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It May be a Trying Time for Mortgages, but ABS Issuance Roars Out of the Starting Gate in Early 2018

April 20, 2018
John Bancroft
It was the best showing for ABS since the second quarter of 2008…
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Verus Aims to be a Significant Player in Nonprime (Non-QM)

April 20, 2018
Brandon Ivey
Verus counts among its competitors Angel Oak, Caliber Home Loans, Citadel Servicing, Deephaven Mortgage and SG Capital Partners.
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A Lesson Learned from MB Financial: Go Big or Go Home?

April 20, 2018
Paul Muolo
Tim Anderson of DocMagic: “You either get bigger or head for the exits.”
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New Lender Focuses on Jumbos, Tech

April 20, 2018
Eave, a direct-mortgage lender, launched recently with a focus on jumbo mortgages, technology and low fees. The originator, only operating in Colorado at the moment, claims to be able to close loans about twice as fast as “brand name” lenders. “We took the entire mortgage universe apart and put it back together, better,” the firm said, touting its underwriting process. The lender claims that more than 60 percent of the information collected by other lenders from ...
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Surprise: Ron Faris to Retire from Ocwen; Former PHH CEO Messina Named His Successor

April 19, 2018
Paul Muolo
Faris is a 27-year veteran of Ocwen, a publicly traded nonbank launched several decades ago by former GE Capital executive Bill Erbey.
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Nonbanks Continue to Gobble Up More of the Agency Servicing Market

April 19, 2018
John Bancroft
Nonbank servicing of agency MBS has nearly doubled since March 2014…
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Ditech Taps Bear Stearns/GMAC Veteran Thomas Marano as New CEO

April 19, 2018
Paul Muolo
Marano is no stranger to troubled financial service companies. Until 2008, he was a top executive at Bear Stearns...
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Short Takes: Tom Marano, Ditech’s $5 Million Man? / Ripe for a Major Disruption: The Subservicing Market? / Good News: Applications Rise / Rep. Waters Introduces FHA Bill / Ditech Gets a New COO

April 19, 2018
George Brooks and Paul Muolo
There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.
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Strong 1Q Earnings for MGIC, but NIW Declines; Freddie’s IMAGIN Pilot Gets a Mention…

April 18, 2018
Paul Muolo
In 1Q18, MGIC wrote $10.6 billion of new MI policies compared to $12.8 billion in 4Q17 and $9.3 billion in the first quarter of last year.
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Complaints Filed with the CFPB Surged in 1Q18

April 18, 2018
Yemeng Yang
Acting CFPB Director Mick Mulvaney is considering removing the CFPB complaint database from public view…
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Latest Imf News

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