Short Takes: The FCA and VA Loans? / CFPB to Zillow: You’d Better Settle / Some Details on JPM’s New Non-Agency MBS / Buying a Home Without Ever Seeing It / Altisource Hires Nomura Executive August 9, 2017 Brandon Ivey, Paul Muolo, Sherry Muolo, and Thomas Ressler Morningstar said the ratings were discontinued due to a request from Ocwen...Read More
PHH Enters Into Settlements with DOJ, FHFA to Settle Underwriting Issues Tied to Legacy Loans August 8, 2017 Paul Muolo PHH said it settled the cases without admitting liability “to avoid the distraction and expense of potential litigation.”Read More
Loans in New ‘Nonprime’ MBS Look like ‘Alt A’ Loans Really August 8, 2017 Brandon Ivey In fact, some of the underwriting characteristics on new nonprime loans are even stronger than the credit quality on pre-crisis Alt A mortgages…Read More
Trade Groups Call on CFPB to Address the GSE ‘Patch’ One Way or Another August 8, 2017 Thomas Ressler The Consumer Mortgage Coalition and MBA separately recommend replacing the GSE patch with a more transparent set of criteria…Read More
Movement Mortgage CEO Rebrands His New Bank as, You Guessed It, Movement Bank August 8, 2017 Paul Muolo According to Casey Crawford the recapitalized depository will focus on “loving and serving people.”Read More
Utah-Based Nonbank Nixes Purchase of Ron McCord’s FMC After Lawsuit is Filed August 8, 2017 Paul Muolo Among other things, CapLoc – an affiliate of Eli Global – charges that FMC pledged “ineligible” mortgages as collateral…Read More
Short Takes: CapLoc Affiliate Wanted to Buy FMC / Two Sides to a Story / MBS is Busy with M&A Deals / FRB Distinguishes Itself in Jumbo Market / Vendor Watch August 8, 2017 Brandon Ivey, Paul Muolo, and Thomas Ressler Advisory firm Mortgage Banking Solutions, Austin, TX, is working on three mortgage-related acquisitions...Read More
Jumbo Originations Up in 2Q17 as Banks Report Strong Demand August 7, 2017 Brandon Ivey Lee Smith, an executive vice president and COO at Flagstar, said the bank’s jumbo originations were bolstered by the acquisition of Opes Advisors…Read More
House Republicans Push Another Contempt Case Against CFPB’s Cordray August 7, 2017 Thomas Ressler The GOP legal analysis asserts that Cordray failed to satisfy subpoenas the committee issued for agency records…Read More
Trader Joe’s a Beacon for Homebuyers? August 7, 2017 Sherry Muolo Homes located near a Trader Joe’s location had an average 5-year appreciation of 67 percent…Read More
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