Agency Servicing Continued to Grow in 3Q17, Megabanks Show Little Interest October 19, 2017 John Bancroft The four megabanks reduced their agency mortgage servicing rights by $59.6 billion during the third quarter…Read More
Freddie Mac Pushes Back Against Criticism on Its Use of Equifax October 19, 2017 Brandon Ivey However, officials at Freddie said the claims regarding the GSE and Equifax lacked context.Read More
Mortgage Due Diligence Firms Open to Working Together to Standardize Reporting October 19, 2017 Brandon Ivey Each due diligence firm applies its own interpretation of compliance...Read More
Stearns Reorganizes a Bit, Cuts 159 Jobs in California, but Plans to Rehire in Texas; Seeks LOs October 19, 2017 Paul Muolo “We continue to be bullish on the business,” said Stearns CEO David Schneider.Read More
Ocwen’s Departure from the Wholesale Sparks Speculation: An Eventual Sale? October 19, 2017 Paul Muolo Ocwen’s recent barrage of regulatory settlements, coupled with the sale of the wholesale division and the recent hiring of investment banker Chris Whalen, is sparking talk...Read More
Short Takes: Princeton Mortgage Enters Wholesale Arena / Ocwen Settles with Lone Star State / Stipulations Regarding REALServicing / The Original Trademark / Angel Oak Hires Fund Manager October 19, 2017 Paul Muolo Ocwen settled with Texas regulators as well...Read More
Arch Continues Re-Insurance Transactions Started by UG; New Issuance the First to Receive a Rating October 18, 2017 Brandon Ivey Mortgages delivered to the GSEs with an unpaid principal balance of $29.30 billion are included in the transaction.Read More
Radian Discloses More Pain from Services Unit (Clayton); Tennyson is Out as President October 18, 2017 Paul Muolo The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.Read More
U.S. Bancorp Grows Residential Production by Almost 10 Percent October 18, 2017 Paul Muolo Compared to the same period a year ago, residential loan production declined by 19.6 percent...Read More
Short Takes: The Little Guy Gets a G-Fee Break / A Coming Spike in G-Fees? / More Financial Maneuvers by Radian / A Hot Streak for Non-Agency Prime MBS / A Stock Market Crash Warning from Treasury Secretary Mnuchin October 18, 2017 Paul Muolo and Brandon Ivey Might this suggest that g-fees charges could spike next year when zero hour comes?Read More