A Small Revival for Subprime? Two New MBS Deals Hit the Market. Nomura Had a Role in Both August 24, 2016 Paul Muolo In total, there are 573 loans backing the Deephaven MBS…Read More
Short Takes: Not Everyone Loves the New Fannie, Freddie Application / Okay, Who Bought the Subprime Deals? / PennyMac Gets Repo Line from JPM / MountainView Selling MSRs / Apps Fall August 24, 2016 Paul Muolo One source said that in the Angel Oak transaction, bidding started with eight investors… Read More
Non-QM Lending Stuck in a Funk? August 22, 2016 Thomas Ressler Investors are more willing to buy non-QM loans as long as they are Alt A in nature, industry sources told Inside the CFPB…Read More
What We’re Hearing: LO Jobs in Danger From Hal? / How Many Mortgage Loan Officers Are There? / The Human Touch / American Home’s Michael Strauss is Back with Nonprime Lender / 'Alt A' Lending May Return August 19, 2016 Paul Muolo Of course, it’s debatable how many LO jobs might disappear through automation...Read More
‘Fix & Flip’ Lender Raises $10 Million, Has its Eye on $100 Million August 18, 2016 Paul Muolo Most of its production is tied to homes in the Golden State but CALCAP hopes to go national one day.Read More
Angel Oak’s Second Nonprime MBS Deal is Still a Go… August 18, 2016 Paul Muolo Angel Oak’s first nonprime MBS came to market in December of last year and was backed by collateral with an average interest rate of 7.51 percent.Read More
Short Takes: Freedom, Now the Big Kahuna of FHA & VA / Quite an FHA Decline for BofA / Job Cuts at Ditech / Bad Timing / A New Subprime MBS? August 18, 2016 John Bancroft and Paul Muolo Will the last megabank left in the FHA market please turn off the light...Read More
Caliber Only Major Subprime Servicer to Show Growth in 2Q16 August 17, 2016 Brandon Ivey However, Ocwen is still prohibited from buying bulk servicing rights until it receives regulatory approval from certain states…Read More
Jumbo MSR Market Hit $863 Billion at Mid-Year August 16, 2016 Brandon Ivey Second-ranked Chase Home Finance serviced $176.60 billion of jumbos at June 30, up 4.1 percent compared to 1Q16…Read More
Sequential Decline in Non-QMs at Impac Blamed on Refi Activity August 16, 2016 Brandon Ivey Impac president Bill Ashmore said that at the end of 2Q, the lender had a $115.0 million pipeline of non-QM originations, about level compared to the pipeline the lender had at the end of the previous quarter.Read More
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