Trump’s FHFA Appointee Expected to Curb GSE Footprint but Not Enough to Roil Housing November 1, 2018 John Bancroft Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”Read More
Short Takes: Should the GSEs Increase Servicing Compensation? / Hanging with Mr. Cooper at No. 3 / PennyMac’s Amended Repo Line / Strong Underwriting Income for Arch, KBW Likes Radian November 1, 2018 Paul Muolo David Fleig of MorVest: “We have numerous active conversations with clients thinking about selling MSRs and I am sure our competitors do as well.” Read More
Freddie Earned $2.7 Billion (Net) in 3Q18. Treasury Will Get $2.6 Billion October 31, 2018 Paul Muolo Freddie said it expects to make the $2.6 billion dividend payment in December.Read More
MIAC, Phoenix Capital Out with New MSR Offerings October 31, 2018 Paul Muolo According to the offering circular, the portfolio is top-heavy with Ginnie product... Read More
Short Takes: Judging Risks and Rewards at Freddie / The Gift that Keeps on Giving: The Trump Tax Cut / Despite Some Losses, Mortgage Bankers Remain Liquid / An Earnings Decline at Radian / Leaving Wells Fargo for a Nonbank October 31, 2018 Paul Muolo and Carisa Chappell Freddie Mac benefited to the tune of $200 million (pre-tax) by reducing the write-down on its net deferred tax asset...Read More
Freddie’s Layton: GSE CRT Economics Sometimes Misunderstood October 31, 2018 Carisa Chappell Freddie CEO Don Layton said the CRT deals are “amazingly efficient…”Read More
Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie October 30, 2018 Paul Muolo Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”Read More
A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle October 30, 2018 Paul Muolo Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…Read More
Short Takes: Parity for the FHLBs and FanFred? / Once a Contender / Newfi and Non-QM / Strong Earnings from First American but Anxiety Too / From Alibaba to MGIC October 30, 2018 Paul Muolo Roughly 40 percent of Newfi Lending’s current loan volume entails the origination of mortgages that do not meet the qualified mortgage test.Read More
MSR Transfers Boomed in 3Q18, Aided by Franklin American Sale October 29, 2018 John Bancroft The top five bulk MSR transfers were led by Franklin American, followed by Stearns, loanDepot, Flagstar and United Shore/United Wholesale Mortgage…Read More
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