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Fannie Mae Reports Strong Earnings for 3Q17, but $1B in Hurricane-Related Charges; Large Exposure to ‘Maria’

November 2, 2017
Carisa Chappell and Paul Muolo
Fannie Mae CEO Timothy Mayopoulos added: “Damage from the storms will be with us for a long time.”
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Minor Retreat for Top Tier Mortgage Servicers in 3Q17, Nonbanks Continue March Forward

November 2, 2017
John Bancroft
The only top-five servicer to report an increase in volume was Nationstar Mortgage...
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Fannie Mae Reports Strong Earnings for 3Q17; Hurricanes Hurt but RBS Settlement Helped

November 2, 2017
Carisa Chappell and Paul Muolo
Through the first nine months of the year, Fannie has posted impressive net earnings of $9.02 billion.
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Ocwen Takes $6.1 Million Loss in Third Quarter but Results Could Have Been Worse

November 2, 2017
Brandon Ivey
The loss would have been worse if not for a one-time tax benefit of $23.2 million…
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Nationstar Reports a $7 Million Profit for 3Q17. Smaller MSR Markdowns

November 2, 2017
Paul Muolo
Nationstar originated $4.25 billion of new home mortgages in 3Q17…
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Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch & Dent’ Loans

November 2, 2017
Paul Muolo
According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines.
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Short Takes: GSE Reform? What’s the Rush? / Calabria, an FHFA Director Candidate? / Capping the Mortgage Interest Deduction at $500,000 / TCF to Buy Nonbank Mortgage Firm

November 2, 2017
Carisa Chappell, Brandon Ivey, and Paul Muolo
Mark Calabria is not exactly a fan of the GSEs...
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Nationstar Mortgage May be in Play, But It’s Hard to Predict Who Possible Suitors Could Be

November 2, 2017
The possible sale of Nationstar Mortgage could have ramifications for a handful of other publicly traded nonbank mortgage firms, including Ocwen Financial, New Residential Investment Corp., and Walter Investment Management Corp. For now, Nationstar and its largest investor – Fortress Investment Corp. – are saying little about the matter, but it’s been widely reported the past week that SoftBank (soon to own Fortress) has hired investment bankers to explore a sale of ...
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As Year Draws to a Close, a Rush to Get Servicing Packages Sold

November 1, 2017
Paul Muolo
There continues to be some nervousness about VA receivables because of streamlined refinancings, although regulators are trying to curb abuses in the program.
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Redwood Set to Issue its Second ‘Expanded Prime’ MBS, Suggesting Strong Origination-Volume and Investor Demand

November 1, 2017
Brandon Ivey
The total unpaid principal balance for mortgages backing the deal has yet to be disclosed.
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