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Short Takes: Flagstar Admits It’s Working on a Large MSR Sale / Showing the Love for Fannie and Freddie / Some Good News on Mortgage Employment / CoreLogic Reports Earnings After the Bell / PCV’s New Product

October 23, 2013
Paul Muolo
Flagstar has finally admitted that it's close to selling a ton of MSRs. But if you want details, don't hold your breath.
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Shellpoint Scraps Jumbo MBS Due to Better Whole Loan Execution

October 22, 2013
Brandon Ivey
When in doubt, use the whole loan market. Shellpoint Partners is giving up, for now, trying to issue a jumbo MBS.
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CFPB Holds Firm on January Implementation Date for New Mortgage Rules

October 22, 2013
Thomas Ressler
Addressing the annual convention of the American Bankers Association, the CFPB chief stressed that his agency is proceeding full speed ahead with the January implementation of its mortgage rules.
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Bill Dallas, Through Skyline, Returns to Wholesale Lending

October 22, 2013
Paul Muolo
A few years ago, industry veteran Bill Dallas wasn't so crazy about loan brokers. But he has apparently changed his mind.
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Short Takes: Essent Prices IPO/ Don’t Worry About the NSA, Worry About the CFPB / A Common GSE MBS Too? / Banks Will Have to Escrow Flood Premiums / A New Mortgage Co-op Rises

October 22, 2013
George Brooks, Paul Muolo, and Thomas Ressler
At least two young mortgage insurance firms hope to go public by yearend. But how might the market receive these deals with so much uncertainty surrounding the GSEs?
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First Republic Tops Jumbo MBS Contributors

October 21, 2013
Brandon Ivey
Through September $2.1 billion in originations by First Republic were included in jumbo MBS this year. The loans accounted for 17 percent of all non-agency jumbos securitized, according to exclusive figures compiled by Inside Nonconforming Markets.
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16-Day Partial Shutdown of U.S. Causes 60-Day Recovery at FHA

October 21, 2013
Brandon Ivey
Thanks to the government shutdown, the FHA backlog includes processing endorsements for home-equity conversion mortgages.
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JPMorgan, BofA Poised to Pay Billions to Settle FHFA MBS Litigation?

October 21, 2013
Charles Wisniowski
Meanwhile, sources told Inside Mortgage Finance that the FHFA is looking to extract several billion dollars from Bank of America to settle claims that its Countrywide Financial division sold the GSEs toxic MBS.
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Securitization of ‘Excess’ Mortgage Servicing Rights Gains Momentum

October 21, 2013
Paul Muolo
According to one servicing advisor, large banks – including Wells Fargo – have been quietly selling excess servicing rights through private securitizations.
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Short Takes: Mortgage Employed and Laid Off in the Hinterlands / Florida Lender Cuts Staff? / The Worst Mortgage Purchase in History / Wells Fargo Downgrades PennyMac, Nationstar / Interthinx Hires Former MBA Chair

October 21, 2013
Paul Muolo
One mortgage recruiter noted that job losses in somewhat rural communities can be a big problem for workers. “Sometimes they’re the largest employer in town and there’s nowhere else to go,” he said.
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