Another bank bites the dust in wholesale: Fifth Third Bank, which ranks second among depositories in the channel, according to Inside Mortgage Finance.
In a new report, Compass Point Research & Trading asks: “Are the special servicers bad actors?” CPR&T concludes the answer is no, but notes “there is some merit” to concerns about the rapid portfolio growth at certain firms…
Among other things, the eligibility standards will establish new risk-to-capital ratios for the nation’s seven active MI firms and could dictate how much in the way of dividends an MI can upstream to its parent company.
The new version incorporates lessons learned from the financial crisis of 2008 along with contemporary concerns about mortgage originations and servicing.
According to exclusive survey figures compiled by Inside Mortgage Finance, loan brokers accounted for 9.8 percent of all originations in the fourth quarter, a slight improvement from the 9.6 percent market share reading in the third quarter.
Mortgage repurchases peaked in 2009 at $34.276 billion, fell to $31.811 billion in 2010 and $20.943 billion in 2011, and then dropped to just $12.966 billion in 2012.
Despite gains in oversight and reform of the compensation packages for Fannie Mae's and Freddie Mac's top-level executives, the Federal Housing Finance Agency did not keep a close eye on the pay packages for scores of GSE vice presidents and directors, according to the FHFA’s official watchdog. In a heavily redacted draft memo released to the public, the FHFA’s Office of Inspector General said that while the agency reviewed and examined the GSEs' executive compensation, it did not keep close tabs on “non-executive senior professional compensation practices.”
Company executive Doug Reilly, commenting on the mortgage M&A market, had this to say: “It seems we need to take 20 girls to the alter just to marry one”…
A few weeks back, Rep. Mark Takano, D-CA, called for Congressional hearings on the single-family rental MBS market, singling out investments made by the Blackstone Group.
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