Fitch Assigns Subprime Servicer Rating to Citadel. Could a ‘Rated’ Nonprime MBS Deal be Next? December 21, 2016 Brandon Ivey The company doesn’t outsource or offshore any of its servicing activities.Read More
New Home-Equity Lender Could Fund $450 Million in 2017; Seeks to Hire LOs December 21, 2016 Paul Muolo Shellpoint owns part of Spring EQ and both firms have common owners.Read More
Short Takes: NAR Warns House Speaker Ryan Not to Mess with Housing / The Ramifications of Making Changes to the Tax Code / Miami Under Water and Not in Terms of Home Equity / RPM in the Hunt? / Seniors and Home Equity December 21, 2016 Paul Muolo A new report from ATOM Data Solutions says concerns about rising sea levels “remain a rarity among most South Florida homeowners and investors"...Read More
Interest-Only Originations Falter (For Some) in 3Q16 December 20, 2016 Brandon Ivey After PHH Mortgage, the other top IO producers in 3Q16 were JPMorgan Chase, First Republic Bank, MUFG Union Bank, and Citibank. Read More
AMC Dominates Third-Party Due Diligence Completed on Non-Agency MBS December 20, 2016 Brandon Ivey Fitch said AMC’s market share of due diligence on non-agency MBS was boosted by the acquisition of JCIII & Associates a year ago.Read More
Ginnie Mae President Ted Tozer Set to Leave Jan. 20, but Would Like to Remain as a Consultant (For a While) December 20, 2016 Paul Muolo Since the election, Tozer has met with the Trump Department of Housing and Urban Development “landing team” once, for a 90 minute meeting that included Shawn Krause… Read More
The NYCB-Astoria Financial Merger is Kaput December 20, 2016 Brandon Ivey Consumer advocates were among the groups that opposed NYCB’s acquisition of Astoria…Read More
New Penn CEO Jerry Schiano Launches ‘Home Equity’ Lender Targeting the ‘Underserved’ December 20, 2016 Paul Muolo The startup is emphasizing its “user-friendly digital” loan process…Read More
Short Takes: MSR Markups Could be Off the Charts / Good News for Ocwen, Nationstar, PHH, Others… / Habib on Rates / Greystone’s Freddie MF Loan / Selene Unveils Staff Changes December 20, 2016 Paul Muolo Barry Habib of MBS Highway told us the Dow will hit 20,000 and then around mid-January stocks will pull back but “not crash.” Read More
Fear and Loathing for FHA, VA Stakeholders? December 19, 2016 George Brooks The big question is whether FHA, given the much-improved health of the Mutual Mortgage Insurance Fund, will move to lower premiums again…Read More