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FHA Rejection Rate on Condo Projects at 60 Percent

December 3, 2013
George Brooks
The top reasons for FHA condo denials include financial instability, pending litigation, insufficient insurance coverage and outdated or missing documentation.
Read More

PennyMac the Winning Bidder on CashCall’s $10 Billion of MSRs?

December 3, 2013
Paul Muolo
Several large bulk MSR deals are pending, but can they get done before year-end?
Read More

Senators Blast Obama Administration’s ‘Wait and See’ Eminent Domain Approach

December 3, 2013
Charles Wisniowski
“Eminent domain may be a local matter, but in the context of seizing mortgages, its use would have national consequences,” the four senators write in their letter to Treasury Secretary Jack Lew.
Read More

Walter Plans New $1.6 Billion Credit Line, Will Buy More MSRs

December 3, 2013
Paul Muolo
The fast growing Walter Management also will sell $500 million worth of senior notes through a private placement.
Read More

Ginnie Mae MSRs Begin to Slide

December 3, 2013
George Brooks
Just how big is Wells Fargo's Ginnie Mae market share? At Sept. 30, the bank controlled 31.53 percent of the market. Its closest competitor was JPMorgan Chase with a mere 11.75 percent.
Read More

No Effort in Congress to Extend FHA High-Cost Loan Limit

December 2, 2013
George Brooks
Over the past two years, the FHA endorsed 9,183 loans between $600,000 and $729,750
Read More

G-Fee ‘Parity’ Between Large and Small Mortgage Firms Elusive

December 2, 2013
Paul Muolo
How much individual sellers pay for their g-fees is one of the best-kept secrets in the industry.
Read More

Is There a Sign of Life in the Alt A Mortgage Market?

December 2, 2013
John Bancroft
The Alt A origination estimate is based on the volume of first-lien conventional mortgages with interest rates ranging from 150 basis points over the prime mortgage rate to 300 bps over.
Read More

BofA Will Pay Freddie $404 Million to Settle Legacy Repurchase Claims

December 2, 2013
Paul Muolo
The GSEs are beginning to take in a significant amount of money from R&W settlements, but both stand to reap an even larger windfall from a pending civil lawsuit filed by the FHFA against 17 issuers of private label MBS.
Read More

FHFA Will Unveil Capital Ratio for MIs Soon; New ‘Master Policy’ Out Now

December 2, 2013
Paul Muolo
Meanwhile, the regulator Monday morning unveiled new “master policy” requirements for the MI industry, which will make it harder for insurance firms to get out paying claims on defaulted mortgages.
Read More
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