By Selling Assets, Walter Investment Posts a Gain After Years of Losses May 10, 2017 Paul Muolo At March 31, Ditech serviced 1.9 million accounts, with an unpaid principal balance of $220.2 billion. During the quarter, the company suffered a net disappearance rate of 13.56 on its MSR portfolio.Read More
CEO of Finance of America’s ‘Fix & Flip’ Unit Departs a Few Months After Company is Bought May 10, 2017 Paul Muolo The fix-and-flip market has been red hot the past few years…Read More
Originations Down Sharply for Impac in 1Q17, but Firm Remains Profitable; An Emphasis on Non-QM May 10, 2017 Brandon Ivey Impac Mortgage is making major run at the non-QM market, advertising its products on cable TV…Read More
Yet More Red Ink for PHH Mortgage; Loan Production Down 34 Percent from 4Q16 May 10, 2017 Paul Muolo Glen Messina is slated to step down as CEO in June. He has served as CEO since January 2012.Read More
Fannie and Freddie Would be Subject to FOIA Requests May 10, 2017 Carisa Chappell The Structured Finance Industry Group has voiced concerns about what information might become publicly available…Read More
Short Takes: Nonprime Lender Angel Oak Hires Correspondent Chief from Freedom Mortgage / A Nice Pay Check if you Can Get Fired / Can the Senate Banking Committee Count? / A QM Exemption? / Former MI, GSE Exec Gets Top Post at HUD May 10, 2017 Paul Muolo and Thomas Ressler PHH's new CEO, Robert Crowl, has a termination package that could be worth $4.54 million…Read More
It’s Time for the Fed to Scale Back its MBS Holdings, Former Fannie Economist Says May 9, 2017 Thomas Ressler The former Fannie Mae economist suggested the Fed should decide to have a measured reduction in its MBS holdings…Read More
As Part of ‘Duty-to-Serve,’ GSEs Release Details on Chattel Pilots May 9, 2017 Carisa Chappell Fannie and Freddie are being urged to bring liquidity to the “chattel” loan market…Read More
At Banks, Mixed Trends in Demand for Purchase Mortgages; Underwriting Loosened Slightly in 1Q17 May 9, 2017 Brandon Ivey For GSE-eligible mortgages, 12.9 percent of the banks surveyed loosened their underwriting standards compared to the previous quarter…Read More
Banking Sector Sees Significant Drop in Mortgage Banking Income in 1Q17 May 9, 2017 John Bancroft Only two depositories – HomeStreet Bank and Citigroup – reported a net loss on mortgage banking. Read More
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