‘Risk Fee’ or No Fee: Different Approaches for Fannie and Freddie January 13, 2016 Carisa Chappell In the past, some lenders have complained about forced buybacks because of loan defects even when a mortgage is current.Read More
Smooth Sailing Ahead for New Breed of ‘Alternative Doc’ Mortgages? January 13, 2016 Brandon Ivey Alternative-documentation verification in the current market typically includes a review of bank statements, W2s, pay stubs, assets and more...Read More
MountainView, IMA Out With New MSR Deals January 13, 2016 Paul Muolo The $3.02 billion of Ginnie Mae rights that IMA is selling are presently being subserviced by LoanCare Servicing, Virginia Beach, VA.Read More
Short Takes: We Don’t Need No Stinkin’ FICO Scores / Will TRID Hurt Earnings? / TRID was a ‘Blip’ on the Radar at RPM / More NPL Sales by Fannie / Stonegate Exec Departs for Ditech January 13, 2016 Paul Muolo Shelly Logemann, a top producer and branch manager for the privately held RPM, told us “TRID was a blip on the radar..."Read More
Short Takes: FHFA to Industry: Thanks for Your 400 Comments, but No / Mortgage REITs are Not Happy / IMA Selling $3B in Ginnie MSRs / Schneider’s Salary Revealed / Executive Leaves Altisource for Altavera January 12, 2016 Paul Muolo In other words, the regulation to ban captives from entering the system moved forward despite overwhelming industry opposition… Read More
Nonbank Share of GSE Business Approaching the 50 Percent Mark January 12, 2016 John Bancroft Quicken Loans, ranked second overall in GSE loan deliveries last year, growing its business by 32.2 percent…Read More
It’s Official: FHFA Bans ‘Captives’ From FHLB System; $35 Billion in Advances Must Go – Eventually January 12, 2016 Carisa Chappell and Paul Muolo REITs have gained access to the FHLB discount window with the goal of leveraging their investments in both MBS and servicing rights. Read More
While Many New Originations Haven’t Been Compliant with TRID, Fitch Projects Modest Risk for Non-Agency MBS January 12, 2016 Brandon Ivey The guidance from Fitch could ease some fears among purchasers of non-agency mortgages...Read More
In a Fading 4Q Market, Lenders Lean More on Correspondent and Wholesale Channels January 11, 2016 John Bancroft While nonbank residential lenders lean a little more on TPO channels, banks are still the driving force in the correspondent market… Read More
Citi Prevails in Loan Buyback Dispute – Thanks to Contract Language January 11, 2016 Brandon Ivey CitiMortgage filed the lawsuit after Chicago Bancorp refused to repurchase 11 mortgages.Read More
RSS