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The GSE Tally to Date: $23.5 Billion in Losses on Derivatives. But G-Fee Income Shines

May 5, 2016
John Bancroft and Carisa Chappell
Fannie’s guaranty fee income for single-family and multifamily segments nudged up 0.9 percent from the fourth quarter, while Freddie’s was up 0.4 percent.
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Short Takes: PHH on TPO: Subpar Profits / Mortgage Broker Share Holds Steady / Broker Blame? / NAMB’s New Identity / Home Point Hires Account Executives

May 5, 2016
Paul Muolo
PHH said in a new SEC filing: “We will not be pursuing our previously communicated acquisition strategy at this time..."
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Top-Five Servicers Continue to Pull Back; Receivables Drop Almost 8 Percent YoY

May 5, 2016
John Bancroft
U.S. Bank was the only top-five servicer that has been growing its portfolio…
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Fannie Mae’s Net Profit Fell 54 Percent After the GSE Took a $2.8 Billion Hit on Derivatives

May 5, 2016
Paul Muolo and Carisa Chappell
G-fees – which have been rising in recent years – are ultimately paid by borrowers.
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Lenders Push for House Vote on Bill Helping LOs Move From Banks to Nonbanks

May 5, 2016
Brandon Ivey
The Association of Mortgage Professionals, which represents mortgage brokers, said it believes the measure will dilute states’ rights to protect consumers.
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Two Harbors Takes $88.93 Million Net Loss in 1Q Due to MSR ‘Fair Value’ Changes

May 5, 2016
Brandon Ivey
Two Harbors was the first – and thus far only – firm to issue a jumbo MBS with loans subject to the TRID mortgage disclosure rule.
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A Sale of PHH/Assets Looms Large After 1Q Loss, Declining Revenue and Falling Originations

May 5, 2016
Paul Muolo
Earlier this year, management signaled that the nonbank is considering its options...
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Short Takes: The New Mortgage Normal: Volatility / When Red Turns to Black / Citadel on a Hiring Spree / Stearns Gets a New CFO / Would Your Lending Shop Accept Private Flood Insurance?

May 5, 2016
Paul Muolo, George Brooks, and Carisa Chappell
Is the end near for servicing writedowns? Hedging marks?
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Lenders Pushing for House Vote on Bill Helping LOs Move From Banks to Nonbanks, Mortgage Brokers Raise Concerns

May 5, 2016
Lenders and mortgage brokers are at odds over a House bill that would make it easier for loan originators to leave jobs at depository institutions and go to work for nonbank lenders. The Mortgage Bankers Association is pushing for a vote in the House on H.R. 2121, the SAFE Transitional Licensing Act of 2015. The bill was approved by the House Financial Services Committee in March on a 56-0 vote. The unanimous bipartisan support for the bill was fairly rare and suggested strong prospects for the legislation to move forward. However, a vote in the House has yet...
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Banks Toy with Creating an ‘FHA-Like’ Mortgage for Portfolio; But Can it Fly?

May 5, 2016
Paul Muolo
FHA lending via the retail channel by many of the nation’s largest depositories has plummeted in recent years...
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Latest Imf News

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