Short Takes: $750 Million of NPLs to Bid This Week / Two Harbors in the Hunt for Re-performing / Investors Will Continue to Dump Non-Agency MBS / NAFCU Upset with FHFA Edict on QM / Former Ally Executive Gets Hired by MBS Group May 8, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler A $750 million offering of nonperforming mortgages is expected to go down this week. Meanwhile, NAFCU is mad at FHFA over the QM rule.Read More
Demand for Prime Mortgages Continues to Strengthen May 8, 2013 Thomas Ressler Roughly 75 percent of bank loan officers cited put-back risk by Fannie Mae and Freddie Mac as an important factor limiting their current ability or willingness to approve home-purchase loans.Read More
Fannie, KPMG to Pay $153 Million to Settle Decade-Long Shareholder Fraud Suit May 8, 2013 Charles Wisniowski Two Ohio pension funds that owned stock in Fannie Mae sued the GSE in 2004 related to a $6.3 billion overstatement of earnings. Read More
GSEs Consider Expanding Scope of Common Securitization Platform May 7, 2013 John Bancroft The GSE "common securitization platform" is under construction and already potential add-ons are being discussed, including a loan acquisition module. Read More
FHFA Seeks Comment to Refine Its Planned National Survey of Mortgage Borrowers May 7, 2013 Charles Wisniowski The Federal Housing Finance Agency plans to survey residential borrowers about how they were treated by lenders.Read More
Servicer Advance Securitization is Growing but Concerns Persist May 7, 2013 Brandon Ivey The market for securities backed by servicer advances is red hot, but S&P says investors face risks. Read More
Short Takes: Industry Wants Lower GSE Loan Limits / FirstREX Will Take Equity in a Home / Cramer Likes Ellie / United Guaranty on a Roll / About that FHA Premium Promise May 7, 2013 George Brooks and Paul Muolo The mortgage industry wants lower Fannie Mae/Freddie Mac/FHA loan limits. But will it happen?Read More
New York AG to File Lawsuits Against BofA, Wells for Servicing Issues May 6, 2013 Brandon Ivey Law enforcement officials say some of the nation's megabanks are violating terms of the historic national servicing settlement. Read More
MBA Pushes for Single GSE MBS With New G-Fee Structure May 6, 2013 John Bancroft The game is on: MBA wants a single GSE security and will lobby aggressively on the issue. Read More
Nationstar Launches $1.375 Billion Debt Offer, Mentions Suspension of Foreclosures May 6, 2013 Paul Muolo Business must be good for Nationstar Mortgage. The fast growing servicer is trying to pull off a huge debt swap. Read More