Short Takes: Fix-and-Flip Lender Ready to Employ Loan Brokers / Habib Says Rates Will Head Higher / Megabanks Looking at Nonprime Whole Loan Buys? / The Consumer Law Enforcement Agency? / Ditech’s MSR Reduction April 20, 2017 Paul Muolo We understand that some surprising names are beginning to show up at auctions for nonprime, non-agency whole loans... Read More
The Final Tally on FHA Legal Settlements for 2016: $454 Million April 19, 2017 George Brooks The largest civil money penalty imposed by the board was $604,000 as part of a settlement with Ocwen Loan Servicing...Read More
Incenter Selling GSE/Ginnie Servicing Package April 19, 2017 Paul Muolo On a loan count basis, Michigan represents the largest chunk of the portfolio at 37.1 percent.Read More
Ocwen Prepares for MSR Acquisition Restrictions to be Lifted, but No Specific Deals are in the Works April 19, 2017 Brandon Ivey Moody’s believes servicing acquisitions by Ocwen will be limited by franchise uncertainty, capital constraints and a highly competitive market…Read More
Impac Mortgage on the Hunt for M&A Deals and Non-QM, Raises $56 Million April 19, 2017 Paul Muolo On Impac’s wish list: buy others, grow servicing and make more non-QM loans…Read More
Underwriting Standards for Jumbo MBS Return to Norm in 1Q17 April 19, 2017 Brandon Ivey Average DTI ratios on prime non-agency MBS range from 30.0 percent to 33.0 percent in any given quarter.Read More
Short Takes: A Production Decline for USB / Mortgage Bankers Killing Their Share of Trees? / Citadel About to Hit a Milestone / Freddie Readies CRT Deal / StoneHill Hires Former Fannie Mae Official April 19, 2017 Brandon Ivey and Paul Muolo A reason to go digital? According to one study, the mortgage market consumes almost 2.2 billion sheets of paper annually, which is equivalent to more than 260,000 trees...Read More
A Hopeful Sign for a Market in Revival: Nonprime MBS Issuance Up 23 Percent in 1Q17 April 18, 2017 Brandon Ivey While the market for nonprime MBS was relatively strong during the first quarter, Moody’s said some investors have shied away from the sector.Read More
Ginnie Mae Officials Attribute Decline in VA Refis to Anti-Churning Policy April 18, 2017 George Brooks John Getchis, senior vice president at Ginnie Mae, said he does not think the churning trend will continue…Read More
New Residential to Package Seasoned Mortgages from Clean-Up Calls into $665 Million Non-Agency MBS April 18, 2017 Brandon Ivey Nationstar is handling the servicing chores on most of the loans, with Ocwen Financial taking a 2.60 percent share.Read More