Short Takes: A Host of Approvals Needed on PHH Deal / A $10 Million Termination Fee / Sell and Subservice / And the Ginnies Go To… / New Hire for Gateway Mortgage December 29, 2016 Paul Muolo New Residential is entitled to a $10 million termination fee if the sale falls apart...Read More
When it Comes to Jumbo Lending, Retail Channel Dominates, By Far December 29, 2016 John Bancroft Wells Fargo, for example, reported that 90.7 percent of its third-quarter jumbo originations came through the retail channel…Read More
Mortgage Insurance Stocks Have Been on a Tear of Late. Can it Last? December 29, 2016 Paul Muolo Rising interest rates are good for MI stocks because it translates into greater “persistency…”Read More
Both Sides of Mortgage Banking Posted Significant Profit Gains in 3Q16 December 28, 2016 John Bancroft JPMorgan Chase was the only firm that saw a decline in production-related revenue during the third quarter…Read More
FHFA IG Notes Lack of Transparency in CSP Costs December 28, 2016 Carisa Chappell Instead, the FHFA only disclosed specific CSP cost data once – in a September 2015 status report…Read More
Mortgage Investor’s Lawsuit Against JPM Regarding National Servicing Settlement and HAMP Dismissed December 28, 2016 Brandon Ivey The claims relating to the servicing settlement were dismissed with prejudice, which means Schneider cannot bring them again. Read More
2019: A $3 Trillion Year for Originations? December 28, 2016 Paul Muolo This year, fundings could reach upwards of $2.00 trillion based on activity through the first nine months of the year.Read More
Short Takes: Okay, Maybe Trump Can Fire Cordray / Relying on the DOJ’s Office of Legal Counsel / It all Started with PHH / New Turf for WVA Brokerage Firm / Distressed Mortgage Deal December 28, 2016 Brandon Ivey and Paul Muolo The Mortgage Center, a West Virginia-based loan brokerage firm managed by Marc Savitt, plans to open new offices in Florida and New Mexico early next year…Read More
Is it the End of an Era for GSE Loan Buybacks? December 27, 2016 John Bancroft Excluding legacy-related buybacks, total GSE seller repurchases would have been down 9.9 percent…Read More
DB and Credit Suisse Settle Legacy MBS Cases with DOJ; Barclays Faces New Lawsuit December 27, 2016 Brandon Ivey Subprime MBS cases continue to haunt Wall Street…Read More