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Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted

August 31, 2016
George Brooks and Paul Muolo
What Stevens describes sounds like something a trade group might want to do...
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The Six-Month Tally: FHA Production Up 8.4 Percent, VA by Almost 13 Percent

August 30, 2016
George Brooks
It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the second quarter than either FHA or VA…
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Subservicer Statebridge Nearly Doubles Contracts to $2.60 Billion

August 30, 2016
Brandon Ivey
FrontRange Capital first invested in Statebridge back in 2013. The money allowed the subservicer to buy out its then-owner, Integrated Asset Services.
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Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort

August 30, 2016
Paul Muolo
While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.
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Prestwick Selling $502 Million of Fannie Mae/ Freddie Mac Servicing Rights

August 30, 2016
Paul Muolo
All of the loans were funded through the retail channel by the seller company.
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MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent

August 30, 2016
Paul Muolo
The results should surprise few: big gains on production, losses on servicing…
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Short Takes: Bank Says ‘We’re a Subprime Lender Too’ / No Ties to BofA / And the Big Three of Nonprime Lending Are… / REIT Exits NPL Market / Former MGIC Chief Lacy Dead at 71

August 30, 2016
Paul Muolo
The largest nonprime (non-QM) lenders are likely (in no certain order): Citadel Loan Servicing, Deephaven Mortgage and Angel Oak...
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REIT MBS Holdings Up Modestly in 2Q16, but…

August 29, 2016
John Bancroft
Annaly Capital Management remained the top REIT MBS investor despite an 0.8 percent drop in its portfolio.
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MBA Issues Warning on Lenders Getting Involved in Downpayment Assistance Programs

August 29, 2016
George Brooks
The FHA and the Inspector General of HUD currently are at odds over permissible sources of single-family downpayment assistance offered through housing finance agencies.
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A $2.5 Billion a Year Lender Files IPO Documents. It’s a Bank Though…

August 29, 2016
Paul Muolo
In 2014, FB Financial began retaining more of its servicing rights and now has a $4.0 billion portfolio.
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Latest Imf News

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