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Both Sides of Mortgage Banking Posted Significant Profit Gains in 3Q16

December 28, 2016
John Bancroft
JPMorgan Chase was the only firm that saw a decline in production-related revenue during the third quarter…
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FHFA IG Notes Lack of Transparency in CSP Costs

December 28, 2016
Carisa Chappell
Instead, the FHFA only disclosed specific CSP cost data once – in a September 2015 status report…
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Mortgage Investor’s Lawsuit Against JPM Regarding National Servicing Settlement and HAMP Dismissed

December 28, 2016
Brandon Ivey
The claims relating to the servicing settlement were dismissed with prejudice, which means Schneider cannot bring them again.
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2019: A $3 Trillion Year for Originations?

December 28, 2016
Paul Muolo
This year, fundings could reach upwards of $2.00 trillion based on activity through the first nine months of the year.
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Short Takes: Okay, Maybe Trump Can Fire Cordray / Relying on the DOJ’s Office of Legal Counsel / It all Started with PHH / New Turf for WVA Brokerage Firm / Distressed Mortgage Deal

December 28, 2016
Brandon Ivey and Paul Muolo
The Mortgage Center, a West Virginia-based loan brokerage firm managed by Marc Savitt, plans to open new offices in Florida and New Mexico early next year…
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Is it the End of an Era for GSE Loan Buybacks?

December 27, 2016
John Bancroft
Excluding legacy-related buybacks, total GSE seller repurchases would have been down 9.9 percent…
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DB and Credit Suisse Settle Legacy MBS Cases with DOJ; Barclays Faces New Lawsuit

December 27, 2016
Brandon Ivey
Subprime MBS cases continue to haunt Wall Street…
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Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB

December 27, 2016
If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg.
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Share of Loans that Close on Time Increasing

December 27, 2016
Brandon Ivey
Other loan types also generally showed improved closing times.
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Treasury Department Officials: Obama Supports ‘Explicit’ Guaranty on a ‘Defined Class’ of MBS

December 27, 2016
Carisa Chappell and Paul Muolo
Some GSE observers believe an “implicit” guaranty is the same thing as an “explicit” one…
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