Lone Star to Issue Largest Post-Crisis MBS Backed by Nonprime. Caliber the Lead Originator September 7, 2016 Brandon Ivey Almost 53 percent of the loans in the bond are non-qualified mortgages and many of the rest are higher-priced QMs…Read More
Quicken Sets New Monthly Origination Record, but… September 7, 2016 Paul Muolo JPM, though, relies heavily on correspondent loan purchases to gather loans while Quicken bills itself as a direct-to-consumer/retail lender.Read More
Short Takes: A New Production Milestone for Citadel / Other Nonprime Funders / FBR Feels Quite Bullish About 2016 / A Focus on Mortgage-Centric Depositories / And the NPL Winners Are… September 7, 2016 Paul Muolo FBR & Co. raised its estimate on residential loan production for 2016: $1.90 trillion for 2016...Read More
Title Agents Respond to TRID Tweaks – and the Comments Aren’t Pretty September 6, 2016 Thomas Ressler One agent noted: “Consumers around the country continue to receive inaccurate information at the closing table about their title insurance costs...” Read More
‘Value’ Hedge Fund Kingstown Cuts Stake in Ocwen Financial September 6, 2016 Paul Muolo Kingstown is known as a value-oriented hedge fund, with roughly $1.5 billion of assets under management.Read More
Incenter Mortgage Advisors Completes Trade of $8.87B Ginnie MSR Package September 6, 2016 Paul Muolo IMA’s Piercy noted that deals can get done – as long as the seller is realistic about pricing.Read More
Investors Unite Chief Loses Argument to Inspect Freddie Mac’s Records September 6, 2016 Carisa Chappell IU’s Tim Pagliara owns roughly 346,000 shares of Freddie’s junior preferred stock, according to court documents.Read More
Short Takes: More Origination Records for Lenders? / An MSR Offering From Phoenix / A Broker Comp Problem? / Ellie Share Price Remains Sweet / A New Hire for StoneHill September 6, 2016 Paul Muolo Mortgage software vendor Ellie Mae has a current market capitalization rate of $3.31 billion...Read More
Bank MSR Holdings Fall Below $4 Trillion. Is $3 Trillion Next? September 6, 2016 John Bancroft Only two of the top 10 banks as ranked by “servicing for others” have been in growth mode: PNC Bank and SunTrust.Read More
Going, Going but Not Quite Gone: GSE Buyback Demands September 2, 2016 John Bancroft The GSE buyback total was down 20.6 percent from the first quarter…Read More