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A Quiet Surprise: FHFA Sets ‘Minimum Base’ G-Fee for Fannie Mae and Freddie Mac

August 4, 2016
John Bancroft
FHFA officials said the directive is not being made available to the public.
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Fannie Mae Posts $2.9 Billion Profit for Second Quarter; Strong Performance May Spark New Calls for G-Fee Cut

August 4, 2016
Paul Muolo
Overall, Fannie Mae’s bottom line was bolstered by a strong quarter for originations: $510 billion in the second quarter compared to $380 billion in the first, according to Inside Mortgage Finance.
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Short Takes: PennyMac Financial Strikes Deal on Distressed MSRs / A Loss for the PennyMac REIT / Two Harbor’s Last Jumbo MBS / JPMorgan Chase Readies New Deal / Apps Drop / A New Hire for Silver Hill

August 4, 2016
Brandon Ivey, Macie Jones, and Paul Muolo
Looks like JPMorgan Chase is getting ready to issue yet another jumbo MBS...
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CFPB Codifies New Foreclosure Prevention Rules. The ‘Only Once’ Rule is Out the Door

August 4, 2016
Paul Muolo
Under the agency’s current rules, residential servicers must tell a mortgagor about their foreclosure prevention options just once over the life of a loan.
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Agency MBS Production Continued to Gain Momentum in July

August 4, 2016
John Bancroft
The three agencies securitized $43.09 billion of purchase mortgages last month, a 15.3 percent increase from June.
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Servicing Market Skews Further Toward Nonbanks, Midsized Shops in 2Q16; Runoff an Issue for Many

August 3, 2016
John Bancroft
Banks, thrifts and credit unions still accounted for 66.0 percent of the $7.206 trillion in single-family mortgages serviced by the top 50 companies, Inside Mortgage Finance found.
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Why Aren’t There More Subprime Originations? A Lack of Incentives for LOs, Perhaps?

August 3, 2016
Brandon Ivey
Caliber has loosened requirements for its nonprime production, making changes to guidelines every six weeks or so…
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CFPB Has its Say on Foreclosure Prevention, Publishes ‘Guardrails’ for Servicers

August 3, 2016
Thomas Ressler
The principles released Tuesday are separate from and independent of the finalized amendments to the CFPB’s 2013 mortgage servicing rules, which are expected in several weeks.
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Nationstar Whipsawed by MSR Marks, Loses $92 Million in 2Q; Revenue Rises Along with Originations

August 3, 2016
Paul Muolo
The company has been diversifying heavily into subservicing contracts and over the past year has struck outsourcing deals with USAA and Seneca Mortgage Servicing.
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Source of Funds: Top Reason for FHA Unacceptable Findings

August 3, 2016
George Brooks
Specifically, auditors either found undocumented large deposits or deposits that are from unacceptable sources.
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