Flagstar Recently Tried to Sell $10 Billion of MSRs. But Did the Deal Close? September 16, 2015 Paul Muolo Over the past few years, Flagstar has been a selective seller of mortgage servicing rights, lopping off packages as large as $40 billion.Read More
Short Takes: The CSP is Costing How Much? / As for the Implementation Date… / Ocwen Loses Money on MSR Sale / Walter’s ‘Insurance’ Transaction? / A New Hire for MIAC September 16, 2015 Paul Muolo Technology, like MBS, can be complicated. Just read the new FHFA report…Read More
Coming This Fall: Congressionally Mandated Salary Caps for Fannie/Freddie CEOs? September 16, 2015 Carisa Chappell GSE watchers anticipate the salary cap legislation will be signed into law this fall.Read More
Mortgage Employment Holds Steady; Fewer Layoffs This Fall? September 16, 2015 Paul Muolo Paul Hindman of Grid Origination Services noted that any public company CEO who does not deliver on performance mandates “is at risk, more so than ever in today’s market.”Read More
Is it Good or Bad News That the GSEs Are Losing Market Share? September 16, 2015 John Bancroft Back in the early years after the financial crisis, Fannie and Freddie accounted for 60.0 percent or more of primary-market originations...Read More
Ocwen Now Expects a Loss for 2015; More Layoffs Planned; Oh, and It Hopes to be a Top 10 Lender September 15, 2015 Paul Muolo According to figures compiled by Inside Mortgage Finance, Ocwen may have a long way to go in meeting its production dreams... Read More
HARP Refi Volume Just About Flat in 2Q15 September 15, 2015 John Bancroft Fannie Mae had a slight increase in HARP activity and accounted for 59.3 percent of the total for the two GSEs...Read More
Short Takes: Almost All GSE-Related Legislation is DoA / Don’t Kill the Golden Goose / Those Crazy Common Investors / The GSEs Are Worth $105 Billion? / Brian Webster’s Resume September 15, 2015 Paul Muolo In 2Q, the GSEs earned $8.8 billion combined. Multiply that by four (quarters) and then three (years) and you get $105.6 billion.Read More
Radian Launches Two Jumbo MI Offerings, Including Product for Medical Professionals September 15, 2015 Brandon Ivey It seems that more MI firms are sticking their toes into the jumbo waters...Read More
Bank of America Remains the Mortgage Repurchase King September 15, 2015 John Bancroft Bank of America still leads the industry in buybacks with $539 million on a year-to-date basis, or 28.5 percent of the total for all banks. Read More