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Short Takes: Nonprime Lender Angel Oak Hires Correspondent Chief from Freedom Mortgage / A Nice Pay Check if you Can Get Fired / Can the Senate Banking Committee Count? / A QM Exemption? / Former MI, GSE Exec Gets Top Post at HUD

May 10, 2017
Paul Muolo and Thomas Ressler
PHH's new CEO, Robert Crowl, has a termination package that could be worth $4.54 million…
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It’s Time for the Fed to Scale Back its MBS Holdings, Former Fannie Economist Says

May 9, 2017
Thomas Ressler
The former Fannie Mae economist suggested the Fed should decide to have a measured reduction in its MBS holdings…
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As Part of ‘Duty-to-Serve,’ GSEs Release Details on Chattel Pilots

May 9, 2017
Carisa Chappell
Fannie and Freddie are being urged to bring liquidity to the “chattel” loan market…
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At Banks, Mixed Trends in Demand for Purchase Mortgages; Underwriting Loosened Slightly in 1Q17

May 9, 2017
Brandon Ivey
For GSE-eligible mortgages, 12.9 percent of the banks surveyed loosened their underwriting standards compared to the previous quarter…
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Short Takes: Pence Economist and GSE Expert Calabria Cancels Speech / Former OCC Chief Eugene Ludwig Pinch Hits / FHFA Notes Chattel Risks / A Sweet Deal for Redwood / Irving Mayor Gets HUD Post

May 9, 2017
Paul Muolo
The FHFA wants the GSEs to provide liquidity to the trailer home market but there are risks...
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GSEs Keep Pushing to Expand the Credit Box. But are they Satisfied? Is the FHFA?

May 8, 2017
John Bancroft
According to an Inside MBS & ABS analysis, the average credit score for GSE business in the first quarter was 745.1…
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Phoenix Selling Almost $5 Billion of Servicing Rights

May 8, 2017
Paul Muolo
The company that owns the portfolio was described in the offering circular only as an “experienced seller.”
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Moody’s: Trump Tax Reform a Credit Negative for Fannie and Freddie

May 8, 2017
Carisa Chappell
Industry observers like Tim Howard, a former Fannie CFO, said that while reducing the corporate tax rate would lower the taxes the GSEs pay in the long run, it would drain the value of their DTAs in the short term.
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Short Takes: KBW Questions the Value of CRTs for Fannie and Freddie / A Price Target of $1 a Share / Cardinal Enters Wholesale Arena / Stevens Weighs in on GSE Speculators / Greystone’s New Hire

May 8, 2017
Paul Muolo
Some in the industry believe the GSE common shares are essentially worthless with the junior preferred falling into the category of being a speculative bet.
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As Part of ‘Duty-to-Serve,’ GSEs Release Details on Chattel Pilots

May 8, 2017
Carisa Chappell
Much of the talk has centered on the GSEs aiding liquidity in the manufactured housing market...
Read More
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