Lone Star to Issue Largest Post-Crisis MBS Backed by Nonprime. Caliber the Lead Originator September 7, 2016 Brandon Ivey Almost 53 percent of the loans in the bond are non-qualified mortgages and many of the rest are higher-priced QMs…Read More
Short Takes: A New Production Milestone for Citadel / Other Nonprime Funders / FBR Feels Quite Bullish About 2016 / A Focus on Mortgage-Centric Depositories / And the NPL Winners Are… September 7, 2016 Paul Muolo FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...Read More
‘Value’ Hedge Fund Kingstown Cuts Stake in Ocwen Financial September 6, 2016 Paul Muolo Kingstown is known as a value-oriented hedge fund, with roughly $1.5 billion of assets under management.Read More
New CFPB Rule on Servicing May Actually be Good in Some Ways September 2, 2016 Brandon Ivey Although the new requirements could prompt an increase in costs, analysts said a new requirement aimed at increasing the number of times troubled borrowers are evaluated for loss mitigation will be particularly helpful in certain states…Read More
Luther Burbank of California Pushing Non-QM Jumbos September 1, 2016 Brandon Ivey Some of Luther Burbank’s borrowers are more than 40 years old and receive financial support from their parents.Read More
Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official September 1, 2016 Paul Muolo Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...Read More
TRID Compliance Issues Disclosed on New Nonprime MBS from Angel Oak, Deephaven September 1, 2016 Brandon Ivey The originators believe they made a good-faith effort to address all TRID violations through the issuance of revised disclosures…Read More
Lone Star Prepares Second Nonprime MBS of 2016, Possibly the Largest Deal of the Post-Crisis Era August 31, 2016 Brandon Ivey The new security also will include mortgages originated by Sterling Bank & Trust…Read More
Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted August 31, 2016 George Brooks and Paul Muolo What Stevens describes sounds like something a trade group might want to do...Read More
Short Takes: Bank Says ‘We’re a Subprime Lender Too’ / No Ties to BofA / And the Big Three of Nonprime Lending Are… / REIT Exits NPL Market / Former MGIC Chief Lacy Dead at 71 August 30, 2016 Paul Muolo The largest nonprime (non-QM) lenders are likely (in no certain order): Citadel Loan Servicing, Deephaven Mortgage and Angel Oak...Read More
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