Non-Agency MBS Issuance Weakened in 3Q17 Despite Upswing in Prime Jumbo Deals October 13, 2017 John Bancroft The bright spot was the prime jumbo MBS market where some $2.97 billion of new bonds were issued during the third quarter…Read More
A Modest Uptick in Home Lending for Wells Fargo in 3Q17; Meanwhile, a $1 Billion Legal Charge for Mortgage Investigations October 13, 2017 Paul Muolo Gain-on-sale profits came to 124 basis points, flat from the prior period, and the weakest reading of the past five quarters...Read More
A (Slight) Drop in Originations at BofA for 3Q17 October 13, 2017 Paul Muolo Home equity lending fell even more at BofA: down 12.7 percent from the prior period...Read More
HUD Secretary Ben Carson Tells Panel Agency is Working to ‘Resolve’ Use of the False Claims Act October 12, 2017 Paul Muolo “I’m not sure why there’s been such an escalation of it [the FCA],” said Carson.Read More
Ocwen Settles Servicing Disputes with Two More States October 12, 2017 Thomas Ressler In all of these agreements, Ocwen neither admitted nor denied liability…Read More
KBW: Don’t Expect Much Improvement from Gain-on-Sale October 12, 2017 Paul Muolo “We estimate that gain-on-sale margins will be roughly flat quarter to quarter,” writes KBW analyst Bose George…Read More
Short Takes: Residential Production Plunges at Citi / MSR Holdings Down Too / But a Nice Profit for 3Q17 / JPMorgan Readies New Non-Agency MBS / Ocwen Exiting Wholesale Channel / Fannie Announces New NPL Auctions October 12, 2017 Paul Muolo and Brandon Ivey Citi’s third-party servicing portfolio is down to $49.1 billion from $147.6 billion at Sept. 30, 2016...Read More
JPM Grows Residential Lending by Almost 13 Percent in 3Q17, Keeps Adding to Whole-Loan Portfolio October 12, 2017 Paul Muolo Total mortgage banking revenue for the period came in at $1.56 billion compared to $1.43 billion in 2Q17...Read More
GSEs Continue Adapting Seller Requirements to Conform with HMDA Changes October 12, 2017 Thomas Ressler Fannie and Freddie continue to tweak their systems and processes to accommodate the new mandates, which kick in January 1…Read More
Private MI Business Kept Growing in 3Q17, FHA Activity Lagged October 12, 2017 John Bancroft Fannie and Freddie saw a 26.7 percent jump in insured first-timer loans…Read More
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