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What We’re Hearing: Fairholme’s Berkowitz: Watt Will Fix the GSE ‘Zero Capital’ Problem / What’s $5 Trillion Among Friends? / The Termination and Transfer Option / A Tale of Two Mortgage Giants / Renren and Sindeo?

July 14, 2017
Paul Muolo
According to Fairholme’s math, the GSEs earn over $15 billion a year, and taxpayers own 80 percent of the companies (via the senior preferred). Berkowitz values the senior stock at $100 billion…
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Insured-Mortgage Business Posted Solid Gain in 2Q17

July 13, 2017
John Bancroft
Fannie Mae and Freddie Mac acquired $57.17 billion of single-family loans with private MI coverage during the second quarter…
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Wells Fargo’s Withholding of Funds from Non-Agency MBS Investors Prompts Action from Rating Services

July 13, 2017
Brandon Ivey
The deals are the subject of a lawsuit filed by MBS investors alleging that Wells Fargo failed to perform its duties as trustee...
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Ginnie Mae MBS Issuance Rides the Tide of Rising Home Sales

July 13, 2017
John Bancroft
The top three Ginnie Mae issuers in 2Q17 were PennyMac, Wells Fargo and Freedom Mortgage…
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Prime Non-Agency MBS Issuance Tumbles a Bit in 2Q17; JPM Leads the Market

July 11, 2017
Brandon Ivey
Some 15.2 percent of the mortgages in Chase’s second-quarter MBS were eligible for sale to the government-sponsored enterprises.
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Latest Non-QM MBS from Angel Oak Sees Strongest Pricing Yet

July 11, 2017
Brandon Ivey
Since 2015 Angel Oak has issued four MBS totaling $639.92 million…
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Short Takes: It’s Alive Again (Well, Sort Of) / Sindeo’s Roots / The Mortgage Tech Race / Happy Anniversary Fannie and Freddie (Soon) / New Hires for mREIT Giant Annaly

July 11, 2017
Paul Muolo
There's a race on to see who will be the first to deliver a best-in-class lending automation product that the consumer trusts, said consultant Paul Hindman...
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A Breakout Quarter for Nonprime MBS; $1.08 Billion of Deals in 2Q17

July 10, 2017
Brandon Ivey
“Rated nonprime non-qualified-mortgage transactions should broaden the investor base,” Deutsche Bank said.
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VRM Wins 10-Year Contract to Oversee REO, Service VA Loans

July 10, 2017
George Brooks
The deal was negotiated from a previous five-year contract that was awarded to VRM…
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Short Takes: More Regulations to Think About / $5 Trillion in ‘Tappable’ Equity / Don’t Forget to Audit Your Closing Agents / PennyMac Renegotiates Repo Deal / A New Hire for Mortgage Network

July 10, 2017
Paul Muolo
Time to audit your closing agents?
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