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What We’re Hearing: Caliber and PHH, an Update / Not a Good Thing: Having Too Much of Your Net Worth Tied up in MSRs / Banks and Brokers: No Longer in Love / Will a Retail Subprime Lender Emerge and Go National? / IU Chief Loses GSE Case

August 26, 2016
Paul Muolo
Angel Oak, by the way, is licensed to lend in 30 states. It hopes to be in 40 within the next year, said company official John Hsu…
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Ocwen Agrees to Pay WA Almost $1 Million to Settle Charges that it Used Unlicensed Offshore Affiliates to Perform Servicing Functions

August 26, 2016
Paul Muolo
Ocwen services roughly 60,000 loans in Washington state.
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Credit Suisse Sells $800 Million in Securities Backed By Warehouse Facility on Agency-Eligible Mortgages

August 26, 2016
Credit Suisse sold two warehouse facility-backed securities this week totaling $800.0 million, according to Moody’s Investors Service. The rating service placed A2 ratings on the Mortgage Repurchase Agreement Financing Trust Series 2016-1 and Series 2016-2 transactions. Much like a warehouse facility security issued by Jefferies in May, Moody’s said the MRAFT securities are structured with two legs of “back to back” repurchase agreements. The first leg consists...
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Mortgage Securitization Rate Drifts Slightly Lower in 2Q16, Remains Well Below Post-Crash High

August 26, 2016
John Bancroft
Fannie Mae and Freddie Mac are seeing some competition for eligible mortgages from portfolio lenders…
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Law Firms Publish Joint Paper on CMBS Risk-Retention; First Compliant Deal Closes

August 26, 2016
In a somewhat uncommon occurrence, four law firms published a position paper late last week aimed at helping industry participants comply with pending risk-retention requirements for new commercial MBS. The paper was written by attorneys at Cadwalader, Wickersham & Taft; Dechert; Orrick, Herrington & Sutcliffe; and Sidley Austin. “The paper was authored...
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Should Residential Loan Officers Worry About Their Jobs and Automation?

August 26, 2016
Paul Muolo
Depending on where they work, mortgage loan officers can earn anywhere from 20 to 100 basis points per loan.
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GSEs Introduce a New Loan Dispute Appeal Process…

August 26, 2016
Carisa Chappell
Fannie Mae and Freddie Mac introduced the IDR program back in February as the final piece to the representation-and-warranties framework.
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Short Takes: Stonegate Mortgage a Buyer of Other Firms? / The Other Stonegate Buys a Florida Bank / The Kings of the Channels / A New Permanent CEO for Clayton / Former FHFA Director DeMarco Sets the Record Straight

August 25, 2016
Paul Muolo
From what we understand, Stonegate Bank is not very active in residential lending, but Insignia is…
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FHFA Readies Successor Program to HARP. Name to Follow

August 25, 2016
Carisa Chappell
FHFA estimates there are roughly 300,000 homeowners potentially eligible to refinance through HARP.
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Did Someone Die in the House You’re About to Make a Mortgage On?

August 25, 2016
Sherry Muolo
California, Alaska, and South Dakota are the only states required to disclose death on property information in written disclosures…
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Latest Imf News

  • Servicing Portfolios Decline at Rocket, Chase in 3Q

  • Onity Adjusting MSR Acquisition Strategy, Subservicing

  • Ending GSE Conservatorship by 2028 Looks Unlikely

  • Consumer Advocates Seek Stronger Regulation of HEIs

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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