CitiMortgage Sees Originations Fall but Marks Up Asset Value of MSRs July 15, 2013 Paul Muolo Citigroup is becoming more aggressive in residential lending, especially in the jumbo space. Read More
Agency MBS Issuance Declined Slightly in Second Quarter July 12, 2013 John Bancroft Fannie Mae and Freddie Mac both saw production slow during the second quarter, by 7 percent and 2 percent, respectively.Read More
Wells Boosts Residential Lending by 2 Percent in 2Q; JPM’s Mortgage Earnings Rise 143 Percent July 12, 2013 Paul Muolo Wells Fargo and JPM posted strong mortgage results for the second quarter. But what lies ahead for the industry? Read More
Mortgage Industry Wins Round in Loan Officer Overtime Battle July 12, 2013 George Brooks The issue of whether mortgage loan officers should be eligible for overtime pay has long been a bone of contention between companies and LOs.Read More
Senate Banking Committee Expected to Clear Watt’s FHFA Nomination, But… July 12, 2013 Charles Wisniowski The Senate Banking Committee is expected to advance Rep. Watt’s nomination to the Senate floor, strictly along party lines. Read More
What We’re Hearing: A $30 Billion MSR Deal Hits the Market / Wells Amps Up the Value of its MSRs / Subprime: Lots of Interest, Not Many Lenders / Hensarling Bill Will Be a Raisin Soon / Jumbo Whole Loans Fail to Trade July 12, 2013 Hedge funds continue to salivate over mortgage servicing rights. Meanwhile, the Hensarling GSE bill goes down like a Led Zeppelin.Read More
Private MI Helps Spur Growth in Purchase-Mortgage Market July 11, 2013 John Bancroft The two GSEs securitized $56 billion of home loans that included private MI coverage during the second quarter, a 12 percent jump from 1Q. Read More
CFPB Finalizes Changes to Ability-to-Repay, Servicing Rules July 11, 2013 Thomas Ressler The changes also clarify which mortgages will be considered for purposes of determining “small servicer” status. Read More
New York Regulators Freeze FHA’s MIP Cancellation Policy July 11, 2013 George Brooks Regulators in New York state are concerned that the increased MIP could raise the loans’ APR and convert them into subprime.Read More
PREO Mortgage Bought by First Key, a Cerberus Unit July 11, 2013 Paul Muolo Cerberus' purchase of PREO Mortgage of Atlanta could be the beginning of something big for the company.Read More
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