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As Rates Rise, Residential Servicing Rights Increase in Value

May 18, 2015
Paul Muolo
Upwards of $500 billion of mortgage servicing rights could change hands this year. But maybe that estimate is too low...
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Short Takes: How High Can Ellie Mae’s Stock Go? / And the Flipping Continues / Lending to Flippers, a Profitable Business / GOP Says No to HUD Again / A Virginia M&A Deal

May 18, 2015
George Brooks and Paul Muolo
Several hard money lenders are involved in financing flippers, charging interest rates that are several percentage points above the going Fannie Mae/Freddie Mac rate.
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WinWater Plans New Jumbo MBS, but Rating Services Cite Concerns About Issuer

May 15, 2015
Brandon Ivey
The top contributor to the new WinWater deal is PrimeLending with a 15.6 percent share.
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Nationstar President & COO Harold Lewis Departs Nonbank for Retirement; No Details Available

May 15, 2015
Paul Muolo
Jay Bray, Nationstar’s current CEO, will assume the role of president effective June 1.
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REIT MBS Holdings on the Wane. A Temporary Thing or a Trend?

May 15, 2015
John Bancroft
Annaly remained the biggest REIT investor in MBS, although its holdings were down 14.9 percent from the fourth quarter.
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What We’re Hearing: What’s Next for Nationstar, Walter, Ocwen? / A Broken High-Touch Model? / Oh No: Ocwen Takes the Corporate Jet Away! / Texas Bank Warehouses Impac / FHFA Does Not Want the FHLBs to be an Issuer Through the CSP / More TRID Anxiety

May 15, 2015
Paul Muolo
More trouble for Ocwen: the corporate jet has been yanked!
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Ellington’s Target Date for Non-QM Acquisitions: Early Summer

May 15, 2015
Brandon Ivey
Ellington believes that one of the biggest opportunities for the company will be products geared toward self-employed borrowers.
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Nomura Found Liable, MBS Suit v. Goldman Revived, Put-Back Claims Argued, CMBS Payments Protected

May 15, 2015
The Federal Housing Finance Agency is trying to put a dollar amount on damages it believes Nomura Holdings and RBS Securities should pay after a federal judge found the companies liable in connection with Fannie Mae’s and Freddie Mac’s pre-crisis investments in non-agency MBS. Judge Denise Cote of the U.S. District Court for the Southern District of New York said the complex case boiled down to whether the defendants accurately described in the offering documents the mortgages that underlie the securities sold to the government-sponsored enterprises. It was...
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Government Mortgage Insurance Programs Make a Run on Private MIs; The FHA Premium Cut a Factor?

May 14, 2015
John Bancroft
Although the FHA has been losing ground for several years to the private MIs, the program saw a surge in refis in March...
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FHFA Chief Still Hasn’t Made Up His Mind on Captives and FHLB Membership

May 14, 2015
Paul Muolo
To date, the FHFA has received 1,300 comment letters on the proposed ban on captive insurance firms.
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Latest Imf News

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