During 4Q14 Javelin Mortgage Investment sold all of its holdings of prime, fixed-rate, senior bonds from new-issue jumbo MBS – $119.6 million of non-agency product in total.
Tom Popik, research director of Campbell Surveys, notes that the Quicken Loans’ call-center model can be an accepted alternative to local mortgage branches.
Lenders make adjustments to staffing levels based on demand for purchase mortgages while demand for refinances spur little increase in mortgage employment levels, according to new research from staff at the Federal Reserve. Steve Sharpe, an economist at the Fed, and Shane Sherlund, an assistant director at the Fed, said mortgage processing capacity constraints caused by refi booms reduce originations to borrowers with low to modest credit scores ...
With the first quarter coming to a close, the mortgage mergers and acquisitions market shifted into high gear this week as Ocwen Financial stepped up its auction of agency servicing rights and new revelations surfaced that RoundPoint Mortgage was almost sold, but the deal hit a snag over pricing. According to investment banking officials familiar with the RoundPoint situation, a buyer backed away from the transaction because the servicer’s owner, Tavistock Group ...