HSBC, Wells Fargo Test the NPL Market With Huge Auctions May 21, 2013 Paul Muolo Wells Fargo and HSBC are stepping up sales of nonperforming mortgages, while keeping a lid on the details. Read More
New Ginnie Mae Buyout Policy Eliminates Consecutive Lates May 21, 2013 George Brooks MBS issuers, under a new proposal, will have greater leeway in buying delinquent mortgages out of Ginnie Mae pools.Read More
Citi Names Private Bank Chief to Head Mortgages, More Jumbos? May 21, 2013 Paul Muolo Will CitiMortgage be an even greater player in jumbo lending with its new CEO?Read More
Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring May 21, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski New York State may be among the worst in the nation when it comes to approving loan officer applications.Read More
Sen. Reid Wont Give Up on Confirmation Hearing for Cordray May 20, 2013 Thomas Ressler Sen. Harry Reid is vowing that CFPB director Richard Cordray will get another vote in the Senate. Read More
Watt FHFA Nomination Hearing Wont Come Until Mid-June, a Plan B? May 20, 2013 Charles Wisniowski Progressives and other Dump DeMarco advocates are looking to a Plan B to replace the current acting head should Rep. Mel Watts nomination be significantly prolonged or even stall. Read More
Ocwen Dominates the Subprime Servicing Market with a 33.7% Market Share May 20, 2013 Brandon Ivey Ocwen had $155 billion of subprime servicing contracts at the end of the first quarter, more than double its next closest competitor.Read More
JPMorgan Dumps Mortgage Brokers from USDA Loan Program May 20, 2013 Paul Muolo One of the largest USDA mortgage lenders in the U.S. is giving the boot to third-party loan brokers.Read More
MountainView Hits Market with Two More MSR Deals May 20, 2013 Paul Muolo The bulk servicing market continues to heat up. MountainView is out with two new deals.Read More
Short Takes: MBA Offers G-Fee Deal, but Will FHFA Take It? / Wells and Citi Slowing Foreclosure Sales (Sort of) / Sen. Crapo Wants Answers from CFPB on Data Collection / Bayview Gets Hungry for NPLs, MSRs May 20, 2013 Paul Muolo and Thomas Ressler The Mortgage Bankers Association wants lower guaranty fees from Fannie Mae and Freddie Mac but is willing to barter for them. Read More