How to Shrink the GSE Footprint Without Having to Ask Congress To Do Anything December 7, 2018 John Bancroft Want to shrink Fannie and Freddie? Cut investor loans, then move on to cash-out refis…Read More
What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home December 7, 2018 Paul Muolo If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...Read More
Short Takes: Stock Market Ugly / Bring on the Cash-out Refis? / GSE Stocks Can’t Catch a Break / Carrington Readies First Non-QM MBS / New Penn Unveils New Name: NewRez December 6, 2018 Brandon Ivey and Paul Muolo Carrington Mortgage is working on its first non-QM securitization...Read More
Cerberus Affiliate Packages Seasoned Second Liens in Non-Agency MBS, a First for Post-Crisis Issuance December 5, 2018 Brandon Ivey Towd Point Mortgage Trust 2018-SJ1 is the first post-crisis non-agency MBS backed by second liens to receive a credit rating.Read More
HFSC Hearing on GSE Bill Postponed. Time is Running out for Chairman Hensarling… December 5, 2018 Paul Muolo Some industry lobbyists believe the Senate Banking Committee hearing on GSE pilot programs will not be held this year at all. Read More
Warehouse Commitments Shrink as Nonbanks Struggle with Originations December 4, 2018 Paul Muolo Commitment levels are decent, but nonbanks just aren’t using the lines they’ve been granted.Read More
With No Chance of Passage, Hensarling’s GSE Reform Bill Gets an Airing on Thursday December 4, 2018 Paul Muolo When the measure was first introduced, one housing lobbyist quipped: “This is like someone laying on their death after drinking and sinning and finally realizing they need to get baptized. This is not being introduced for good political reasons.”Read More
Short Takes: Nomura and Ditech? / Ocwen Sets a New Low / Fannie, Freddie and NPL Sales / Citadel’s Growth in Nonprime Servicing / A New Hire for Mortgage Network December 4, 2018 Brandon Ivey and Paul Muolo Fannie Mae and Freddie Mac continue to sell NPLs but for how long?Read More
VA Prepares to Move Against Abusive Cash-Out Refis, but Details are Light December 3, 2018 John Bancroft The VA notice says there are “urgent and compelling circumstances” that warrant issuing an interim final rule that will go into effect quickly.Read More
Prime Non-agency MBS May Plateau, Nonprime and Expanded Prime Expected to Grow December 3, 2018 Brandon Ivey KBRA said nonprime issuance in 2019 should benefit from an increase in origination volume and other efficiencies…Read More
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