Short Takes: Navy Fed Sets New Company Record for Originations / Keep, Don’t Sell / PennyMac Amends Servicing Facility / Fed Keeps Buying MBS, but Less Than Before / DBRS Adds Portfolio Advisors April 6, 2015 Paul Muolo The no-downpayment product from Navy Federal is called “HomeBuyer’s Choice,” and year-to-date the lender has funded $179 million in such loans…Read More
New Residential Buys HLSS Via Asset Purchase; Merger Kaput April 6, 2015 Paul Muolo The original merger agreement, unveiled in late February, was an all-cash deal valued at $1.3 billion.Read More
Reliability of a Lender’s Preapproval a Key Issue for Real Estate Agents April 3, 2015 Brandon Ivey One real estate agent said an unidentified lender offers preapproval letters to “anyone who walks in.” Read More
Fannie Mae Unveils Concrete Plans to Sell Nonperforming Loans; BofA Product? April 3, 2015 Carisa Chappell Fannie Mae indicated that this auction will be the kick-off to future sales.Read More
Mortgage and ABS Market Rebounded in First Quarter April 3, 2015 John Bancroft Fannie Mae, Freddie Mac and Ginnie Mae securitized $151.1 billion of refi loans during the first quarter, a 34.8 percent increase from the end of 2014.Read More
Banks and Thrifts Hold Just Under $1 Trillion of Second Liens April 3, 2015 Brandon Ivey The 90+ day delinquency rate on second liens was 0.27 percent at December 31, just about flat compared with the previous quarter. Read More
What We’re Hearing: A Loosening of Credit? Not Really / How Big of an LLPA Cut? / PMIERs? / Ocwen Earnings on Indefinite Hold / High Turnover at NE Lender? / PennyMac Gets Financing from Citi / UWM Says Freddie 3 Percent Down Product Better Than FHA April 3, 2015 Paul Muolo As one Ocwen source told us: It’s on “indefinite” hold…Read More
Thanks to Refis, A Sweet Issuance Quarter for Fannie and Freddie April 2, 2015 John Bancroft Refinance loans accounted for over half (62.2 percent) of total GSE business during the first quarter...Read More
Zacks Goes Against the Grain and Downgrades MGIC April 2, 2015 George Brooks Zacks Investment Research downgraded MGIC Investment Corp. by two notches...Read More
Former FDIC Chief Isaac: No Capital for the GSEs is a Bad Idea April 2, 2015 Carisa Chappell In years past, some have likened Fannie and Freddie to being giant thrift institutions... Read More
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