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The WMIH-Nationstar Merger, a Feat of Financial Engineering

February 16, 2018
Paul Muolo
Once consummated, the merger will allow Nationstar to shelter its earnings for years to come…
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As Appraiser Shortage Worsens, Standards are Reduced

February 16, 2018
Brandon Ivey
Under the new AQB standards, only an associate’s degree in a field related to the appraisal industry will be required…
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What We’re Hearing: Death, Taxes and the GSEs / Sweet Tax Cows / Not a Peep Out of Pershing Square and Fairholme / The Wrath of Jeb / MSR Market Heats Up / A Huge Profit for Annaly / Citizens Bank Gets a New Mortgage Chief

February 16, 2018
Paul Muolo
Suffice to say, Fannie and Freddie are two cash cows that only a crazy person would eliminate, unless that crazy person doesn’t like money…
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Freddie's 4Q Results Get Smacked Around Because of Tax Changes, Will Need a $312 Million Check from Treasury

February 15, 2018
Paul Muolo
All totaled, the new tax law will result in Treasury – which owns the senior preferred stock of the GSEs – forking over $4.01 billion to aid Fannie and Freddie...
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Mortgage Insurers Lost Market Share Late in the Year, but Industry Gained Overall in 2017

February 15, 2018
John Bancroft
After surging to an unusually high level of 26.6 percent in 2016, market share for the VA home-loan guaranty program eased to 24.1 percent last year…
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Freddie, Like Fannie, Sees 4Q Results Get Smacked Around Because of Tax Changes, Will Need a $312 Million Check from Treasury

February 15, 2018
Paul Muolo
Prior to release of 4Q17 results, the GSEs had an “account balance” of $103.0 billion with Uncle Sam: $291.4 billion of dividends paid to Treasury versus $188.4 billion of assistance received.
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CFPB Continues with its ‘Public Input Series,’ Wants Feedback on Supervisory Processes

February 15, 2018
Thomas Ressler
This is the fourth in a series of RFIs announced as part of Acting Director Mick Mulvaney’s “call for evidence.”
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Behind the White House’s Request to Shore Up FHA Tech: 73 System Outages in 2017

February 15, 2018
John Bancroft
The budget proposal calls for exempting “small lenders” – companies that generate about 20 percent of FHA business – from the IT fee.
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At $600K a Year, Fannie Mae CEO Tim Mayopoulos is Underpaid. GSE Worries About CEO ‘Succession’ Planning

February 15, 2018
Paul Muolo
No one has suggested publicly that Mayopoulos is unhappy with his pay, but in a new 10-K filing, Fannie worries that...
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Shell Company Stuffed with NOLs Agrees to Buy Nation’s Third Largest Servicer in a Feat of Financial Engineering

February 15, 2018
WMIH Corp., a shell company whose chief asset is tax losses, this week agreed to purchase Nationstar Mortgage for roughly $1.68 billion in cash and stock.
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