Ginnie Mae said new MBS issuers need to gain some experience in the agency’s program before they are allowed to do servicing transfers, but some newly approved issuers have attempted to do so. Roy Hormuth, director of single-family securitization at Ginnie Mae, said there has been some misconception among new issuers about doing a co-issuance program in their first month in the Ginnie program despite the fact that they are not ready for it. New issuers must first demonstrate that they can successfully manage the servicing themselves before they can transfer servicing immediately, he said. In a co-issuance transaction, a company sells...

Potential investors in RoundPoint Mortgage include PIMCO, which so far has spent several million dollars on due diligence and legal costs...

The Securities and Exchange Commission recently loosened risk-retention requirements somewhat for collateralized loan obligations, giving in to requests from industry participants. Risk-retention requirements for non-residential securitized products, including CLOs, take effect Dec, 24, 2016. Federal regulators issued a final rule for risk-retention requirements in October 2014 and CLO industry participants have been working since then to try and get regulators to address issues created by the final rule. In mid-July, Crescent Capital Group wrote...

So far, the privately held Angel Oak has said little about its securitization plans, as has its partner on this adventure, Nomura Securities.

“Of course, there are no guarantees, and all of our announced sales may not close as we currently envision,” said Ocwen's Ron Faris.

ARM MBS production by Fannie and Freddie in the first half of 2015 was down 20.1 percent from a year ago.

Stop the office renovations? The CFPB may be unconstitutional after all...

In particular, Wells said it would “withdraw from mortgage marketing services and desk rental agreements with real estate firms, builders and certain other referral sources.”

W.J. Bradley Mortgage recently settled a civil suit filed against one of its competitors, RPM Mortgage, regarding the alleged theft of customer loan files by a top-ranked and recruited loan officer. In a statement, RPM said: “We are pleased that the litigation with W.J. Bradley has been settled. As always, the confidentiality of client information is of paramount importance to RPM.” W.J. Bradley, the original plaintiff in the matter, would not comment...

Texas Capital BancShares recently unveiled a new correspondent acquisition program, but it’s not the loans per se that the bank is after – it’s the servicing rights attached to them. “They want to be in the servicing business,” said Chuck Klein, managing partner at Mortgage Banking Solutions. “The reason you enter the correspondent business is to get at the servicing rights. They’re in a great position to do a lot of business.” As for the details, the industry will...