Merrill Lynch Faulted by SEC for Non-Agency MBS Trading Practices from 2009 through 2012 June 13, 2018 Brandon Ivey In settling with the SEC, Merrill Lynch did not admit or deny the findings…Read More
THL Closes on Investment in Guaranteed Rate. Nonbank Anticipates Record Production This Year June 13, 2018 Paul Muolo Despite heralding the investment made by Thomas H. Lee Partners, Guaranteed Rate will not say how much the PE firm invested or how large of a stake it acquired…Read More
When the Going Gets Tough, the Tough Cut LO Pay June 13, 2018 Paul Muolo Aggressive nonbank lenders are willing to offer 100 to 200 basis points per loan…Read More
CFPB to Tailor Enforcement Based on Scale and Intent of Violations June 13, 2018 Yemeng Yang Mick Mulvaney: “If you are doing something less than one-tenth of 1 percent of the time, maybe it’s evidence of a lack of criminal intent…”Read More
MBS Business Up Modestly, but GSE Credit Box Unchanged June 13, 2018 John Bancroft In the first quarter, average credit scores on purchase mortgages were virtually unchanged…Read More
Sierra Pacific Hires Ex-Stearns, Ex-Wells Executive Goulding June 12, 2018 Paul Muolo A 34-year veteran of the home lending industry, Goulding also worked for Wells Fargo Home Mortgage…Read More
Short Takes: No Relief in Sight for GSE Common / Pershing Square in a World of (GSE) Hurt? / JMP Likes Impac / Consumer Data Collection Returns to the CFPB / Plaza Home Promotes Fontaine June 12, 2018 Paul Muolo and Yemeng Yang JMP likes the higher profit margins that accompany non-QM lending…Read More
Lenders Pessimistic About Profit Margins for 3Q18, Cuts to Staff Expected June 12, 2018 Brandon Ivey Fannie Mae: “We expect this will prompt businesses to turn to cost-cutting..."Read More
FHFA Proposes Minimum Capital Requirements for Fannie and Freddie. An RBC ‘Bill’ of $181 Billion June 12, 2018 Paul Muolo By comparison, commercial banks must have tier 1 capital of 8.0 percent of risk-weighted assets. Read More
Retail Channel Gained Share in Some Markets June 12, 2018 John Bancroft Mortgage brokers actually gained some share in the government market…Read More