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Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update

January 22, 2015
George Brooks, Brandon Ivey, and Paul Muolo
Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...
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S&P Settles Charges Regarding Ratings for Commercial MBS, Non-Agency MBS

January 21, 2015
Brandon Ivey
In settling, S&P did not admit or deny any of the allegations levied against the firm.
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Nonbanks See GSE Market Share Climb to 44.8 Percent; Freedom Stands Out

January 21, 2015
John Bancroft
Still, the four super-sized U.S. banks – those with more than $1 trillion in assets – continue to rank in the top five GSE sellers.
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Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire

January 21, 2015
Brandon Ivey and Paul Muolo
Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…
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Nationstar Closes on $8.5 Billion MSR Deal from ‘Top Four’ Servicer

January 21, 2015
Paul Muolo
Is Ocwen the seller of the MSRs?
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Mortgage Brokers Staged Comeback in 4Q14 with GSE Business

January 20, 2015
John Bancroft
Meanwhile, Fannie Mae and Freddie Mac continued to get less of their business from their five biggest customers.
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FHFA PMIER Rule Could be Accompanied by LLPA Announcement

January 20, 2015
Paul Muolo
“It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official.
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Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella

January 20, 2015
Paul Muolo
Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...
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Ocwen Full Steam Ahead on MBS Clean-up Calls and Ginnie Buyouts

January 16, 2015
Paul Muolo
A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.
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Non-Agency MBS Issuance Finished Strong in 2014, But Not Enough to Match 2013 Volume

January 16, 2015
Issuers of non-agency MBS finished 2014 with a flourish, as production totaled $10.63 billion in the fourth quarter, according to a new Inside MBS & ABS analysis and ranking. But despite a 4.1 percent gain during the fourth quarter, 2014’s total issuance of $35.14 billion came up 9.6 percent short of the total for 2013. The only sector that showed any growth last year was the scratch-and-dent market, where issuance was up 17.6 percent from 2013. In fact, securitization of nonperforming and re-performing mortgages accounted for...[Includes three data charts]
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