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Mid America Continues to Bid on TRID ‘S&D’ Loans; Expects Market Could Peter Out Eventually

February 22, 2016
Paul Muolo
A handful of firms broker TRID scratch and dent loans, including Rincon Mortgage Trading, Mortgage Delivery Specialists and Spurs Capital.
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Former FHA Chief Galante Named to Ocwen’s Board

February 19, 2016
Paul Muolo
A smart political move? Ocwen's board now includes former officials from the U.S. Treasury and FHA.
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Trustee Seeks Payout Guidance in BofA MBS Case; Morgan Stanley Agrees to $3.2B Settlement

February 19, 2016
The Bank of New York Mellon, acting as trustee, has petitioned the New York State Supreme Court for instructions for paying out Bank of America’s $8.5 billion cash settlement with Countrywide MBS investors, which could potentially alter the order of payment, according to an analysis by Moody’s Investors Service. The governing MBS documents and the settlement agreement are complicated, nuanced and ambiguous, the rating service noted. Without guidance from the state court, BNYM, as trustee for 530 RMBS trusts, could decide on a payout that could favor certain bondholders unexpectedly. The massive payout has been delayed...
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Shareholders in Altisource Warn of Conflicts of Interest with Former Chairman Erbey

February 18, 2016
Brandon Ivey
The shareholders demanded that a planned large acquisition of single-family homes by Altisource be halted...
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REIT Moves to Increase Funding Options by Launching Its Own Broker-Dealer

February 18, 2016
Brandon Ivey
The REIT's new broker-dealer unit is now fully staffed and is in the regulatory application process...
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REIT Rethinks Jumbos: Hatteras Will Reduce Presence in the Market

February 17, 2016
Brandon Ivey
At Hatteras Financial jumbos are "out" and mortgage servicing rights are "in"...
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Gone but Not Forgotten: Ocwen Founder Erbey Controls 17 Percent of the Company

February 17, 2016
Paul Muolo
Bill Erbey controls blocks of Ocwen's stock in his own name, but also through limited partnerships and limited liability corporations.
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Jumbo Originations Up Nearly 40 Percent in 2015; Market Share Highest in 10 Years

February 16, 2016
Brandon Ivey
Eight of the top 10 jumbo producers in 2015 were banks...
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Clayton Taps Former Morgan Stanley MGD Brian Wornow to Lead Capital Markets Group

February 16, 2016
Paul Muolo
In the spring of 2014, Wornow left Morgan Stanley as managing director and head of its MBS trading desk.
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Short Takes: Freedom Expands Beyond Mortgages / A Trend in the Making? / Midwest M&A, Maybe / DocMagic Offers TRID R&W / Cook’s Ditech Gets $300K Bonus /

February 16, 2016
Paul Muolo
A few days later, Ditech filed notice with the SEC that the company would pay Patti Cook a $300,000 bonus for her service to the company...
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