Despite Slump in ‘Conforming-Jumbo’ Market, Big-Ticket Mortgages Fared Well in Late 2015 March 9, 2016 John Bancroft Refinance activity was heavy in the first half of 2015, and jumbo borrowers typically have more to gain by pulling the refi trigger. Read More
It’s Nice to Have Goals and Initiatives, but They’re Costing the GSEs Plenty March 9, 2016 Paul Muolo In dollars and cents, additional spending at Fannie totaled $726 million over the four-year period, while at Freddie the reading was a more benign $376 million.Read More
Zais Kills Conduit, Starts Selling Seasoned Loans; A Sale is a Possibility Too March 9, 2016 Brandon Ivey Zais said a strategic review of the REIT will continue, including exploration of a possible sale or even a liquidation of the company’s assets.Read More
Another Top Executive Departs Clayton: Joe D’Urso Is Out as President; Former Blackstone Executive Named as Interim March 9, 2016 Paul Muolo D’Urso is the second top executive to leave Clayton over the past six months. Another key departure came this past fall when Tom Donatacci left...Read More
Short Takes: GSEs Have Spent $206 Million on the Common Securitization Platform / D’Urso’s Departure was a Surprise to Him Too / Paulson & Co. Reduces Stake in Radian / Treasury Shifts Money From MHA Program to HHF March 9, 2016 Brandon Ivey and Paul Muolo Sources close to D’Urso said his termination by Radian was a “total surprise” to him as well.Read More
More Fannie/Freddie Buyback Relief Waiting in the Wings? March 9, 2016 John Bancroft The Federal Housing Finance Agency cautioned that the pilots are in their early stages...Read More
‘Deal Agent’ Could Help Revive Non-Agency Market; A True Revival Will Take Some Time; Treasury Department Weighs In March 8, 2016 Brandon Ivey The Treasury Department helped facilitate discussions among the working group...Read More
MountainView Selling $1.5 Billion GSE MSR Portfolio March 8, 2016 Paul Muolo After rates plunged earlier in the year, servicing auctions slowed somewhat, but are once again hitting the market. Read More
GSE MBS Market Share Continues to Fall; 2015 the Lowest Reading In Eight Years March 7, 2016 John Bancroft February’s new issuance was also the lowest monthly total for the GSEs since May 2014...Read More
The Jumbo MBS Drought is About to End March 7, 2016 Brandon Ivey Fitch didn’t adjust its loss expectations due to TRID compliance issues, noting that the risk for investors was “immaterial...” Read More