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Short Takes: Trade Groups Take Aim at HUD IG Report on Nonbanks / A Pejorative Phrase for Lenders? / CFPB’s Cordray Continues to Master the Phrase ‘No Comment’ / A Gain for PRMG

September 27, 2017
Paul Muolo and Thomas Ressler
In the past, some in the mainstream media have referred to nonbank mortgage lenders as “shadow” lenders, a phrase that residential finance professionals find pejorative…
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Bank Retail Production Up in 2Q17, Sales Down

September 27, 2017
John Bancroft
Residential loan sales by banks totaled $151.79 billion in the second quarter, down 7.3 percent from the previous period.
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Mortgage Brokers Face Uphill Challenge in Jumbo Market

September 26, 2017
John Bancroft
MUFG Union Bank was the top wholesale lender in the jumbo market by a wide margin.
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HUD IG Throws Nonbanks Overboard in New Audit, Blames Ginnie for Inadequate Supervision

September 26, 2017
Paul Muolo
Ginnie Mae took umbrage at the IG’s findings, saying it was aware of the market share shift to nonbanks in 2012 and was already taking action…
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In Hurricane-Ravaged Areas, Ginnie Loosens Buyout Guidelines for Problem Loans

September 26, 2017
Paul Muolo
The new Ginnie Mae buyout authority expires March 31 of next year…
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Redwood Quickens Pace of Jumbo MBS Issuance; Deal Volume Doubles

September 26, 2017
Brandon Ivey
Kroll Bond Rating Agency assigned AAA ratings to the deal.
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Short Takes: Hurricane-Damaged MSR Deals? / FHA MF and Warehouse Lender Files to go Public / MBA Hires a Legend (Named Legend) / Nationstar Issues HECM Backed by ‘Inactive’ Collateral / Don’t Pass the Hat for Equifax’s Newly Departed CEO

September 26, 2017
Brandon Ivey and Paul Muolo
The Mortgage Bankers Association is projecting that more than 4,600 residential finance professionals will attend its annual convention in Denver next month.
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The Game Continues: CFPB’s Cordray Sounds Like a Politician to Some, but Others Doubt He Will Run

September 25, 2017
Thomas Ressler
To some, CFPB Director Richard Cordray does not sound like a candidate…
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As GSE ‘Zero Capital Day’ Approaches, Hurricane Damage Looms Large?

September 25, 2017
Paul Muolo
FHFA Director Mel Watt is concerned about zero capital, but has not yet given any public indication he will do something about it...
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GSE Seller Buybacks Edged Higher in 2Q17, but YOY…

September 25, 2017
John Bancroft
All of the uptick in seller buybacks came from Fannie, where repurchases surged 21.5 percent from the first to the second quarter.
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