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Inside Mortgage Trends
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Mortgage Banking Less Profitable for Banks in 2017, Defections Still Rare

February 2, 2018
Despite declining volume and the rollercoaster of hedge accounting, most banks turned in positive results on their mortgage-banking activities in 2017, according to a new Inside Mortgage Trends analysis of fourth-quarter earnings reports from publicly-held companies.
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Retail Loans Less-Risky in Agency Market

February 2, 2018
Retail mortgage-origination platforms tend to generate lower-risk mortgages than other channels, according to a new Inside Mortgage Trends analysis of home loans delivered into Fannie Mae, Freddie Mac and Ginnie Mae mortgage-backed securities.
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Nonbanks Reach Another MSR Milestone: A 43 Percent Market Share Among the Top 50

February 1, 2018
John Bancroft
The $3.42 trillion of servicing held by nonbanks was up 20.7 percent from December 2016…
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PHH CEO Robert Crowl Gets a New Contract, Could Earn $2 Million-Plus This Year

January 31, 2018
Paul Muolo
Over the past two years, PHH has sold off large chunks of its MSR portfolio, while remaining as the subservicer of record…
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Appeals Court Rules in PHH’s Favor in RESPA Dispute with the CFPB; However, CFPB's Constitutionality is Upheld

January 31, 2018
Thomas Ressler
The ruling is a huge win for the mortgage industry, said former CFPB attorney Benjamin Olson, now a partner at the Buckley Sandler law firm…
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Short Takes: Leaked DOJ Memo Directs Prosecutors to Dismiss Meritless FCA Cases / FCA by the Numbers / Joshua Rosner Weighs in on Corker Bill / Flushing GSE Money Down the Toilet? / Ally’s Mortgage Profit

January 31, 2018
George Brooks and Paul Muolo
DOJ notes that “over the last several years” there has been a record increase in qui tam (whistleblower) actions filed under the False Claims Act...
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More Lenders Contributing to Prime Jumbo MBS; Flagstar Becomes a Player

January 30, 2018
Brandon Ivey
Flagstar contributed $1.02 billion to jumbo MBS last year, or 9.4 percent of the total market…
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Wells Fargo Names Michael DeVito Permanent Head of Home Lending

January 30, 2018
Paul Muolo
DeVito will report to Mary Mack, senior executive vice president of community banking and consumer lending.
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Industry Starts to Worry as Yield on the 10-Year Hits Yearly High; Insolvencies? PHH Falls to 52-Week Low

January 30, 2018
Paul Muolo
The only firms that are feeling overly bullish are nonprime shops such as Angel Oak and Citadel Servicing…
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Investors in Walter Get a Sweet Deal: a 9 Percent Note Rate

January 30, 2018
Paul Muolo
According to a new SEC filing, the unsecured notes previously matured in 2021 and carried a yield of 7.88 percent.
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