The Final MSR Transfer Count for 2015: $254 Billion; BofA a Major Seller of Ginnie Rights January 27, 2016 John Bancroft Not only has BofA reduced its presence in the FHA market, but it keeps dumping its Ginnie Mae servicing rights...Read More
MBS Liquidity Falls to a New Low… January 26, 2016 Paul Muolo As a structural matter, the bank is moving the operation from its “securitized products” group to “macro trading.”Read More
Short Takes: Flagstar’s Best Year Since 2003 / Depositories Not So Aggressive in Table Funding (Still) / Genworth’s Share Price Continues to Suffer / Arch Among Fast-Growing MI Firms / DB’s MBS Research Chief Departs January 26, 2016 Paul Muolo Flagstar is the largest depository remaining as a table funder of mortgages through loan brokers...Read More
Florida Lender Launches Non-QM Products for Brokers, Touts ‘Limited Doc’ January 26, 2016 Brandon Ivey Loan amounts of up to $2.0 million are allowed under the program, though in certain cases A&D will go as high as $5.0 million. Read More
Flagstar Admits TRID was a Problem; Originations Down 26 Percent in 4Q January 26, 2016 Paul Muolo Mortgages sold and securitized by Flagstar fell 29.4 percent. Read More
Credit Unions Not Happy With New Reporting Requirements Under HMDA January 26, 2016 Thomas Ressler Credit unions could incur an average cost of almost $9,600 to update their computer systems with the changes required by the CFPB…Read More
Third-Party Originators More Daring on Credit in 4Q15 January 25, 2016 John Bancroft Loan brokers were slightly more purchase-focused than retail lenders...Read More
Short Takes: Quicken Taps Microsoft Executive for Strategy Post / Mortgage Technology Innovators? / NY and NJ a Problem for Freddie Mac / Stonegate Mortgage Hires SW Regional Manager January 25, 2016 Paul Muolo Besides Quicken, loanDepot has been mentioned as an innovator when it comes to new using new technologies...Read More
AIG Plans to Spin Off Top-Ranked MI in a Tough Market for Mortgage Stocks January 25, 2016 Paul Muolo A change of control of a mortgage insurance firm would need the approval of Fannie Mae or Freddie Mac...Read More
Realtors Chime in About TRID Delays January 24, 2016 Thomas Ressler A Realtor in North Carolina noted, “Lenders do not communicate well with real estate agents…”Read More
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