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FHA/VA Delinquencies Continue Climbing in 3Q17 While Servicing Grows

October 30, 2017
John Bancroft
Some 6.03 percent of FHA loans were 30-to-60 days past due as of the end of the third quarter, up from 4.51 percent in June.
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FHFA Adds Language-Preference Question to New Loan Application Despite Industry Opposition

October 30, 2017
Carisa Chappell
The wording of the language-preference question first tells borrowers that their loan transaction is likely to be conducted in English but gives them the option of selecting one of six languages: English, Chinese, Korean, Spanish, Tagalog, and Vietnamese…
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Sharp Differences in Denial Rates for Jumbos; Some Nonbanks Have Turn-Downs North of 40 Percent

October 30, 2017
Brandon Ivey
In 2016, the overall denial rate for applications for jumbo mortgages was 18.6 percent.
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What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

October 27, 2017
Paul Muolo
But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...
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Fannie, Freddie Credit-Risk Transfer Deals Slowed in Third Quarter

October 27, 2017
John Bancroft
CRT deals may be popular with legislators since they “de-risk” Fannie and Freddie, but over the long haul the transactions reduce profits for the GSEs, or so critics have charged…
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CFPB Will Rely on Tech Tools for Regulatory Oversight

October 27, 2017
Thomas Ressler
The CFPB plans to develop and maintain technology solutions for coordinating supervisory information...
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An Earnings Decline for MSR-Hungry New Residential; Servicing Portfolio Drops as Well

October 27, 2017
Paul Muolo
During 3Q, New Residential agreed to buy $3 billion of “flow” servicing rights from an unnamed seller.
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Momentum Building for Housing-Finance Reform? Yes, No, Maybe?

October 27, 2017
Brandon Ivey
Joshua Rosner, managing director of Graham Fisher & Co., said his discussions with Trump officials and members of Congress suggest that the administration’s reform principles won’t be released until early next year…
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Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch and Dent’ Loans

October 27, 2017
With just over 4.5 million mortgage borrowers potentially affected by hurricanes Harvey and Irma, a secondary market is beginning to develop for mortgages that were originated and closed prior to the storm – but had not yet been placed into a security. According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines. But the mortgages cannot be securitized until the property (if damaged) can be brought up to code and re-inspected ...
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Short Takes: Ocwen Sale Could Spell Trouble for Indian Workers / Tepid Mortgage Results for Ally / From GMAC to Ocwen to Nationstar / 3Q Results from Radian, Altisource / No Thanks, Mr. Mnuchin

October 26, 2017
Paul Muolo and Carisa Chappell
Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.
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