Redwood Expects to Turn Small Profit on Lower Coupon Jumbos August 8, 2013 Brandon Ivey Redwood Trust said it expects to hit its goal of acquiring $8 billion in non-agency jumbos in 2013, but it wont be easy" company officials said.Read More
Short Takes: So, Why Does the White House Want to Kill the GSEs? / Politicians Continue to Bash Fannie and Freddie / BofA Cuts Servicing Jobs in Pittsburgh / Wholesale Lending Makes a Comeback / Impac Comes on Strong August 7, 2013 Paul Muolo Who says that wholesale lending through loan brokers is dead? Carrington Mortgage and other firms are expanding in the sector.Read More
Mortgage Insurers Turn in Best Quarter in Five Years, Take Share from FHA/VA August 7, 2013 John Bancroft For the first time in six years, the four surviving private MIs reported a combined profit on their domestic MI business during 2Q13. Read More
Freddie Earns $5 Billion, G-Fee Charge at 51 Basis Points August 7, 2013 Paul Muolo In its earnings release, Freddie said it will not capture its deferred tax asset (DTA) valuation allowance which now stands at $28.6 billion. Read More
FHFA IG Raises Questions About Continued Success of HARP August 7, 2013 Charles Wisniowski It is difficult to project how many HARP-eligible loans will ultimately be refinanced, the FHFA IG writes in a new report. Read More
Freddie Mac Has Worst MBS Issuance Month of the Year August 6, 2013 Paul Muolo Though the end of July, Freddie has issued roughly $302 billion of single-family MBS compared to $500 billion for Fannie. Read More
Obama Hints at Corker-Warner Support, Pushes for HARP 3.0 August 6, 2013 Paul Muolo The White House believes that the current housing finance system, where the government guarantees more than 80 percent of all mortgages through Fannie Mae, Freddie Mac and FHA, is unsustainable.Read More
OIG: FHFA Must Tighten Grip on Deficient FHLBank Unsecured Lending Practices August 6, 2013 Charles Wisniowski Between 2008 and early 2011, unsecured credit extensions by FHLBs to European institutions swelled from $66 billion to $123 billion.Read More
Originations Booming at Nationstar, MSRs Will Top $435 Billion August 6, 2013 Brandon Ivey Portfolio recapture, wholesale, and builder channels accounted for almost 79 percent of its fundings in 2Q. Read More
Mortgage Brokers Continue to Hire, But Barely August 5, 2013 Paul Muolo Mortgage brokerage firms added new workers in June but at a very slow pace, a sign that the origination market is slowing. Read More