Short Takes: Bill Ashmore’s Next Move / Richard Pickup, the Largest Investor in Impac / Weaker Results for PennyMac, the REIT / A New Hire for MBA November 3, 2017 PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."Read More
After 22 Years as President of Impac, Bill Ashmore Calls it a Day November 3, 2017 Paul Muolo No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…Read More
What We’re Hearing: The Mortgage Cycle Turns / PE Firms Ready to Pounce? / Show Mr. Cooper the Door? / Impac in Play? / loanDepot Retail Chief David Norris Departs for Law Enforcement Project / More Nonprime MBS on the Way November 3, 2017 Paul Muolo Ocwen will not be sold through a stock deal, but Nationstar could be...Read More
Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch & Dent’ Loans November 2, 2017 Paul Muolo According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines.Read More
Redwood Set to Issue its Second ‘Expanded Prime’ MBS, Suggesting Strong Origination-Volume and Investor Demand November 1, 2017 Brandon Ivey The total unpaid principal balance for mortgages backing the deal has yet to be disclosed.Read More
Little Change in MBS Characteristics in 3Q17 November 1, 2017 Brandon Ivey Flagstar Bank was the top originator of loans that fed prime non-agency MBS in the third quarter…Read More
Prime Non-Agency MBS Issuance Catches Fire in October October 31, 2017 Brandon Ivey In the Chase MBS, 44.3 percent of the loans were originated by correspondents…Read More
Deephaven Brings New Nonprime MBS with Angel Oak as Top Contributor October 31, 2017 Brandon Ivey It’s Deephaven’s third nonprime MBS deal of the year…Read More
Sharp Differences in Denial Rates for Jumbos; Some Nonbanks Have Turn-Downs North of 40 Percent October 30, 2017 Brandon Ivey In 2016, the overall denial rate for applications for jumbo mortgages was 18.6 percent. Read More
An Earnings Decline for MSR-Hungry New Residential; Servicing Portfolio Drops as Well October 27, 2017 Paul Muolo During 3Q, New Residential agreed to buy $3 billion of “flow” servicing rights from an unnamed seller.Read More
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