Will the Wells Fargo Account Scandal Hit the Megabank’s Mortgage Business? Correspondent Sellers Fear ‘Reputational’ Risk September 29, 2016 Paul Muolo Meanwhile, other lenders said they are hearing reports of correspondent originators slowing down the sale of closed loans to Wells.Read More
Academics Weigh In: DFA Mortgage Rules Benefitted the Wealthy September 28, 2016 Thomas Ressler However, Georgetown University professor Adam Levitin is challenging the findings of his DC-area colleagues.Read More
Redwood CEO: JPMorgan ‘Ahead of Everybody Else’ with Non-Agency MBS Packed with GSE-Eligible Loans September 28, 2016 Brandon Ivey The Redwood CEO said the MBS offer a number of benefits to Chase, including effectively cutting the guaranty fee…Read More
Ginnie Mae Keeping a Close Eye on Servicing Sales, Liquidity September 28, 2016 George Brooks Ginnie Mae wants to make sure that issuers are not selling all their good loans and retaining the potential dregs…Read More
HUD Rolls Out New Rules for Condo Projects; ‘Spot Approvals’ Reinstated September 28, 2016 George Brooks In addition, HUD proposes to vary its owner-occupancy requirement…Read More
Analyst: PHH Corp. Is Just too Cheap; But Will a Buyer Emerge? September 28, 2016 Paul Muolo A decade ago, PHH Mortgage had several suitors, including Countrywide Financial, which once coveted its private-label business…Read More
Short Takes: So Long to GSE Plaintiff Perry Capital / Lost Cause? / GSE Common is Cheap / RBS Settles CU MBS Case / Front-end or Back-end? September 28, 2016 Paul Muolo Closing the fund means that Perry Capital will have to liquidate its holdings – including its positions in Fannie and Freddie...Read More
VA Lending Up Almost 30 Percent; Nonbanks Dominate September 27, 2016 George Brooks Among the top 20 VA lenders, just six depositories made the cut: USAA, Navy Federal, Wells Fargo, Flagstar Bank, The Federal Savings Bank and North American Savings Bank…Read More
Booming MBS Issuance and Uptick in Rates Should Translate into Stellar 3Q Results for Fannie and Freddie. Right? September 27, 2016 Paul Muolo The irony is that lower rates translate into robust originations and guaranty fee income, but can cause problems on the hedging side of the equation.Read More
‘Big’ M&A Announcements Slated for MBA Convention in Boston? September 27, 2016 Paul Muolo Most of the firms looking to buy other shops are nonbanks…Read More