Coupled with a recently announced Freddie Mac MSR sale to Nationstar ($9.8 billion), Ocwen estimated the sale of GSE receivables will generate $550 million in gross proceeds.
One investor, commenting on the lack of information regarding 4Q results, told IMFnews: “I think the attorneys are going to make them disclose a lot of stuff that they have been brushing under the rug..."
At Dec. 31, depositories held $964.2 billion of pass-through securities issued by Fannie Mae, Freddie Mac and Ginnie Mae, a gain of 1.3 percent from the third quarter.
With the jumbo MBS market slow to rebound, Redwood Trust has put an increased emphasis on agency mortgages, its commercial mortgage business and risk-sharing transactions with the government-sponsored enterprises. On the residential side, Redwood has continued to work on issuing jumbo MBS, but the real estate investment trust usually finds better execution in whole-loan sales. Redwood obtained approval as a seller to the GSEs at the end of 2013 and completed $4.0 billion in conforming mortgage correspondent business last year. During the fourth quarter, Redwood delivered...
After seeing what’s transpired at Nationstar, Owen and Walter the pass year, would Dan Gilbert (who owns Quicken Loans) and Stan Middleman (Freedom’s owner) ever ponder going public?...
Not only are residential loan officers in high demand these days – especially ones with fat Rolodexes – but some of these top performers are being offered “signing bonuses” of $5,000 to $40,000, and even more to jump ship. Moreover, according to interviews conducted by Inside Mortgage Trends, the most aggressive bidders for high-performing LOs are nonbanks, which have been steadily stealing market share away from the megabanks the past few years. “Most depositories are not committed...
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