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ABS Market is Back: 2014 Strongest Post-Crisis Year Yet for Issuance

January 23, 2015
John Bancroft
ABS issuance was up 12.0 percent from the prior year, with solid gains in three of the market’s key sectors: auto finance, credit cards and business loans.
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Thanks to Technology, Loan Officers Rarely See the Borrower

January 23, 2015
Paul Muolo
One LO who works for a top-10 lender (a bank) said she actually sees her customers half the time...
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Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update

January 22, 2015
Paul Muolo, George Brooks, and Brandon Ivey
Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...
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At Least 90 Percent of the Time the Loan Officer Never Meets the Client Face-to-Face; Does it Matter?

January 22, 2015
Roughly 90 percent of the time, residential loan officers never see the end mortgage customer, according to several weeks’ worth of interviews conducted by Inside Mortgage Finance. However, few in the industry think it’s a problem. “We have the technology not to see our applicants,” said Jim Picard, vice president of home loans for Denali Alaskan Federal Credit Union. The technology that Picard and others refer to is...
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IMA Advises MSR Clients to Hold off on Bringing Deals to Market

January 22, 2015
Paul Muolo
Other investment bankers who work the MSR market said declining interest rates and the “Ocwen” effect are hurting values.
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Redwood Set to Issue Another Jumbo MBS with Non-QMs

January 22, 2015
Brandon Ivey
First Republic Bank is the top contributor to Redwood's new jumbo deal with a 31.7 percent market share.
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Quicken Snatches Former CFPB Official Pete Carroll Away from Wells Fargo

January 22, 2015
Paul Muolo
Sources familiar with the situation said Carroll began spreading the word about his departure last week.
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Supreme Court Justice Scalia May ‘Go Rogue’ in Disparate-Impact Case

January 22, 2015
Thomas Ressler
Compass Point Research told clients that the case not only directly affects mortgage originators, but has implications for other lending sectors as well.
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First-Time Buyers Accounted for 43 Percent of Agency Purchases in 2014; Wells Dominant

January 22, 2015
Brandon Ivey
Just over $224 billion of mortgages to first-time homebuyers were included in agency MBS issued in 2014, according to figures compiled by IMF.
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Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire

January 21, 2015
Paul Muolo and Brandon Ivey
Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…
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Latest Imf News

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Featured Data

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Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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