Short Takes: Another Nonprime Lender Gets Rated / MorVest Wraps Up GSE MSR Auction / PennyMac’s Financing Deal / A Bright Idea and Others / BB&T Names New Prez / A Short Publishing Break for IMFnews December 22, 2016 Paul Muolo Another non-agency lender has received a rating from Fitch: Angel Oak Home Loans... Read More
OCC Warns of Credit Risk as Banks Loosen Underwriting Standards for Mortgages December 21, 2016 Brandon Ivey The OCC’s study covers 85 banks that originate first-lien mortgages…Read More
Subservicing Continues to Gain Market Share; Cenlar Maintains Dominance December 21, 2016 Paul Muolo The privately held Cenlar ended the third quarter with a subservicing market share of 25.6 percent, Inside Mortgage Finance found.Read More
Fitch Assigns Subprime Servicer Rating to Citadel. Could a ‘Rated’ Nonprime MBS Deal be Next? December 21, 2016 Brandon Ivey The company doesn’t outsource or offshore any of its servicing activities.Read More
New Home-Equity Lender Could Fund $450 Million in 2017; Seeks to Hire LOs December 21, 2016 Paul Muolo Shellpoint owns part of Spring EQ and both firms have common owners.Read More
Interest-Only Originations Falter (For Some) in 3Q16 December 20, 2016 Brandon Ivey After PHH Mortgage, the other top IO producers in 3Q16 were JPMorgan Chase, First Republic Bank, MUFG Union Bank, and Citibank. Read More
AMC Dominates Third-Party Due Diligence Completed on Non-Agency MBS December 20, 2016 Brandon Ivey Fitch said AMC’s market share of due diligence on non-agency MBS was boosted by the acquisition of JCIII & Associates a year ago.Read More
New Penn CEO Jerry Schiano Launches ‘Home Equity’ Lender Targeting the ‘Underserved’ December 20, 2016 Paul Muolo The startup is emphasizing its “user-friendly digital” loan process…Read More
Proposals Not Enough to Revive Non-Agency MBS Market December 19, 2016 Brandon Ivey A little less than $10.0 billion in prime non-agency MBS will be issued in 2016, according to estimates by Inside Nonconforming Markets.Read More
What We’re Hearing: As Rates Move Higher, Disaster Looms for the Mortgage Industry (Not Really) / The Stock Market Will ‘Correct’ on This Date… / New Fannie Survey Finds Lenders Glum / He’s Back: Nonprime Veteran Jon Daurio December 16, 2016 Paul Muolo If rates don’t improve in the next few months, one area where lenders will try to save money is on loan officer compensation... Read More
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