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Agency MBS Issuance Soars in July, Purchase Loans Star

August 9, 2019
John Bancroft

At Fannie and Freddie, cash-out refinance volume was up 16.0% from June, while rate-term transactions rose 12.6%.


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Impac Posts a Profit in 2Q19 but Reports a Drop in Non-QM Lending

August 9, 2019
Brandon Ivey

Impac’s return to profitability occurred as the nonbank slashed spending on marketing and reduced staffing levels. The lender spent $2.0 million on business promotion in the second quarter compared to $9.0 million a year ago...


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Freedom Mortgage Inks Another M&A Deal. More on the Way?

August 8, 2019
Paul Muolo
The top-10 originator recently agreed to buy mid-sized lender J.G. Wentworth Home Loans of the mid-Atlantic. M&A sources contend that Stan Middleman’s shop has more deals in the pipeline.
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Short Takes: FHFA Toys With the Residential Application Form / Rising Like a Rocket: Impac / And Then There’s Ocwen / A 41% Drop in Employment for this One Company / The Kill Fee Revealed

August 8, 2019
Paul Muolo

Roughly four years ago, Ocwen Financial employed 10,500 workers worldwide. The firm's headcount is down dramatically since then...


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MSR-Hungry New Residential Readies Preferred Stock Deal, Provides Ditech Update

August 8, 2019
Paul Muolo

At June 30, the REIT owned $441 billion of MSRs, a 9.7% increase from March 31. The figure exclude excess servicing rights.


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Primary MI Volume Soars in 2Q19, Best Showing Since Late 2016

August 8, 2019
John Bancroft

The top three MIs in terms of risk-in-force: Arch, Radian and MGIC...


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CEO of GSE Single-Security Platform to Depart, No Specific Date Provided

August 8, 2019
Dennis Hollier

CSS has retained Spenser Stuart – a talent vendor frequently used by Fannie – to conduct an executive search.


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HUD Sides With Lenders on Disparate-Impact Claims

August 8, 2019
George Brooks

In its analysis of the Fair Housing Act, the Supreme Court noted the importance of limiting disparate-impact liability so as not to hinder lenders…


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Short Takes: All Eyes on Stocks and Bonds / Fear the ‘Transition’ Tax? / A Fee, Not a Tax / Applications Finally Rise / A Small Profit at AAMC Because of a Stock Markup

August 7, 2019
Paul Muolo and Yemeng Yang

New mortgage applications increased 5.3% for the week ending August 2, according new figures released by the Mortgage Bankers Association. The refi share inched up to 53.9% of new business from 50.5% the week prior.


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More Bad News from Ocwen: Subservicing Clients Disappearing, $872M in Debt Coming Due

August 7, 2019
Paul Muolo

In a new 10-Q filing with the SEC, Ocwen disclosed roughly 40 “risk factors,” including “uncertainty” tied to litigation, cease and desist orders, investigations brought by government agencies and more…


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