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PHH Will Pay $45 Million to Settle State Servicing Allegations

January 3, 2018
Paul Muolo
PHH Mortgage is in the process of transforming into a subservicing specialist.
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Short Takes: Morgan Stanley and PHH? / Share Price? / Subservicing Rules the Roost / Embrace Hires Legal Affairs Chief / A Name Change for Mortgage Lending Services

January 3, 2018
Paul Muolo
At Sept. 30, 2017, PHH had a total servicing portfolio (including subservicing contracts) of $162.7 billion...
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New Wholesale Non-QM Lender Altloan Promises to be a ‘Disruptor’

January 2, 2018
Brandon Ivey
Looks like Angel Oak, Caliber and Citadel Servicing Corp. are about to get some competition in the non-QM sector…
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First California Mortgage Still Operating?

January 2, 2018
Paul Muolo
FCM is headed by Chris Hart, who is also a member of Fannie Mae’s western region advisory board.
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No Court Ruling Yet in CFPB’s English v. Mulvaney

January 2, 2018
Thomas Ressler
Meanwhile, the U.S. Chamber of Commerce asked the court for permission to file an amicus brief supporting the DOJ…
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Short Takes: Pickup Picks Up the Pace on Impac Buys / Buy Low, if You Can Get It / Stolen GSE Money? / No Longer ‘Distressed’ / New AI Chief Starts his Term

January 2, 2018
Paul Muolo
Richard Pickup, a real estate investor by trade, owns more than 10 percent of Impac…
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The Story (So Far) on Non-QM MBS: Few Losses, Some Delinquencies; Investors Pleased…

December 29, 2017
Brandon Ivey
A $150.4 million deal from Angel Oak Capital Advisors issued in December 2015 had a cumulative net loss of just 0.02 percent…
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A Gain for Correspondents in Jumbo Market Share

December 29, 2017
Brandon Ivey
Wells Fargo and JPMorgan Chase are the two dominant lenders in the jumbo market but their channel preferences have diverged over the past year…
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MBS Analysis: Looks Like the GSEs are Taking Market Share from FHA

December 29, 2017
Carisa Chappell
Wells Fargo, Quicken, and United Wholesale Mortgage are the top three firms originating these low-downpayment loans…
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Want to Buy Mortgage Servicing Rights? You’d Better Have a License

December 29, 2017
Brandon Ivey
“If the state requires it, then the GSEs would require it, and could use their remedies in connection with any failure to do so,” said one attorney…
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