Short Takes: Time to Bottom Fish in MSRs? / PennyMac and BofA Increase Deal Ceiling / Trade Groups Complain to the CFPB / More Ocwen Legal Headaches September 8, 2016 Paul Muolo and Thomas Ressler More legal headaches for Ocwen? Looks that way...Read More
CFPB Examinations of Nonbank Mortgage Lenders Spike 220 Percent September 7, 2016 Thomas Ressler For depositories, the data generally show more overall scrutiny from the CFPB as well…Read More
Lone Star to Issue Largest Post-Crisis MBS Backed by Nonprime. Caliber the Lead Originator September 7, 2016 Brandon Ivey Almost 53 percent of the loans in the bond are non-qualified mortgages and many of the rest are higher-priced QMs…Read More
Quicken Sets New Monthly Origination Record, but… September 7, 2016 Paul Muolo JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.Read More
Short Takes: A New Production Milestone for Citadel / Other Nonprime Funders / FBR Feels Quite Bullish About 2016 / A Focus on Mortgage-Centric Depositories / And the NPL Winners Are… September 7, 2016 Paul Muolo FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...Read More
Title Agents Respond to TRID Tweaks – and the Comments Aren’t Pretty September 6, 2016 Thomas Ressler One agent noted: “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs...” Read More
‘Value’ Hedge Fund Kingstown Cuts Stake in Ocwen Financial September 6, 2016 Paul Muolo Kingstown is known as a value-oriented hedge fund, with roughly $1.5 billion of assets under management.Read More
Incenter Mortgage Advisors Completes Trade of $8.87B Ginnie MSR Package September 6, 2016 Paul Muolo IMA’s Piercy noted that deals can get done – as long as the seller is realistic about pricing.Read More
Investors Unite Chief Loses Argument to Inspect Freddie Mac’s Records September 6, 2016 Carisa Chappell IU’s Tim Pagliara owns roughly 346,000 shares of Freddie’s junior preferred stock, according to court documents.Read More
Short Takes: More Origination Records for Lenders? / An MSR Offering From Phoenix / A Broker Comp Problem? / Ellie Share Price Remains Sweet / A New Hire for StoneHill September 6, 2016 Paul Muolo Mortgage software vendor Ellie Mae has a current market capitalization rate of $3.31 billion...Read More