Short Takes: MBA Involved With Nonbank ‘Working Group’ Too / An NPL ‘Brain Drain’ at Lone Star Funds / A $57 Million Problem for the FHLBs of Des Moines and Seattle / FHFA to IG: We Don’t Think So September 30, 2014 Paul Muolo and Charles Wisniowski One active NPL bidder has been Lone Star Funds, but sources tell IMFnews the hedge fund has been having a “brain drain” of sorts when it comes to talent. Read More
Ginnie Mae Tops Among Agencies in Financing Minorities September 29, 2014 John Bancroft Fannie, Freddie and Ginnie All saw most of their business come from borrowers earning less than $150,000 per year.Read More
Wells Fargo MSRs Targeted by Ocwen Starting to Run Off September 29, 2014 Paul Muolo The Wells-Ocwen MSR deal is still waiting for Lawsky's green light. But when that will come is another matter...Read More
Jumbo MBS with Originations Sourced by Five Oaks in the Works September 29, 2014 Brandon Ivey Five Oaks plans to buy some of the subordinate tranches of the new jumbo MBS.Read More
Mortgage Unit of Home Builder Ready to Enter Non-QM Market September 29, 2014 Paul Muolo Pulte Mortgage will install a “modest price” adjustment on its non-QM loans.Read More
An MBS Program on Fire: Ginnie Mae September 29, 2014 George Brooks The Ginnie II program now accounts for up about 98 percent of new agency issuance.Read More
Short Takes: CFPB Slams Flagstar Over Mods / No, a New Mortgage Trade Group is NOT Forming / BofA Transferring MSRs to Shellpoint / Merger of Two FHLBs an Aberration? / NJ Senator Intros Share-Appreciation Mortgage Bill September 29, 2014 Brandon Ivey, Paul Muolo, and Charles Wisniowski Sources close to the matter noted that Ocwen is involved, but it’s not a trade group.Read More
Treasury Sees a ‘Benchmark’ Non-Agency MBS as Potential Spur for Market September 26, 2014 Brandon Ivey The Treasury Department will have a key role in developing a $1 billion "test" non-agency security.Read More
The Federal Reserve Continues to be the Hog at the MBS Trough September 26, 2014 John Bancroft At the top of the heap was the Federal Reserve, which boosted its agency MBS portfolio by 3.8 percent during the second quarter.Read More
Principal Reduction Loan Modifications Fall Out of Favor with Banks September 26, 2014 Brandon Ivey The megabanks also decreased their use of interest rate reductions on loan modifications...Read More