The Largest Investor in GSE Common (Pershing Square) Still Seems Bullish, but… December 30, 2015 Paul Muolo Over the past year, the share price of GSE common has tanked, at least on a percentage basis.Read More
CFPB Issues TRID ‘Clarifying’ Letter; GSEs Won’t Conduct ‘Routine’ Post Purchase Reviews December 30, 2015 Thomas Ressler The CFPB letter is aimed at preventing the secondary mortgage market from getting clogged up... Read More
Short Takes: The loanDepot IPO Could Happen in 2016 / Just Because the CFPB Issues a Letter That Doesn’t Mean Some Lawyer Somewhere Won’t Sue / FA: Fraud Risk Rises in FL / Radian Becomes PMIER Compliant December 30, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo Now that the Consumer Financial Protection Bureau has issued a “clarifying” letter on TRID errors, all is well, right? Not necessarily...Read More
California Remains the GSE Loan King December 29, 2015 Paul Muolo California also has the distinction of having one of the higher broker-GSE ratios in the nation: 21.5 percent. Read More
Behind the GSE Risk-Share Goals: Why Next Year’s Activity Could Turn out to be Less December 29, 2015 John Bancroft In 2015, the two GSEs sold credit risk on about $407 billion of UPB through their back-end risk-transfer programs. The actual amount of credit risk transferred was $12.6 billion.Read More
More Front-End Changes to Deal With: GSE Loan Application Will Undergo a Major Redesign December 28, 2015 Carisa Chappell New data fields will be added to support Fannie’s and Freddie’s requirements, as well as those required by the FHA, VA, USDA and CFPB...Read More
MorVest Capital Unloads Ginnie Mae MSRs; Another Deal in the Works December 28, 2015 Paul Muolo The new offering is in the $1 billion range. MorVest hopes to complete the sale by the end of January.Read More
Will Ginnie Mae Pass Freddie Mac in MBS Outstanding? December 23, 2015 John Bancroft Ginnie Mae production topped Freddie Mac’s issuance in 2014 and was comfortably ahead after the first 11 months of this year.Read More
Short Takes: TRID Nightmares Continued / ‘I’ve Aged Five Years in the Past Month’ / Freddie Contemplates Marketplace Lending: A Flash in the Pan? / Foreclosures Continue to Head South December 23, 2015 Carisa Chappell, Paul Muolo, and Sherry Muolo Sean Becketti, Freddie’s chief economist, said, “It's too soon to tell whether marketplace lending is the next Uber or just another flash in the pan…”Read More
FHFA Issues Final Rule on Suspensions Under ‘Counter-Party’ Program December 23, 2015 Carisa Chappell The final rule from the FHFA also simplifies the standard for issuing suspension orders...Read More