New Residential Readies Additional Offering of Stock. MSRs on the Shopping List? November 1, 2018 Paul Muolo According to Inside Mortgage Finance, New Residential ranks fifth among all residential servicers with a $384.0 billion portfolio at Sept. 30.Read More
Second-Tier Servicers Continued to Gain Market Share in 3Q18 November 1, 2018 John Bancroft Meanwhile, the group of servicers ranked sixth through 25th had a combined increase of $119.9 billion from June 30…Read More
First Pacific Advisors Discloses a 30.9 Percent Stake in Ditech November 1, 2018 Paul Muolo First Pacific is an institutional money management firm...Read More
Short Takes: Should the GSEs Increase Servicing Compensation? / Hanging with Mr. Cooper at No. 3 / PennyMac’s Amended Repo Line / Strong Underwriting Income for Arch, KBW Likes Radian November 1, 2018 Paul Muolo David Fleig of MorVest: “We have numerous active conversations with clients thinking about selling MSRs and I am sure our competitors do as well.” Read More
Freddie Earned $2.7 Billion (Net) in 3Q18. Treasury Will Get $2.6 Billion October 31, 2018 Paul Muolo Freddie said it expects to make the $2.6 billion dividend payment in December.Read More
Nonbanks Kept Growing Origination Share in 3Q18 October 31, 2018 John Bancroft Year-over-year, United Wholesale Mortgage had the largest gain at 52.2 percent, based on originations through the first nine months of 2018.Read More
States Criticize the CFPB’s Plan for a Trial Disclosure ‘Sandbox’ October 31, 2018 The current policy, issued in 2013, says the bureau will not approve a trial disclosure that weakens consumer understanding of valuable information, even if it improves cost effectiveness.Read More
MIAC, Phoenix Capital Out with New MSR Offerings October 31, 2018 Paul Muolo According to the offering circular, the portfolio is top-heavy with Ginnie product... Read More
Short Takes: Judging Risks and Rewards at Freddie / The Gift that Keeps on Giving: The Trump Tax Cut / Despite Some Losses, Mortgage Bankers Remain Liquid / An Earnings Decline at Radian / Leaving Wells Fargo for a Nonbank October 31, 2018 Carisa Chappell and Paul Muolo Freddie Mac benefited to the tune of $200 million (pre-tax) by reducing the write-down on its net deferred tax asset...Read More
Freddie’s Layton: GSE CRT Economics Sometimes Misunderstood October 31, 2018 Carisa Chappell Freddie CEO Don Layton said the CRT deals are “amazingly efficient…”Read More