Streamline Refis Power VA-Backed MBS June 2, 2015 George Brooks California, Virginia, Texas, Florida and Washington, in sequential order, retained their VA securitization ranking from 2014.Read More
Two Harbors Turning Out to be a Prolific Issuer of Jumbo MBS June 2, 2015 Brandon Ivey Two Harbors is outpacing a fellow REIT, Redwood Trust, in terms of jumbo MBS deals with the latter putting more of an emphasis on whole loan sales.Read More
Short Takes: CFPB Fines of $1 Million a Day? / A Boon for Second-Lien Investors? / Billions of Dollars in HELOCs? / HARP Goes to Arizona / A New Hire for Hamilton June 2, 2015 Brandon Ivey and Paul Muolo According to one trader, secured nonperforming seconds sell in the secondary market for one penny on the dollar to 20 cents on the dollar…Read More
Blackstone’s ‘New’ Mortgage Company Can’t Take Apps Over the Web Until…the NYDFS Says So June 2, 2015 Paul Muolo In partnership with former Lehman Brothers Managing Director Brian Libman, Blackstone is trying to carry out a “roll-up” strategy...Read More
The Latest Lender to Pay Up via the FCA for FHA Violations: First Tennessee June 2, 2015 George Brooks The FHA loans were originated through the bank’s mortgage subsidiary, First Horizon Home Loans, which was sold to MetLife Bank in August 2008.Read More
Jumbo Originations Up Sharply in 1Q15 – Compared to a Year Ago June 1, 2015 Brandon Ivey Chase was the second-ranked jumbo lender in the first quarter of 2015, nearly closing the wide gap that Wells Fargo has maintained in recent years.Read More
Loan Limit for Redwood/FHLB Jumbo Program More Than Doubles June 1, 2015 Brandon Ivey The higher loan limit for the jumbo program will go into effect early in the third quarter.Read More
It’s Official: Nonprime Lender Citadel Rolls Out a Second-Lien Product June 1, 2015 Paul Muolo But the product does not come cheap. On an A- credit loan, the rate is set at 8.25 percent when CLTV is 60 percent. Read More
FHA Proposes Clarification of DE Rules but Industry Wants More June 1, 2015 George Brooks By signing the addendum, the borrower certifies that he or she will make payments on the mortgage or become indebted to the federal government...Read More
Provident Says it Has ‘No Knowledge’ that its Brokers Were Allegedly Overcharging June 1, 2015 Paul Muolo Although Provident entered into a consent order, it said in a follow-up statement that it has no knowledge that brokers “were allegedly overcharging certain borrowers.”Read More