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‘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.
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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…
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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.
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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...
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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…
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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…
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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...
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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...
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Short Takes: Just Because You’re Kicked Off the NYSE, That Doesn’t Mean… / Buying an MB for Diversification Purposes / A 10 Percent Broker Market Share and Holding / Clayton and Angel Oak / Nationstar is Hiring!

August 29, 2016
Paul Muolo
The nation's fourth largest servicer, Nationstar Mortgage, will hold a job fair on Sept. 12 at the Maude Cobb Convention Center in Longview, TX.
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REIT MBS Holdings Up Modestly in 2Q16 With Most of the Increase Coming From Two Harbors

August 26, 2016
Real estate investment trusts that specialize in residential MBS posted a slight increase in their agency MBS holdings during the second quarter of 2016, along with a drop in non-agency MBS. The 16 publicly traded mortgage REITs tracked by Inside MBS & ABS had a combined residential MBS portfolio of $234.65 billion at the end of June, a gain of 0.9 percent from the previous quarter. However, 11 of the institutions reported declining balances, including the two largest REITs at the top of the ranking. Two Harbors Investment reported...[Includes one data table]
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