Ginnie Mae Plan for MBS Integration Coming Soon July 15, 2013 George Brooks Some Ginnie Mae investors, however, have voiced concern about the MBS conversion process, particularly its costs.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
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
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
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
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
Short Takes: Wells Employee Arrested in Money Laundering Probe / Applications Off 25 Percent at Some Shops / Reg Relief for Small Balance Mortgages / MBA Wants Say on Securitization Platform / Foreclosures Continue to Tumble July 11, 2013 Paul Muolo In general, mortgage applications are off 25 percent from their peak. Meanwhile, a Wells Fargo employee with an NMLS number has been arrested. 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
Carrington Mortgage EVP Rick Sharga Departs for Auction.com July 11, 2013 Paul Muolo Over the years Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee.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
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