HUD Delays HECM Financial Assessment Requirement February 19, 2015 George Brooks Issued in November of last year, the requirement was slated to apply to all HECM mortgages with case numbers issued on or after March 2, 2015.Read More
Freddie Posts Meager Earnings of Just $227 Million, but Says Not to Worry, It’s All About Derivative Accounting February 19, 2015 Paul Muolo After Freddie Mac makes its next dividend payment in March to the U.S. Treasury, the GSE will have returned $91.8 billion to the government versus financial assistance draws of $72.3 billion. Read More
Earnings at Freddie Mac Plunge by 90 Percent; GSE Blames it on Derivative Losses of $3.4B February 19, 2015 Paul Muolo Freddie reported a $2.7 billion net worth at Dec. 31 and will pay Treasury a $900 million dividend based on fourth quarter results.Read More
Private MIs Lost Some Ground to FHA in 2014, but Ended Year with Solid Gains February 19, 2015 John Bancroft Meanwhile, the private MIs reported just $1.24 billion of new HARP business for the fourth quarter.Read More
VA Loan Production on a Tear in 4Q, But Agency Light on Details February 19, 2015 George Brooks John Bell, assistant director for loan policy at the VA Home Loan Guaranty Service, said VA streamline refinancings rose 18 percent year over year...Read More
Applications Drop by Double Digits; Suddenly, Some Nervousness on Rates February 18, 2015 Paul Muolo Warehouse lending executives interviewed by IMFnews the past week are reporting healthy usage rates from their nonbank clients...Read More
Ocwen Sees Favorable Movement in Battle with BlueMountain as HLSS Enters Agreement with Trustee February 18, 2015 Brandon Ivey Analysts believe BlueMountain’s play is to ultimately drive down Ocwen’s share price and clean up on its short positions.Read More
Short Takes: Would You Buy Ocwen Now? / MIAC Offering MSRs / Sindeo Secures Investment / Fannie Rolling Out New Version of DU / Clayton Hires Former Subprime Executive February 18, 2015 Paul Muolo and Brandon Ivey Ocwen’s massive servicing portfolio (roughly $377 billion in UPB) is worth more than the entire market capitalization rate of the company...Read More
GSE MBS Issuance Down in January as Refis Sputtered February 18, 2015 John Bancroft Freddie Mac actually increased its monthly volume by 7.3 percent from December levels, but Fannie Mae’s production fell 15.6 percent.Read More
PHH Posts a Loss, Declining Revenue and Lower Originations; The Merrill Contract? February 18, 2015 Paul Muolo Analysts who follow the company are keenly aware that the Merrill contract accounts for 29 percent of PHH’s annual production.Read More
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