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Jumbo Issuer Redwood Sells $288 Million of Debt

March 11, 2013
Paul Muolo
Redwood Trust taps the debt market for cash to support its jumbo MBS business.
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Short Takes: More Layoffs in the Foreclosure Review Space / FHFA IG Says Higher Rates Could Hurt the GSEs / Genworth Shares Spike / Waiting for Godot and Fannie’s 4Q Earnings

March 11, 2013
Paul Muolo
More foreclosure review workers are set to lose their jobs. This time the layoffs are happening at Aurora Bank of Denver.
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HousingPulse: FHA Share of Purchase-Money Continues to Slide

March 8, 2013
Brandon Ivey
FHA funding accounted for 25 percent of home-purchase financing in January, based on the three-month moving average, according to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. February numbers will be released shortly.
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Investor Sues to Stop Nationstar Auctions of Nonperforming Mortgages

March 8, 2013
John Bancroft
If a plaintiff gets its way, Nationstar will be blocked from auctioning off delinquent loans from MBS pools.
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Nationstar Wins TBW Bid? / Agency MBS Takes a Breather in February / Mortgage Brokers Rock / Ed DeMarco, the Most Powerful Man in Mortgage Finance Today? / Broker Sheds Tears Over New Subprime Firm

March 8, 2013
Nationstar appears to be the winning bidder on the Taylor Bean & Whitaker MSR pacakge. Meanwhile: Ed DeMarco, the most powerful man in mortgage finance today?
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RMS Gets Warehouse Line for HECM Lending

March 8, 2013
Reverse Mortgage Solutions, a HECM lender bought by Walter Investment Management Corp. last fall, has received a $100 million warehouse line of credit from Royal Bank of Scotland, according to a new filing with the Securities and Exchange Commission. The line is legally structured as a master repurchase agreement. However, it is also considered “uncommitted” and matures in February of 2014. RMS will use the money to fund new originations of HUD-backed home equity conversion mortgages. Several of the nation’s largest banks have exited the HECM space the past two years, including Wells Fargo and Bank of America. A handful of nonbanks have moved ...
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How Much Gas is Left in the Refi Tank? Wells Tops Purchase Money List

March 7, 2013
John Bancroft
The purchase mortgage business has been in the tank since the housing crash. Although home buying is on the upswing, will it be enough to replace the refi boom?
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NAFCU Worries About CFPB Definition of Finance Charge, Usefulness of ‘APR’

March 7, 2013
Thomas Ressler
The National Association of Federal Credit Unions is urging the Consumer Financial Protection Bureau to take another look at the usefulness of APR disclosures, among other things.
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Three M&A Deals in the Works at Mortgage Banking Solutions

March 7, 2013
Paul Muolo
Merger and acquisition activity is perking up in the mortgage market with a deal set for unveiling possibly by Friday afternoon or early next week.
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Walter’s Reverse Unit Gets $100 Million Warehouse Line From RBS

March 7, 2013
Paul Muolo
Reverse Mortgage Solutions has tapped RBS for a large warehouse line of credit that matures next year.
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