New HUD Secretary Comes Off as Ill-Prepared for Encounter with House Panel February 11, 2015 George Brooks What did the FHA earn last year? The new HUD secretary didn't know.Read More
CFPB Fines VA Lender NewDay $2 Million for Deceptive Ads, Kickbacks February 11, 2015 Thomas Ressler NewDay's chairman emeritus is former Ginnie Mae president Joe Murin.Read More
Cherry Hill Mortgage REIT Buys Mortgage Company; Will Leverage MSRs February 11, 2015 Paul Muolo Stan Middleman, chairman of CHMI, told IMFnews that having agency approvals will allow the REIT to leverage servicing rights...Read More
Accounting Treatment for Past Due Loans in Ginnie Pools Clarified February 11, 2015 George Brooks According to the MBA, a Big Four accounting firm issued controversial guidance which would have been burdensome for small MBS issuers. Read More
Short Takes: HUD’s Castro Presents the Math / How Much?/ The Market for FHA Streamline Refis / Citadel Rolls Out ‘Alt A’ Product Named After a Dog / Arvest Mortgages Gets a New CEO February 11, 2015 Paul Muolo Citadel Servicing Corp., which has made a name for itself as a new-style subprime lender, has rolled out an Alt A mortgage called “Maggi.”Read More
FHA Working on a ‘Grid’ That Could Protect Lenders From Paying Huge Damages Due to ‘Manufacturing Defects’ February 10, 2015 Paul Muolo A proposal from FHA could see the light of day within six weeks, some have speculated.Read More
Liquidity Requirements in FHFA Proposal a Concern for the Industry February 10, 2015 Paul Muolo Marina Walsh, vice president of industry analysis for MBA, said, “We don’t have enough information to do a thorough analysis of the proposal.” Read More
FHA Lending Took It On the Chin in 2014 February 10, 2015 George Brooks Among all lenders, Quicken Loans led the pack with $6.67 billion of production, a 27 percent drop from the prior year.Read More
MountainView Selling $736 Million of Mortgage Servicing Rights February 10, 2015 Paul Muolo The MountainView package is top heavy with California product. The identity of the seller was not provided.Read More
Agency MBS Issuance Softened in January as Purchase Market Slowed February 6, 2015 John Bancroft Fannie, Freddie and Ginnie produced $85.18 billion of new single-family MBS during the month of January. Read More
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