CMG Mortgage Expands in the Northeast, Assumes 14 RPM Branches January 7, 2019 Paul Muolo RPM CEO Rob Hirt was good-natured about the departures: “I wish CMG continued success into 2019…”Read More
Democrats on the HFSC Seek FHA Loans for DACA Recipients January 7, 2019 George Brooks Although HUD has voiced its opinion on the eligibility of DACA recipients informally, no official, definitive pronouncement has been issued – to the consternation of lenders.Read More
Short Takes: IRS Cranks Up the IVES Machine Again / Otting at FHFA, Day 1 / AltLoan Enlists a New Capital Markets Partner / 45 Percent Plan to Enter the Non-QM Space This Year / Academy LO Joins Bay Equity Home Loans January 7, 2019 Brandon Ivey and Paul Muolo Roughly 45 percent of respondents said they definitely will enter the the Non-QM market this year.Read More
Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client January 4, 2019 Paul Muolo Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.Read More
A New Year and a New MBS from Redwood Trust January 4, 2019 Brandon Ivey Servicing will be handled by six different firms with Shellpoint Mortgage Servicing getting a large chunk of the contract…Read More
MBS/ABS Market Ends Year with Lackluster Production. Weakest Reading in Five Years January 4, 2019 John Bancroft The biggest reason for the slump: the decline in single-family MBS production by Fannie, Freddie and Ginnie…Read More
Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client January 4, 2019 Paul Muolo Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.Read More
Government Shutdown has Little Effect on FHA/VA Loan Programs (So Far) January 4, 2019 George Brooks No disasters have been reported yet, but some lenders are beginning to worry...Read More
What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director January 4, 2019 Paul Muolo One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus... Read More
A Not-So-Pretty 4Q18 for GSE MBS Issuance January 3, 2019 John Bancroft Fannie and Freddie continued to see a slippage in the purchase market…Read More
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