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MBA: Net Origination Profit Plunged 68 Percent in 4Q16

March 21, 2017
Paul Muolo
MBA noted that including all business lines, 73 percent of the mortgage companies posted pre-tax profits for the fourth quarter, down from 94 percent in 3Q16…
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USDA Securitization Rose in 2016; Chase Led the Sector, but…

March 21, 2017
George Brooks
Although JPMorgan/Chase was the market leader, it is now mostly out of the sector…
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IMF Poll: Lenders Will Liberalize Underwriting Standards – but Not by Much

March 21, 2017
Paul Muolo
Some 14 percent of respondents said they might begin making non-qualified mortgages over the coming months.
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Short Takes: Coming Soon: Falling Interest Rates? / Walter Gets Smacked Down Again / Embrace Sends its Top LOs to Boca / CoreLogic’s $5 Million Man (Rounded) / A New Hire for Silver Hill

March 21, 2017
Paul Muolo
All totaled, the new CoreLogic chief could earn almost $5 million...
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Wholesale-Broker Channel Saw Big Gains in Agency Market Last Year

March 20, 2017
John Bancroft
Mortgage brokers earned their biggest market share in the Ginnie Mae sector…
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DOJ Filing Reveals Trump Wants to Keep the CFPB, but with a ‘Removable’ Director

March 20, 2017
Thomas Ressler
Attorneys with the Ballard Spahr law firm noted that, “If the DOJ gets its way, the CFPB would remain intact with a director that President Trump can replace at any time.”
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Bayview Packages Thousands of Vintage ‘Daily Simple Interest’ Mortgages into Non-Agency MBS

March 20, 2017
Brandon Ivey
Bayview issued two similar MBS last year, totaling $467.18 million…
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Serial Rapid Refinancing on VA Loans Continues. Is There a Cure?

March 20, 2017
George Brooks
MBA’s Pete Mills noted there are a handful of lenders and brokers that specialize in quick-turn refis…
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Prestwick Selling $335 Million of Fannie Mae Servicing Rights

March 20, 2017
Paul Muolo
A small portion of the loans are characterized as non-owner occupied…
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Short Takes: Walter Retains M&A Advisor Houlihan Lokey / A Penny Stock / $902 Million of Losses / Rebranding for MountainView / Ocwen Shuffles its Board

March 20, 2017
Paul Muolo
Over the past three years, Walter Investment Management has lost a whopping $902 million...
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