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More Layoffs at Nationstar Mortgage – This Time in Production and Servicing

October 1, 2014
Paul Muolo
Although 114 servicing workers are losing their jobs in Nebraska, the lender/servicer will add as many servicing positions in the Dallas area over the next six months.
Read More

New Jumbo MBS From JPM Has Highest Average (Post-Crisis) Combined LTV

October 1, 2014
Brandon Ivey
The senior tranche on the Chase jumbo deal has credit enhancement of 9.90 percent.
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Short Takes: Top FHFA Regulator Bolts Agency for Private Sector / Why Did Walter’s Stock Get Hammered? / Community Banks Apparently Love Non-QMs / Homewood Introduces Stated-Income Product / Another Bite at the Refi Apple?

October 1, 2014
Paul Muolo and Brandon Ivey
Investors have been scratching their heads over the downdraft at Walter/Green Tree...
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WinWater Set to Issue Its Second Jumbo MBS; LTV Ratios Creeping Up

September 30, 2014
Brandon Ivey
The merger-hungry RPM Mortgage of California is the top contributor to the jumbo MBS with a 14.3 percent share.
Read More

Higher-Priced Mortgage Lending on the Rise?

September 30, 2014
Brandon Ivey
While higher-priced lending is on the rise, pricing on these originations isn’t nearly as high as it was in the subprime boom.
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Fitch: Borrowers at Risk When Mortgage Servicing is Off-Shored

September 30, 2014
Paul Muolo
Fitch does not single out any servicers by name, but it’s common knowledge that both Ocwen Financial and Nationstar Mortgage have thousands of servicing-related workers housed in India...
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Wells Fargo MSRs Targeted by Ocwen Starting to Run Off

September 29, 2014
Paul Muolo
The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...
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Jumbo MBS with Originations Sourced by Five Oaks in the Works

September 29, 2014
Brandon Ivey
Five Oaks plans to buy some of the subordinate tranches of the new jumbo MBS.
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Mortgage Unit of Home Builder Ready to Enter Non-QM Market

September 29, 2014
Paul Muolo
Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.
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Short Takes: CFPB Slams Flagstar Over Mods / No, a New Mortgage Trade Group is NOT Forming / BofA Transferring MSRs to Shellpoint / Merger of Two FHLBs an Aberration? / NJ Senator Intros Share-Appreciation Mortgage Bill

September 29, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.
Read More
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Latest Imf News

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