RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges August 15, 2018 Paul Muolo Among those subprime MBS investors: Fannie Mae and Freddie Mac.Read More
Moody’s Gives loanDepot an ‘Average’ Assessment August 15, 2018 Brandon Ivey This spring, loanDepot was rumored to be a takeover target of Internet retailer Amazon.com…Read More
The Fannie Mae Mystery Executive in the Heavily Redacted FHFA IG Report: CEO Timothy Mayopoulos August 15, 2018 Carisa Chappell On July 23rd, Fannie announced Mayopoulos would depart as CEO before yearend. The heavily redacted FHFA IG report is dated July 26. Read More
Quicken Loses Large Broker Partner, Blames BRAWL, UWM and its CEO August 15, 2018 Paul Muolo CEO Mat Ishbia: “We are not sure why Quicken Loans has decided to bring UWM into this situation."Read More
Surprise: Quicken Rolls Out Private Sector Reverse Mortgage August 15, 2018 George Brooks Funding for Quicken's new reverse mortgage will come from securitization… Read More
Short Takes: Who Needs the GSEs? / JPM’s Strategy / Subservicers on the Auction Block? / New Diligence Advisors Gets the Seal of Approval from KBRA / Atlantic Bay Mortgage Won’t be Buying VA Bank After All August 15, 2018 Paul Muolo We know of one large subservicer that’s for sale (Ditech Financial), but a second processor may also be considering offers.Read More
Expanded-Credit Mortgage Securitization Falters Ever So Slightly in 2Q18 August 14, 2018 John Bancroft The biggest increase has been in the new breed of Alt A securities…Read More
VA Doesn’t Like Bill that Would Increase Costs on Vet Home Loans August 14, 2018 George Brooks Both the VA and residential originators believe the fee increase would be used to cover expanded health-care benefits…Read More
Cowen Sees Political Turmoil Whipsawing the Financial Services Landscape. Servicers Should Brace for Action August 14, 2018 Yemeng Yang Cowen: “We would expect enforcement to return with Democratic control and wane with GOP control.”Read More
Short Takes: GSE Nonprime Holdings Keep Shrinking / However… / Production Remains Strong at UWM / LendingTree’s Share Price: Down, Down, Down / Lenders One Promotes Kuentz to CEO August 14, 2018 John Bancroft and Paul Muolo Fannie and Freddie stopped acquiring nonprime mortgages during the financial crisis, but they haven’t completely avoided the loans... Read More
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