Flagstar Packages GSE-Eligible Mortgages on Investment Properties into Non-Agency MBS May 15, 2018 Brandon Ivey Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.Read More
Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer May 15, 2018 Carisa Chappell and Paul Muolo Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...Read More
Secondary Market Activity Strong in 2017 May 14, 2018 John Bancroft Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…Read More
Lenders Quantify Cost, Impact of CFPB’s ATR Rule May 14, 2018 Brandon Ivey Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs.Read More
Nonbanks Ready to Crank up the Non-QM MBS Machine May 11, 2018 Brandon Ivey Starwood Property Trust, a REIT largely focused on commercial mortgages, has been stockpiling non-QMs…Read More
Impac Posts a $3.9 Million Profit for 1Q18, Aided by MSR Markup. Originations Drop 20.1 Percent May 10, 2018 Brandon Ivey New CEO George Mangiaracina said the nonbank’s servicing portfolio is serving as a counter-cyclical balance to declining originations…Read More
Non-QM Lender Angel Oak Ventures into Small-Balance Commercial Market May 10, 2018 Paul Muolo Angel Oak's small-balance commercial unit employs 19 full-timers and hopes to add an additional 30...Read More
Retail, Mortgage Brokers Dominate in Expanded-Credit Lending May 8, 2018 Brandon Ivey MBS from Angel Oak Companies had the highest share of broker originations…Read More
Redwood Posts a Handsome Profit for 1Q18, Reports Strong Demand for Jumbos May 8, 2018 Brandon Ivey Redwood is set to issue its largest expanded-credit MBS ever: A $520.48 million security backed by…Read More
Short Takes: Ditech Sets Comp Package for New CEO Marano / Share Price Struggles / Two Ditech Directors Take Home the Bacon / GE Sets Aside $1.5B for WMC Settlement / Better Hires CFO May 8, 2018 Paul Muolo Ditech directors – George Awad and Neal Goldman – had pay packages of $573,700 and $553,500, respectively. Read More