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Short Takes: UWM Removes LLPAs on Certain Loans / New Mortgage Applications Come Roaring Back / Tempering Optimism with a Government Shutdown / Seterus’ Leslie Peeler? / Complaints Registered

January 9, 2019
Paul Muolo
Four years ago, Leslie Peeler, the Fannie Mae senior vice president in charge of the GSE’s servicing decisions, left the mortgage giant for Seterus.
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Short Takes: $249 Million in Mortgage Payments at Risk? / Will Trump Order Fannie and Freddie to Stand Down? / Assessing Mark Calabria / Lovell Buys ATTOM / LoanLogics Hires Mortgage Tech Vet

January 8, 2019
Namrata Bhatia, Brandon Ivey, and Paul Muolo
Overwhelmingly, industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate.
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Short Takes: IRS Cranks Up the IVES Machine Again / Otting at FHFA, Day 1 / AltLoan Enlists a New Capital Markets Partner / 45 Percent Plan to Enter the Non-QM Space This Year / Academy LO Joins Bay Equity Home Loans

January 7, 2019
Brandon Ivey and Paul Muolo
Roughly 45 percent of respondents said they definitely will enter the the Non-QM market this year.
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Freddie Says Single-Family Rental Program Was a Hit

January 4, 2019
After having initially been brushed off as unnecessary, a pilot program that allowed Freddie Mac and Fannie Mae to help finance single-family rental activity is now being hailed a success.
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Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client

January 4, 2019
Paul Muolo
Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.
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MBS/ABS Market Ends Year with Lackluster Production. Weakest Reading in Five Years

January 4, 2019
John Bancroft
The biggest reason for the slump: the decline in single-family MBS production by Fannie, Freddie and Ginnie…
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Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client

January 4, 2019
Paul Muolo
Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.
Read More

What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director

January 4, 2019
Paul Muolo
One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus...
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Non-Agency Market May Get a Boost from FHFA

January 4, 2019
Industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate. “The nomination of Calabria should, in our view, be taken as an indication of the administration’s and the Treasury Department’s will to tackle housing reform proactively, rather than maintain the status quo,” analysts at Bank of America Merrill Lynch said. According to Wells Fargo Securities, Calabria’s nomination is one of the most significant ...
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A Not-So-Pretty 4Q18 for GSE MBS Issuance

January 3, 2019
John Bancroft
Fannie and Freddie continued to see a slippage in the purchase market…
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