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IG: Thanks to the FHFA, Fannie and Freddie Have a Spending Problem

October 6, 2015
Carisa Chappell
In his rebuttal to the IG’s findings, FHFA acting deputy director of conservatorships, Bob Ryan, concurs with some of the IG’s recommendations but takes issue with other aspects of the report.
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Does the CFPB Want to Kill All MSAs? Movement Mortgage Stays the Course

October 6, 2015
Paul Muolo
Movement's attorney declined to identify the lender's MSA partners, but said “no enforcement action” was taken against the privately held company, which was started in 2007 by former NFL player Casey Crawford.
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3Q Ginnie Mae Issuance Sets New Record; Purchase Volume the Key

October 6, 2015
John Bancroft
The flow of FHA purchase mortgages jumped 37.7 percent from the second to the third quarter, and VA purchase mortgages rose 37.9 percent over the same period.
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Short Takes: Short Sellers Target Ocwen Big Time / A Dangerous Game / CFPB IG Identifies ‘Challenges’ / Fastest-Growing Lender Revealed / FGMC Hires Former Fannie Official

October 5, 2015
Paul Muolo and Thomas Ressler
Anyone familiar with equities knows that shorting stocks can be a dangerous game. Then again, it's Ocwen...
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It’s Monday Morning, TRID is Here and LOS Providers are Still Correcting Software Snafus

October 5, 2015
Paul Muolo
One technology source told IMFnews: “I know a few LOS [providers] that are still correcting payment calculations.”
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Phoenix in the Market with $3 Billion-Plus of Servicing Rights

October 5, 2015
Paul Muolo
On the conventional product, the loans have an average age of 23 months and delinquencies in the 3.0 percent range. Almost 80 percent of the loans are in California.
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Trouble Ahead? Jumbo MBS Issuance Declines; Nothing from Redwood

October 5, 2015
Brandon Ivey
Where's the demand? Only seven jumbo MBS were priced during the third quarter.
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Walter Names Denmar Dixon New CEO; O’Brien Retires With $3 Million Package

October 5, 2015
Paul Muolo
Investors are unhappy with the performance of Walter's stock price...
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Big Banks Shift Loan Mod Efforts from HAMP to Proprietary Products

October 5, 2015
Brandon Ivey
The use of proprietary mods by banks was essentially level compared with the second quarter of 2014 while the number of HAMP restructurings declined by 42.9 percent.
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What We’re Hearing: Is It ‘Open Season’ on Mortgage Bankers? / The Coming Storm Over Marketing Service Agreements / Realtors and MSAs? / loanDepot Fights Back / Mortgage Carpetbaggers?

October 2, 2015
Paul Muolo
Some have suggested that it’s no wonder that several mortgage company owners – including those who control specialty servicers – are contemplating selling their companies.
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