Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official June 26, 2018 Paul Muolo Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…Read More
Wells Fargo Cuts 100 Workers at South Carolina Location June 25, 2018 Paul Muolo Applications have picked up in April, May and June but firms that focused too heavily on refis are now feeling the heat.Read More
New York Fed: CFPB Oversight Doesn’t Reduce Mortgage Lending June 25, 2018 Yemeng Yang Fed researchers examined data before and after July 2011, when the CFPB began operation…Read More
Originator of Mortgages in Non-Agency MBS from Credit Suisse Purposefully Unidentified June 25, 2018 Brandon Ivey Presale reports for non-agency MBS backed by new originations typically identify lenders that account for at least 5.0 percent of the contributions…Read More
FHA Officials Raise Concerns about Rising DTI Ratios, Risk Layering June 25, 2018 John Bancroft At the same time, there has been an increase in the share of loans with downpayment assistance…Read More
Phoenix Capital Selling $1.2B of GSE MSRs June 25, 2018 Paul Muolo The seller of the bulk package is a depository that lends heavily in the South…Read More
Short Takes: A Shift on GSE Thinking? / loanDepot Resumes / Job Cuts at Finance of America / Product Update from Arch / A New Mortgage Hire for BBVA June 25, 2018 Paul Muolo In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.Read More
As Ginnie’s Book of Business Grows Even Larger, Agency Moves to Ensure Issuer Liquidity June 22, 2018 George Brooks The possibility of issuer failure is a continuing concern at Ginnie Mae…Read More
Securitization Rate Holds Steady in Early 2018, but GSEs Lost Market Share June 22, 2018 John Bancroft Mortgage lenders started diverting high-balance GSE-eligible loans into non-agency MBS last year…Read More
New York Judge Rules CFPB’s Structure Unconstitutional June 22, 2018 Yemeng Yang The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.Read More
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