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FHFA Director Watt: ‘I’m Guilty of Having an Attraction to You, That is True’

September 27, 2018
Paul Muolo and Carisa Chappell
To date, Watt has maintained that he did not do anything legally wrong...
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Short Takes: Hensarling’s Long Goodbye / Not a Candidate to Head the FHFA / 15 More Recordings / A Large Non-QM MBS? / A Name Change for Sutherland

September 27, 2018
Paul Muolo and Carisa Chappell
Rumors were floating around this week that a large non-QM securitization deal could be in the works...
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IG Says Fannie/Freddie Fraud Reports Aren’t Being Effectively Used or Analyzed by FHFA

September 27, 2018
The Federal Housing Finance Agency could do a better job at utilizing the information it gets from Fannie Mae and Freddie Mac fraud reports, according to the agency’s Office of Inspector General.
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First Up to Testify Thursday at the HFSC FHFA Oversight Hearing: Simone Grimes, Mel Watt’s Accuser

September 26, 2018
Carisa Chappell
Simone Grimes, who holds the title of special advisor, is still employed by the agency.
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Short Takes: Speculation on What Mel Watt Might Say / Ocwen Schedules a ‘Special’ Meeting of Shareholders / NOLs of Roughly $400 Million / In the Event of a Change of Control? / FoA Rolls Out Second-Lien Reverse

September 26, 2018
Paul Muolo
Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change.
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Phoenix Capital Offering Fannie Mae ‘Flow’ Package

September 25, 2018
Paul Muolo
Roughly 86 percent of the mortgages are purchase-money loans...
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MBS Trading Sets a New Low for the Year

September 25, 2018
Paul Muolo
The trading peak for the year came in February at $239.2 billion.
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Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot

September 24, 2018
Paul Muolo
ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”
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Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA

September 24, 2018
Paul Muolo
Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise...
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Plenty of Investors Look Willing to Pick Up the Slack as the Fed Continues to Slowly Unwind Its Massive Holdings

September 21, 2018
Most of the major MBS investor groups added to their holdings during the second quarter of 2018, according to a new Inside MBS & ABS analysis. [Includes two data charts.]
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