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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…
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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.”
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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…
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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…
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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.
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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.
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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.
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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…
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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…
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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.
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Latest Imf News

  • Servicing Portfolios Decline at Rocket, Chase in 3Q

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More Imf News

Featured Data

  • Top Ginnie Servicers Increase Portfolios in Third Quarter

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  • Originations Tumble 16% in Third Quarter

More Featured Data

Featured Reports

  • Mortgage Profitability Report 2Q26 (PDF)

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More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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