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. Read More
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…Read More
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…Read More
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…Read More
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 Paul Muolo and George Brooks 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...Read More
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…Read More
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. Read More
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…Read More
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.Read More
PIMCO in the Throes of Restructuring FGMC, Installs New President January 29, 2018 Paul Muolo One advisor familiar with the situation called the hiring of Samples and a recent batch of layoffs at FGMC, “a clean sweep of the corporate suite.”Read More
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