require its largest issuers to secure servicer ratings and, in some cases, credit ratings…Read More
Phoenix Capital Selling Ginnie Mae Servicing Rights October 22, 2018 Paul Muolo Florida loans account for the largest chunk of the receivables at 13 percent...Read More
Short Takes: HUD Shows its Enforcement Stripes / Otting, the Next (Interim) FHFA Director? / Sprout Mortgage Feeds Verus Nonagency MBS / Mayer Brown Hires CMG Attorney October 22, 2018 Brandon Ivey and Paul Muolo Otting is Comptroller of the Currency. The speculation is that he will pull a Mick Mulvaney and wear two hats for a while…Read More
The Money Source Takes Aim on Subservicing October 19, 2018 Paul Muolo TMS President Ali Vafai said there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables.Read More
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