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The Final Tally: Production, Servicing Profits Fade in 1Q16

June 15, 2016
John Bancroft
The 12 firms reported a combined $700.6 million in earnings from their servicing operations, a 1.2 percent decline from the fourth quarter…
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A Trend Continues: Depositories Trim Non-Mortgage ABS Holdings

June 15, 2016
John Bancroft
It was the ninth consecutive quarterly decline in bank ABS investment since the end of 2013…
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As Rates Drop, Mortgage Lenders Increase Hiring – Even the Megabanks are Looking for Workers

June 15, 2016
Paul Muolo
One trend that appears to be gaining momentum is the increased use of call centers and loan officers working at such shops who are compensated at lower commission rates…
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Seneca Outsources $50B in Servicing to Nationstar; NSM Takes Over Platform Too

June 15, 2016
Paul Muolo
A few months back, Nationstar was awarded a $55 billion subservicing contract from a depository…
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Short Takes: Mortgage Trade Group v. Mortgage Trade Group? / MBA’s Stevens Reacts / Quicken Selling Loans to Berkshire’s Mortgage Unit / Why Moody’s Can't Rate JPM’s LO System / Fannie Hires New Chief Audit Executive

June 15, 2016
Brandon Ivey and Paul Muolo
MBA President Dave Stevens told IMFnews: “We respect the work of Glen [Corso, CMLA director] and his organization greatly...."
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CFPB TRID Exams Coming This Month

June 14, 2016
Thomas Ressler
Two industry sources confirmed this week that the Consumer Financial Protection Bureau will, indeed, begin examining for compliance with the integrated disclosure rule known as TRID this month.
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S&P Places Negative Outlook on Walter, Questions Nonbank’s Plans to Reduce Leverage

June 14, 2016
Brandon Ivey
S&P Global Ratings warned on Monday that it could downgrade the issuer credit rating of Walter Investment Management later this year due to ongoing problems at the nonbank.
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Lenders Say No More to Loosening Credit Standards

June 14, 2016
Carisa Chappell
Lenders reported a moderate net easing of credit standards across all loan types over the past three months, according to Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey released this week.
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Mortgage Sector Sees Spike in M&A Activity. Will it Last?

June 14, 2016
Paul Muolo
Merger-and-acquisition activity in the mortgage sector has been relatively mild so far this year, but suddenly the table has turned with a handful of deals announced over the past two weeks and some lenders publicly stating their intentions as buyers. And one thing seems certain: It appears that all of the acquisitions will be accomplished through “asset” purchases as opposed to the acquisition of stock, be it private shares or otherwise. Guild Mortgage, San Diego, inked…
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FHFA’s Attempt to Consolidate Shareholder Cases Denied

June 14, 2016
Carisa Chappell
A key judicial review panel recently said the Federal Housing Finance Agency’s March bid to consolidate all the Fannie Mae and Freddie Mac shareholder lawsuits and transfer them to one court was “inappropriate” and rejected the government’s request.
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