Lone Star Prepares Second Nonprime MBS of 2016, Possibly the Largest Deal of the Post-Crisis Era August 31, 2016 Brandon Ivey The new security also will include mortgages originated by Sterling Bank & Trust…Read More
Steady as She Goes in Subservicing Market. Cenlar Continues to Dominate August 31, 2016 Paul Muolo Certain subservicers, including Nationstar Mortgage, continue to solicit others to shift their servicing chores over to them…Read More
Some Lenders Expect to Set New Production Records in August August 31, 2016 Paul Muolo One originator described August’s activity as “busy, crazy busy…”Read More
Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted August 31, 2016 Paul Muolo and George Brooks What Stevens describes sounds like something a trade group might want to do...Read More
The Six-Month Tally: FHA Production Up 8.4 Percent, VA by Almost 13 Percent August 30, 2016 George Brooks It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the second quarter than either FHA or VA…Read More
Subservicer Statebridge Nearly Doubles Contracts to $2.60 Billion August 30, 2016 Brandon Ivey FrontRange Capital first invested in Statebridge back in 2013. The money allowed the subservicer to buy out its then-owner, Integrated Asset Services.Read More
Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort August 30, 2016 Paul Muolo While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.Read More
Prestwick Selling $502 Million of Fannie Mae/ Freddie Mac Servicing Rights August 30, 2016 Paul Muolo All of the loans were funded through the retail channel by the seller company.Read More
MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent August 30, 2016 Paul Muolo The results should surprise few: big gains on production, losses on servicing…Read More
Short Takes: Bank Says ‘We’re a Subprime Lender Too’ / No Ties to BofA / And the Big Three of Nonprime Lending Are… / REIT Exits NPL Market / Former MGIC Chief Lacy Dead at 71 August 30, 2016 Paul Muolo The largest nonprime (non-QM) lenders are likely (in no certain order): Citadel Loan Servicing, Deephaven Mortgage and Angel Oak...Read More
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