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Walter’s Stock in a Freefall (Again) in Wake of ‘Restructuring’ Plan. Firm Projects Loss for 2017

August 2, 2017
Paul Muolo
The company has been trying to restructure its operations under CEO Anthony Renzi, who joined the firm last year.
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Radian Posts Strong MI Volume in 2Q, but Takes Huge Hit on Clayton and its ‘Services’ Unit

August 1, 2017
Paul Muolo
In past SEC filings Radian hinted that a write-down tied to its 2014 $305 million purchase of Clayton might be in order, but the company never pulled the trigger.
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After Years of Shedding Servicing Rights, BofA Getting Close to a Normalized Portfolio

August 1, 2017
Brandon Ivey
A telling sign: Bank of America employed 6,603 servicing employees as of the end of 2016, down 78.0 percent compared to the end of 2013.
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A 25 Percent Earnings Decline for Freddie Mac; ‘Account Surplus’ with Uncle Sam will Swell to Almost $39 Billion

August 1, 2017
Paul Muolo
Freddie expects to make a $2 billion dividend payment to Treasury – the holder of its senior preferred stock – sometime in September.
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JD Power: Consumers None Too Happy with Mortgage Servicers These Days

August 1, 2017
Sherry Muolo
The noted research firm found that mortgage customers feel as if their servicers are more focused on profit than giving top-notch customer support...
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A Blowout Earnings Quarter for New Residential; REIT Continues to Buy Servicing Rights

July 31, 2017
Paul Muolo
New Residential has purchased several servicing portfolios over the past year, acquiring rights from CitiMortgage, Walter/Ditech and United Shore, among others.
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Servicing Transfers Jump 22 Percent in 2Q17 as Major Players Unload Receivables

July 31, 2017
John Bancroft
Movement Mortgage was the largest seller of MSRs through co-issuance deals…
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Short Takes: Ginnie Loses Another One / CEO Background / From Mortgage Owner to ‘Life Coach’ / Kudos to Freedom and Fairway / A New Regional Hire for Stearns

July 31, 2017
Paul Muolo
Among the top 20 lenders in 2Q17, Fairway Independent Mortgage had the highest growth rate at 64.2 percent.
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Flagstar Enters Jumbo MBS Market, Issuance Starting to Look Attractive for Some Big Banks

July 28, 2017
Flagstar Bank priced its first post-crisis jumbo MBS this week and other big banks could start issuing deals this year, according to industry analysts. Since 2010, the main issuers in the fledgling jumbo MBS market have been nonbanks, with banks content to hold jumbos in portfolio. In recent years, the only bank to issue prime non-agency MBS has been JPMorgan Chase, which has packaged jumbos with some mortgages eligible for sale to the government-sponsored enterprises in its deals. The $443.8 million Flagstar Mortgage Trust 2017-1 follows...
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Originations Increase Sharply in Second Quarter but Volume in 2017 Still Lags the Pace Set Last Year

July 28, 2017
John Bancroft
Wells Fargo remained the top producer of first-lien mortgages with a hefty 27.1 percent increase from the first quarter, gaining ground on all of its nearest competitors.
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