Prospect Mortgage is the top contributor with a 9.1 percent share, followed by Ditech Mortgage (8.6 percent) and Skyline Financial (7.1 percent). All three are nonbanks.
The repo is contingent upon PennyMac – a publicly traded REIT – maintaining minimum tangible net worth of $860 million and minimum unrestricted cash of $40 million.
An official involved in the non-agency MBS market said it’s easier to sell private placements than it is to meet requirements for publicly registered deals
The DBO request for proposal asks that applicants for the Ocwen contract state whether they – or any affiliates – have done any consulting work for the servicer.
Fannie Mae and Freddie Mac are more than halfway towards reaching their goal of reducing their retained mortgage portfolios to no more than $250 billion each by 2018, according to Federal Housing Finance Agency Director Mel Watt. Testifying before the House Financial Services Committee this week, Watt said the two government-sponsored enterprises have developed plans to meet their investment targets, $250 billion each, in accordance with terms of their conservatorship. As of Sept. 30, 2014, Freddie’s portfolio stood...
Titan Capital Solutions has branched out from its jumbo correspondent investor niche into the scratch-and-dent market to take advantage of new business opportunities arising from repurchase demands and loans that aren’t qualified mortgages. The Denver-based correspondent investor has begun purchasing loans rejected by Fannie Mae and Freddie Mac and private investors due to information, document and compliance errors. Historically, “scratch-and-dent” ...
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