One analyst who has written extensively on the recap-and-release topic estimates the advisory contract could be worth $20 million to $30 million...

Angel Oak issued two non-QM MBS earlier this year that each topped $600 million. The new offering is sized at $353 million.

BofA no longer reports mortgage earnings separately in its quarterly results. Residential finance is housed in the company’s community banking division, which reported net income of $3.3 billion in 3Q19, a slight gain from the prior period.

One servicing advisor told us he anticipated his clients (smaller shops) would likely take a hit of 2 to 5 bps on their MSRs, but it looks like the big boys are reporting numbers that are worse than that...

Industry analysts attribute the rise to a search for yield by investors along with increased acceptance of non-QMs in the investor community.

The warning comes in the wake of a Government Accountability Office report identifying weaknesses in FHA’s oversight of HECMs, particularly in monitoring, performance assessment and reporting.

After the transaction closes, business-purpose lending investments will account for more than 15% of Redwood's investment portfolio, up from a 4% share.

The megabank – a bellwether for the residential finance industry – also reported that mortgage banking income fell 38.5% sequentially to $466 million...

Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.

Common sense dictates that the larger the MSR portfolio, the steeper the pain will be...