IG Faults Freddie, FHFA for Not Resolving Servicing Complaints Fast Enough March 21, 2013 Charles Wisniowski The FHFA IG, in a new report, is critical of how Freddie Mac is managing its services regarding consumer complaints.Read More
JPM and EverBank Issuing Non-Agency Jumbo MBS, Total Tops $925 Million March 21, 2013 Brandon Ivey The long awaited recovery in the jumbo MBS market may finally be here as more banks plan to issue securities.Read More
Short Takes: Genworth Executive Bolts for Servicer / Hedge Funds Get Cold Shoulder from the GSEs? / Chimera Continues to Have Reporting Problems / The Cordray Saga Continues / PLS Modifications at 45 Percent March 20, 2013 Paul Muolo and Thomas Ressler Genworth is losing a top MI executive to a mortgage servicer. And more woes for Chimera...Read More
Fewer Prepayments Expected on Recent Non-Agency Jumbo MBS March 20, 2013 Brandon Ivey Stable interest rates are making refinancing less attractive to the newest mortgage borrowers, which should keep prepayment rates very low. Read More
Use of Cash Financing Increasing, More Investors Buying Homes March 20, 2013 Brandon Ivey The share of cash purchases of homes increased for five consecutive months, hitting 32.3 percent in February, based on the three-month moving average. Read More
Mortgage Applications Tumble Again, Refi Share Falls for 10th Straight Week March 20, 2013 Paul Muolo Is the refinancing boom finally over? Some mortgage bankers are beginning to get nervous.Read More
FHFA IG Raises the Question of Whether $93 Billion in GSE Deferred Tax Assets Can Be Captured March 20, 2013 Paul Muolo and Charles Wisniowski Can Fannie Mae and Freddie Mac capture $93 billion in deferred tax assets - money that ultimately will flow through to the U.S. Treasury? Read More
Short Takes: HUD Ready to Slash Contractors / CoreLogic Sees Improvement in Underwater Homes / Two Harbors Raises $673 Million / HSBC Planning the Mother of All NPL Auctions? March 19, 2013 Paul Muolo HUD may be forced to cut some of its vendors due to the federal sequester. Meanwhile, Two Harbors raises $673 million.Read More
Senate Banking Panel Approves Cordray to Head CFPB But GOP Isnt Happy March 19, 2013 Thomas Ressler The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.Read More
FHFA Chief Critical of Congress for Lack of Movement on GSE Reform March 19, 2013 Charles Wisniowski FHFA chief Edward DeMarco on Tuesday criticized Congress for doing nothing in regard to GSE reform.Read More