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HUD Sets Conditions for Lower Occupancy Rates on Condos

October 27, 2016
George Brooks
HUD has eased condo requirements, effective immediately. Lenders and Realtors start your engines…
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Arch MI Unit Has Blowout Quarter, Underwriting Income Up 119 Percent

October 27, 2016
Paul Muolo
This past summer, Arch agreed to buy United Guaranty, the market leader in the MI space.
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Short Takes: Will Ocwen See $60 a Share Again? / Challenges Remain / Ocwen’s Shrinking Employee Base / LPMI Competition Reduced? / Alterra Hires Former Prospect Executive Murray

October 27, 2016
Brandon Ivey and Paul Muolo
Ocwen had an average of 7,484 employees in the third quarter of 2016, down 12.3 percent from 3Q15...
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Genworth’s MI Division Could See Boost in Ratings as a Result of Firm’s Sale to Chinese Financial Conglomerate

October 27, 2016
An agreement by a Chinese international financial holding group to acquire Genworth Financial for approximately $2.7 billion, or $5.43 per share, would give China a foothold in the U.S. mortgage insurance market. Announced on Oct. 23 by Genworth, the sale follows the planned sale of market leader United Guaranty to Arch Capital Group, a global provider of mortgage insurance and reinsurance based in Bermuda. The entire Genworth family of companies, including the MI division, is...
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Missing in Action: Mortgage Banking M&A

October 26, 2016
Paul Muolo
There has yet to be a “large” mortgage M&A deal announced this year other than the pending sale of EverBank to TIAA.
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Lenders Press the CFPB to Continue Its ‘Diagnostic’ Approach

October 26, 2016
Thomas Ressler
The ICBA noted that community banks have invested heavily in complying with the disclosure rules, but the complexity of the requirements has made it inevitable that some will be found non-compliant.
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Ginnie Mae Tries to Allay Investor Fears on Streamlined Refis

October 26, 2016
George Brooks
Ginnie Mae President Ted Tozer noted that investor participation “depends, in part, on a level of confidence that investment returns can be expected to be reasonably aligned with market conditions.”
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A Big (Sort of) Mortgage M&A Deal – But in the Commercial Space

October 26, 2016
Paul Muolo
On average, the California-based GEMBC facilitates roughly $800 million of commercial mortgages a year.
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MBA: Originations Look Decent for 2017

October 26, 2016
Paul Muolo
The higher purchase-money estimate – released at the MBA annual in Boston – is predicated on stronger household formations coupled with employment growth and rising wages.
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Short Takes: What a Trump White House Means for the GSEs / PHH Will Release 3Q16 Results on Election Day / Wedbush Initiates Coverage of PHH / Freedom From Reps & Warrants? / The First Hispanic-American MBS Chair / New Hires for Silver Hill

October 26, 2016
Paul Muolo
Wedbush's Henry Coffey notes that PHH is “facing a number of challenges,” including a struggle to restore profitability…
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