New Penn CEO Jerry Schiano Launches ‘Home Equity’ Lender Targeting the ‘Underserved’ December 20, 2016 Paul Muolo The startup is emphasizing its “user-friendly digital” loan process…Read More
Short Takes: MSR Markups Could be Off the Charts / Good News for Ocwen, Nationstar, PHH, Others… / Habib on Rates / Greystone’s Freddie MF Loan / Selene Unveils Staff Changes December 20, 2016 Paul Muolo Barry Habib of MBS Highway told us the Dow will hit 20,000 and then around mid-January stocks will pull back but “not crash.” Read More
Ginnie Mae President Ted Tozer Set to Leave Jan. 20, but Would Like to Remain as a Consultant (For a While) December 20, 2016 Paul Muolo Since the election, Tozer has met with the Trump Department of Housing and Urban Development “landing team” once, for a 90 minute meeting that included Shawn Krause… Read More
The NYCB-Astoria Financial Merger is Kaput December 20, 2016 Brandon Ivey Consumer advocates were among the groups that opposed NYCB’s acquisition of Astoria…Read More
Interest-Only Originations Falter (For Some) in 3Q16 December 20, 2016 Brandon Ivey After PHH Mortgage, the other top IO producers in 3Q16 were JPMorgan Chase, First Republic Bank, MUFG Union Bank, and Citibank. Read More
AMC Dominates Third-Party Due Diligence Completed on Non-Agency MBS December 20, 2016 Brandon Ivey Fitch said AMC’s market share of due diligence on non-agency MBS was boosted by the acquisition of JCIII & Associates a year ago.Read More
Proposals Not Enough to Revive Non-Agency MBS Market December 19, 2016 Brandon Ivey A little less than $10.0 billion in prime non-agency MBS will be issued in 2016, according to estimates by Inside Nonconforming Markets.Read More
Short Takes: PHH Files Layoff Notice with NYS / Jobs Will be Offered to Certain Employees / Altisource Wanted to Buy LPS / Mortgage Network Names New President December 19, 2016 Paul Muolo and Brandon Ivey PHH had been subservicing the loans for HSBC and the new owner of the MSRs had opted to bring the loans inhouse instead of using PHH…Read More
Securitization Rates Jumped Higher in 3Q16 December 19, 2016 John Bancroft For the first nine months of 2016, the securitization rate was 67.7 percent, Inside MBS & ABS found…Read More
Mutual Fund Company T. Rowe Price Reduces Stake in PHH December 19, 2016 Paul Muolo Over the past year, PHH’s share price has traded as high as $16.80 versus a 52-week low of $8.26.Read More