And the Beat Goes On: Banks Continue to Shed Servicing Rights September 14, 2015 John Bancroft Two companies – Wells Fargo and Bank of America – accounted for virtually all of the decline in bank MSR holdings during the second quarter.Read More
Home Point Looks to Buy Servicing Rights, Add Another Retail Team September 14, 2015 Paul Muolo Recently, Home Point added a large retail lending team from Great Plains Bank and Newman promised that “we have another large retail team scheduled to come on in the next several weeks.”Read More
Looser Credit on the Way? Fannie Tweaks Self-Employment Verifications September 14, 2015 Carisa Chappell The set of changes was updated in the GSE’s selling guide and shows a new way that income from self-employment can be both calculated and documented.Read More
Nationstar Trademarks the Name ‘Mr. Cooper.’ But Why? September 14, 2015 Paul Muolo "Mr. Cooper" seems like an odd name for a mortgage company to trademark, but you never know...Read More
SIFMA Presses FHFA to Align GSE MBS Programs and Set a Timetable September 14, 2015 John Bancroft SIFMA argues that the FHFA has to take a more active role in keeping GSE programs aligned so that differences in prepayment speeds do not emerge.Read More
Short Takes: Skyline Aims to Reduce LO ‘Posses’ / The Coming Texas Housing Bust / Go With the Astros, Not the Cubs / MSR Deal From Prestwick / CRE Outlook From Auction.com / Ocwen, Not Made in America September 14, 2015 Paul Muolo Irony or good business?: Ocwen's mortgage customers are located in the U.S., but the back office staff processing their loans are mostly overseas.Read More
Banks Continue to Pull Away from the ABS Market September 11, 2015 John Bancroft Charles Schwab Bank was the biggest investor in consumer ABS with $12.49 billion at the midway point in the year.Read More
The Non-QM Market Has a Problem: Anxiety About Getting Sued September 11, 2015 Brandon Ivey It could be years before many lenders get comfortable offering non-QMs with significant default risk due to the litigation risk.Read More
TRID is Just Weeks Away. Will Congress or the White House Act? September 11, 2015 Thomas Ressler Although Republicans likely have enough votes to force a multi-prong regulatory relief bill through both chambers, the White House remains opposed...Read More
Concern Over Gain-on-Sale Margins Heats Up as Volumes Begin to Drop September 11, 2015 Paul Muolo As one jumbo securitization officialtold Inside MBS & ABS: “Gain-on-sale margins have been okay, but no one is buying a new boat.”Read More