Most Products Saw a Decline in 3Q18, but Expanded-Credit Loans Bucked the Trend November 8, 2018 John Bancroft A few mainstream lenders are starting to take notice, but most of the action is at a handful of nonbanks that have spearheaded the sector’s rise…Read More
Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator November 8, 2018 Paul Muolo Several months ago, rumors began to surface that Pacific Union might be for sale...Read More
Redwood Accelerates Diversification Efforts, Remains Profitable in Third Quarter November 8, 2018 Brandon Ivey Redwood CEO Chris Abate: “Our game plan in the third quarter was a bit unconventional – we ran an up-tempo offense, squarely in the face of mortgage market headwinds.”Read More
Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too November 8, 2018 Paul Muolo About 41 percent of Impac's volume now entails non-QM lending...Read More
Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point November 8, 2018 Paul Muolo and Brandon Ivey UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...Read More
QM Patch Expiration Could Shift More High-DTI Loans to FHA November 7, 2018 George Brooks Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...Read More
Expanded-Credit MBS Underwriting Not Loosening Much, Prepayments Remain High November 7, 2018 Brandon Ivey Risk layering remains uncommon on the new breed of expanded-credit mortgages…Read More
LoanStream Branches Out into Correspondent, Aims to ‘Dominate’ the Market November 6, 2018 Brandon Ivey LoanStream was already originating nonprime mortgages via retail and wholesale outlets...Read More
Rated MBS Backed by Fix-and-Flip Bridge Loans Likely November 6, 2018 Brandon Ivey Fix-and-flip financing has gradually increased each year since 2011…Read More
Short Takes: Calabria for the FHFA Job? / Egenhoefer’s New Gig? / Ocwen’s Share Price Gets Clocked / WAMCO Prepares EC MBS / Invitation Homes’ SFR Inventory / Fast-Growing Servicers November 6, 2018 Paul Muolo and Brandon Ivey Among the nation’s top 20 servicers at Sept. 30, Freedom Mortgage had the largest increase its MSR balances...Read More
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