PHH Counsel Theodore Olson Lays Out Steps to Make the CFPB ‘Constitutional’ March 22, 2017 Thomas Ressler For the CFPB to pass the constitutionality test, its director needs to be removable by the president of the United States...Read More
Bank Holdings of First Liens Increased in 4Q16 – Ever So Slightly March 22, 2017 Brandon Ivey It appears that depositories are growing their portfolios by adding jumbo mortgages along with loans eligible for sale to Fannie Mae and Freddie Mac…Read More
Still Rising: Retail Channel Accounts for 81.6 Percent of Jumbo Originations March 21, 2017 Brandon Ivey Roughly $72.09 billion of jumbo mortgages were originated in the fourth quarter, down 3.4 percent on a sequential basis.Read More
Subservicing Sector Starting to Look Crowded As More Firms Choose ‘Capital Light’ Strategy March 21, 2017 Paul Muolo The nation’s three largest residential subservicing firms are: Cenlar, Dovenmuehle and Loan Care. All are nonbanks.Read More
MBA: Net Origination Profit Plunged 68 Percent in 4Q16 March 21, 2017 Paul Muolo MBA noted that including all business lines, 73 percent of the mortgage companies posted pre-tax profits for the fourth quarter, down from 94 percent in 3Q16…Read More
USDA Securitization Rose in 2016; Chase Led the Sector, but… March 21, 2017 George Brooks Although JPMorgan/Chase was the market leader, it is now mostly out of the sector…Read More
IMF Poll: Lenders Will Liberalize Underwriting Standards – but Not by Much March 21, 2017 Paul Muolo Some 14 percent of respondents said they might begin making non-qualified mortgages over the coming months.Read More
Short Takes: Coming Soon: Falling Interest Rates? / Walter Gets Smacked Down Again / Embrace Sends its Top LOs to Boca / CoreLogic’s $5 Million Man (Rounded) / A New Hire for Silver Hill March 21, 2017 Paul Muolo All totaled, the new CoreLogic chief could earn almost $5 million...Read More
Prestwick Selling $335 Million of Fannie Mae Servicing Rights March 20, 2017 Paul Muolo A small portion of the loans are characterized as non-owner occupied…Read More
Short Takes: Walter Retains M&A Advisor Houlihan Lokey / A Penny Stock / $902 Million of Losses / Rebranding for MountainView / Ocwen Shuffles its Board March 20, 2017 Paul Muolo Over the past three years, Walter Investment Management has lost a whopping $902 million...Read More
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