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
Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB December 27, 2016 If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg. Read More
Share of Loans that Close on Time Increasing December 27, 2016 Brandon Ivey Other loan types also generally showed improved closing times.Read More
Treasury Department Officials: Obama Supports ‘Explicit’ Guaranty on a ‘Defined Class’ of MBS December 27, 2016 Carisa Chappell and Paul Muolo Some GSE observers believe an “implicit” guaranty is the same thing as an “explicit” one…Read More
Short Takes: Gone for Now: Really Low Rates and No Points / Tracking the Yield on the 10-Year / Why Home Price Gains May Taper Off / Nonbanks Get FHFA’s Approval December 27, 2016 Carisa Chappell and Paul Muolo “Home prices cannot rise faster than incomes and inflation indefinitely.” – David Blitzer, managing director of the index committee at S&P Dow Jones.Read More
Broker Market Share of Jumbo Production Slips in 3Q16 December 22, 2016 Brandon Ivey The retail channel accounted for 91.7 percent of Wells Fargo’s jumbo production during the first nine months of 2016…Read More