Warehouse Sector Saw Improvement in Second Quarter, But... September 10, 2014 Paul Muolo Wells and JPMorgan Chase are no longer the dominant forces they once were in warehouse lending, ceding market share to more nimble bankers...Read More
Treasury Doesn’t Have FHFA’s Back on FHLB-Captive Issue September 10, 2014 Paul Muolo One observer familiar with Stegman’s remarks said, “I think it’s clear that he likes what Redwood is doing in the system.”Read More
Sen. Warren Grills Regulators Over Lack of Mortgage Banker Prosecutions September 10, 2014 Thomas Ressler Sen. Richard Shelby, R-AL, agreed with Warren’s criticism of the government’s failure to prosecute individual bankers, but he faulted the Department of Justice, not financial regulators...Read More
Short Takes: Nonbanks Rule in the Capital Category? / Don’t Even Ask About the Wells-Ocwen MSR Deal / Mortgage Applications Tank / Fannie and Freddie Beat the Tax Man / Cordray on HMDA September 10, 2014 Paul Muolo, Thomas Ressler, and Charles Wisniowski We understand that when stock analysts meet with Ocwen management, executives at the nonbank usually tell them to not even ask about the deal.Read More
Mortgage Buybacks by Depositories Fall to Lowest Level Since 1Q 2008 September 9, 2014 John Bancroft Bank of America was once again the buyback king at the midway point in 2014.Read More
FHFA Chief Expands (Slightly) on Excluding ‘Captives’ from the FHLB System September 9, 2014 Paul Muolo As reported by IMFnews, 18 current members are affected by the proposed ban on captives, seven of which are mortgage real estate investment trusts.Read More
Stonegate Mortgage Likely to Securitize Residential Servicing Rights September 9, 2014 Paul Muolo Since the housing bust, very few mortgage firms have securitized MSRs, though they have used securitization vehicles for advances.Read More
‘Loans Serviced for Others’ Continue to Fall at Depositories September 8, 2014 John Bancroft A number of banks have been motivated to reduce their MSR holdings because of concentration limits imposed by the emerging Basel risk capital rules. Read More
FHFA May Keep G-Fees Flat or Offer a ‘Token’ Increase; MBA Says No to Any More Hikes September 8, 2014 Paul Muolo In general, the industry believes a g-fee hike may not happen after all, but then there's all those "other charges."Read More
Sources: Bank of America Sold $3 Billion in Nonperforming Mortgages September 8, 2014 Paul Muolo One source said the $3 billion “traded a few weeks back,” but could offer no more color on the transaction.Read More