Moody’s to Non-QM Lenders: Find Rookie Borrowers With Potentially Lucrative Careers October 29, 2014 Brandon Ivey Young doctors just out of medical school can be good non-QM credit risks. Of course, there's all that student loan debt to consider...Read More
Fannie Mae Turning Into a Multifamily MBS Monster: Deals Doubled in 3Q October 29, 2014 Charles Wisniowski Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.Read More
Warehouse Lenders See an Increase in Outstandings; Credit for Non-QM Loans? October 28, 2014 Paul Muolo Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.Read More
Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual? October 28, 2014 Paul Muolo and George Brooks Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...Read More
What’s Going On? Consumers Are Complaining a Lot Less About Mortgages October 28, 2014 Thomas Ressler Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013. Read More
Quick Turn-Time on Latest Jumbo MBS from Two Harbors October 28, 2014 Brandon Ivey DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.Read More
MBS Investments by Credit Unions on the Wane October 27, 2014 With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.Read More
Consumer Who Benefited From CFPB Castle & Cook Case Files Class Action October 27, 2014 Thomas Ressler In the Castle & Cook case more than 9,400 consumers received checks from the settlement with the CFPB. But one homeowner decided not to stop there...Read More
California Continues to Dominate the Jumbo Market – By Far October 27, 2014 Brandon Ivey Jumbo lending increased 14.2 percent in 2013 compared with the previous year. California posted a growth rate slightly above that level...Read More
Despite ‘Open Letter’ on Loan Mod Snafu, Ocwen’s Share Price Hits New Low October 27, 2014 Brandon Ivey Ocwen's open letter to borrowers likely will not assuage shareholders who have lost a ton of money on the firm.Read More