Fannie, Freddie and CECL? Yawn… March 4, 2020 Dennis Hollier Many analysts anticipated that the implementation of CECL would balloon the loan loss reserves of the GSEs...Read More
Mortgage Industry Takes Measure as Fed Issues an Emergency 50 BP Rate Cut. A $3 Trillion Year? March 3, 2020 Paul Muolo Suddenly, lenders are talking about capacity issues...Read More
Warehouse Commitments Top $100B as Nonbanks Excel March 3, 2020 Paul Muolo According to IMF's 4Q19 ranking, JPMorgan Chase was the commitment volume leader with an estimated $19.0 billion of approved lines to nonbanks…Read More
DOJ Tells the High Court: Save the CFPB for its ‘Critical Work’ March 3, 2020 Yemeng Yang It is rare for Republicans, who have been critical of the bureau’s regulatory actions in the past, to praise the work of the consumer regulator. Read More
DoubleLine Invests in New Non-QM Lender OptionWide Financial March 3, 2020 Brandon Ivey DoubleLine Capital is now a “strategic investment partner and minority shareholder” in OptionWide Financial, a lender that focuses on non-QMs. Read More
Short Takes: The Recovery Has Commenced? / Will the 10-Year Fall Below 1.00%? / PE Fund has $5B, Wants to Buy MBs, Call Joe / Two Deals for Charbonneau / The Fed: We’re OK (Really) March 2, 2020 Paul Muolo According to industry consultant Joe Garrett, the typical residential mortgage company sale of the past few years has been an asset sale with a three-year earn-out.Read More
Freedom’s REIT Affiliate Will Avoid Nonconforming Market for Now March 2, 2020 Paul Muolo Although the REIT will avoid non-QM assets this year, it believes the market for the product will continue to grow...Read More
A New Ginnie Mae President? Don’t Hold Your Breath March 2, 2020 George Brooks For nearly all of President Trump’s term, Ginnie Mae has been operating without a president, carrying on its daily business with surrogates. Read More
Bank Mortgage Earnings Didn’t Move the Needle Much in 4Q19 March 2, 2020 John Bancroft For the year banks and thrifts earned $13.54 billion from mortgage banking, a 14.2% decline from 2018.Read More
GSEs Seek Applications for New Credit Score Models (Bring Cash) March 2, 2020 Dennis Hollier Would-be competitors for Fair, Isaac and Company, which owns the FICO models, are going to have to shell out a $200,000 application fee.Read More