S&P: Residential Servicers Can Anticipate Vigorous Regulation to Continue August 31, 2017 Thomas Ressler Even if the feds ease up on regulation, the states will continue to be vigorous…Read More
Short Takes: Navy Federal Would Like to Purchase Servicing Rights / An MSR Offering from Prestwick / Fed Okays Sterling’s Purchase of Astoria / A Clarification / New Hires for Castle & Cooke August 31, 2017 John Bancroft and Paul Muolo The Fed just greenlighted a bank M&A deal...Read More
MBA: Production Profits Soared in 2Q17 – Thanks to a Reduction in Expenses August 30, 2017 Paul Muolo Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225…Read More
Errors in Moody’s Database Prompt Reassessment of Ratings on Nearly 1,000 Pre-Crisis Non-Agency MBS August 30, 2017 Brandon Ivey Problems regarding the ratings of IO tranches of pre-crisis non-agency MBS emerged in June of this year...Read More
Eli Global Wants to be a Player in Mortgages, but Who Are These Guys? August 30, 2017 Paul Muolo Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.” Read More
GSE Single-Family MBS Business Edged Higher in July August 30, 2017 John Bancroft In July, the top five GSE loan sellers were Wells Fargo, Chase, Quicken, PennyMac and AmeriHome Mortgage…Read More
HUD Quadruples the Upfront Reverse Mortgage Premium. NRMLA Not Happy August 30, 2017 Paul Muolo NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”Read More
Mortgage Applications Take a Late Summer Vacation August 30, 2017 Sherry Muolo The refi share of new applications continues to rise…Read More
Short Takes: Richard Cordray, Still on the Job / Coming Soon: 2Q17 Warehouse Ranking / New Bank Statement Loan Takes Off / Berkshire Now BofA’s Largest Shareholder / A New Hire for Falcon August 30, 2017 Brandon Ivey and Paul Muolo Earlier this month, nonprime lender Citadel Servicing Corp., Irvine, CA, launched a one-month bank-statement program for self-employed borrowers.Read More
A One-Year Moratorium on Mortgage Payments in Hurricane-Ravaged Counties? August 29, 2017 Paul Muolo Cowen & Co. predicts that storm damage caused by the hurricane could “encourage” lender consolidation…Read More
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