Fed Chief Yellen Surprised at Lagging Housing Recovery December 18, 2014 Thomas Ressler Meanwhile, the FOMC indicated it will continue to reinvest principal payments from its holdings of agency debt and MBS. Read More
Short Takes: Thanks to Ackman, a Santa Claus Rally in GSE Stocks / New Jumbo MBS from CS / Home Flippers Stop Flipping? / Opus Active / A Departure at Altisource December 18, 2014 Brandon Ivey and Paul Muolo A year ago, in SEC filings, Pershing Square disclosed that it owned just under 10 percent of Fannie and Freddie common.Read More
OCC: Banks Are Actually Tightening Underwriting Standards December 17, 2014 Brandon Ivey The OCC said two banks exited the residential mortgage business in 2014 and another two plan to exit in the coming year.Read More
Quicken Completed Mortgage Broker LPMI ‘Sale’ in 60 Hours December 17, 2014 Paul Muolo A handful of other large national wholesalers offer LPMI, including United Wholesale Mortgage. Read More
CBO: Private Capital Can Replace the GSEs but Not Much Savings for Uncle Sam December 17, 2014 Brandon Ivey Advocates for GSE reform looking for savings in the federal budget will be disappointed...Read More
FHA MMIF Will Get $300MM From SunTrust Settlement December 17, 2014 George Brooks When settlements are first reported rarely does the money change hands right away.Read More
Plunging Oil Could Fuel a Mortgage Hiring Boom for Refis, But… December 17, 2014 Paul Muolo Plunging oil prices have led to a sell-off in stocks and a flight to quality, namely U.S. Treasuries and agency-backed MBS. Read More
Short Takes: Okay, Is Mortgage Credit Tighter or Looser? / A Management Shakeup at a Texas Lender / Quick, Rehire All the People You Fired / Tax Extender Bill Passed / Ex-CFC LO Headed to ‘The Big House’ December 17, 2014 Brandon Ivey and Paul Muolo A mid-sized nonbank based in Texas saw two of its top officers resign last week, industry sources confirmed to IMFnews.Read More
Finally 3Q Tally for MI Industry: New Premiums Up 9.8 Percent December 16, 2014 George Brooks Based on the upward production trend over the last three quarters, it appears the private MIs are on their way to a strong close at year-end.Read More
Servicing Settlement Monitor Sees Improvement at Everyone but Ocwen December 16, 2014 Brandon Ivey The monitor said Green Tree is working toward addressing issues that caused the servicer to fail eight metrics that were tested in the fourth quarter of 2013.Read More