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Inside Mortgage Trends
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Residential Production at BofA Rises 16 Percent; MSR Balances Continue to Fall

July 18, 2017
Paul Muolo
Compared to the same period a year ago, servicing balances have fallen by 19.5 percent.
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Walter’s Warehouse Lenders Show Patience – but for How Long?

July 18, 2017
Paul Muolo
In late May, Walter disclosed in an SEC filing that some of its previously issued financial statements could not be relied upon because of what it called an “accounting error.”
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Short Takes: EverBank CEO Now the Head of LenderLive / Strong Volumes at Skyline / Refi Shops Hurting / Walter Files Layoff Notice on Irving Office / loanDepot Snatches Top LO from Guaranteed Rate

July 18, 2017
Paul Muolo
Walter Investment filed a WARN notice with the Texas Workforce Commission, saying it will close its Irving, TX, office and cut 437 workers...
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Bank Mortgage Repurchases Trend Lower

July 18, 2017
John Bancroft
Bank of America once again reported the biggest volume of residential loan repurchases: $421 million…
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Walter Now in Danger of Getting Kicked off the NYSE

July 17, 2017
Paul Muolo
Walter, the parent of Ditech Financial, said it expects to “acknowledge receipt” of the compliance violation and “notify the NYSE of its intention to seek to cure the deficiency…”
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Retail Channel Losing Steam in 2Q17 Agency Business; Brokers Rising

July 17, 2017
John Bancroft
Agency mortgages produced by mortgage brokers actually rose 4.4 percent in the second quarter, even as the overall market was falling 6.1 percent.
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MBS Trading Volume Increased in June, but…

July 17, 2017
Paul Muolo
It hasn’t been pretty the last couple of weeks for MBS values…
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Short Takes: LOs, You’ve Been Put on Notice / Citigroup’s MSR Holdings: Down 68 Percent / GOS Outlook / Two Harbors Prices Preferred Shares / Castle & Cooke Hires Compliance Manager

July 17, 2017
Paul Muolo
Mortgage gain-on-sale margins likely will be flat...
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Other MBS Trustees May Follow Wells Fargo’s Lead on Withholding Funds

July 14, 2017
Brandon Ivey
Analysts at Bank of America Merrill Lynch said the action by Wells was “the most talked about topic” among market participants recently.
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Retail Losing Steam in 2017 Agency Mortgage Business, Brokers Rising

July 14, 2017
With refinance activity tapering off, the retail production channel lost some of its edge during the second quarter of 2017, according to a new Inside Mortgage Trends analysis of agency mortgage-backed securities. Retail production accounted for 50.6 percent of the $290.63 billion of single-family mortgages securitized by Fannie Mae, Freddie Mac and Ginnie Mae in the second quarter. Including modified loans and those with no channel identification ... [Includes one data chart]
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