What We’re Hearing: Talk of a GSE Legal Settlement? / Using Consent Decrees / Goldman’s New Prime Non-Agency MBS / Fannie Exec Departs for Industry Vendor October 18, 2019 Paul Muolo In a report released Friday morning, Cowen Washington Research Group analyst Jaret Seiberg noted that banking regulators have been using consent decrees for years. “Such orders also tend to include conduct restrictions on the banks,” he said…Read More
Top Bulk MSR Seller in 3Q19? A Battle Between Two Michigan-Based Mortgage Giants October 18, 2019 John Bancroft and Paul Muolo loanDepot was also an active seller of bulk MSRs in the third quarter, according to an exclusive tally from Inside Mortgage Trends… Read More
CFPB Hopes to Modernize Regulations. Mortgages on its ‘To Do’ List October 18, 2019 Yemeng Yang Richard Gottlieb, a partner at Manatt, Phelps & Phillips, called the task force development huge. Read More
Ginnie Mae Has No President at All. Is That a Problem? October 18, 2019 Paul Muolo Maren Kasper graciously lauded the career staff of Ginnie, telling investors the agency is in good hands… Read More
Invictus Capital Partners to Issue Large Expanded-Credit MBS October 18, 2019 Brandon Ivey The planned $681.0 million issuance will top a $609.2 million deal Invictus issued in May. Read More
Short Takes: Ginnie’s Kasper Takes Her Bow / Discovering Japan? (Appleton) / Better Times at Better.com (And a New Hire) / DocMagic Launches Mobile App / Exec Departs Caliber for Flagstar October 17, 2019 Paul Muolo Mortgage “fintech” specialist Better.com is hitting the ball out of the park these days on originations. Better is based in New York...Read More
VA Completes a Gargantuan Task: $400M in Refunds Over Two Decades October 17, 2019 George Brooks Some of the improper fee charges were blamed on clerical errors…Read More
Quicken Has Big Plans for QLMS Unit. Firm Looks to Hire 250 October 17, 2019 Paul Muolo Quicken said QLMS increased its volume of closed loans 240% from the third quarter of last year to 3Q19…Read More
Wow: Nonbank Share of Agency Servicing Market Tops 47% October 17, 2019 John Bancroft Fun fact: Over the past five years, the nonbank share of the agency servicing market has almost doubled and now stands at 47.2%...Read More
FHFA Chief Suggests an Early End to the Conservatorships October 17, 2019 Dennis Hollier Believe it or not, the two mortgage giants are much closer to getting out from under the FHFA’s thumb than most observers expect… Read More
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