Proposals Not Enough to Revive Non-Agency MBS Market December 19, 2016 Brandon Ivey A little less than $10.0 billion in prime non-agency MBS will be issued in 2016, according to estimates by Inside Nonconforming Markets.Read More
Short Takes: PHH Files Layoff Notice with NYS / Jobs Will be Offered to Certain Employees / Altisource Wanted to Buy LPS / Mortgage Network Names New President December 19, 2016 Paul Muolo and Brandon Ivey PHH had been subservicing the loans for HSBC and the new owner of the MSRs had opted to bring the loans inhouse instead of using PHH…Read More
And the Beat Goes On: Nonbanks Keep Taking MSR Share from Depositories December 16, 2016 John Bancroft Commercial banks reduced their securitized servicing by 1.9 percent during the third quarter, though they still accounted for 52.5 percent of that market.Read More
FHA Shifts Direct Endorsement Review from Pre-Closing to Post-Closing December 16, 2016 George Brooks A lender applying for direct endorsement authority will be required to submit loan files for FHA’s pre-endorsement review only after closing.Read More
As Rates Move Higher, a New Found Optimism Hits the MSR Market. Can it Last? December 16, 2016 Paul Muolo The 'Trump Bump' Hits the MSR market as well...Read More
What We’re Hearing: As Rates Move Higher, Disaster Looms for the Mortgage Industry (Not Really) / The Stock Market Will ‘Correct’ on This Date… / New Fannie Survey Finds Lenders Glum / He’s Back: Nonprime Veteran Jon Daurio December 16, 2016 Paul Muolo If rates don’t improve in the next few months, one area where lenders will try to save money is on loan officer compensation... Read More
Home-Equity Lending Softened Slightly in 3Q16 as Refis Surged December 15, 2016 John Bancroft Bank of America once again ranked first as the top home-equity lender in the nation, although its production fell 17.7 percent…Read More
FHFA Unveils GSE ‘Scorecard’ for 2017. Several Items on the List, Including CRTs, ‘Underserved Borrowers’ and Servicing Liquidity December 15, 2016 Paul Muolo The FHFA’s mention of servicing liquidity is an acknowledgement of the growing market share gains by nonbanks.Read More
With Rates Rising, CEOs Contemplate Cost Cuts and that Means LO Comp is in Play December 15, 2016 Thomas Ressler Lenders should never make unrealistic promises when recruiting loan officers, said one webinar panelist…Read More
Ocwen Shakes Up TPO, Combines Wholesale and Correspondent Sales Team at Homeward; Former ICON Executive Put in Charge December 15, 2016 Paul Muolo Usually, when a lender consolidates sales units, a certain amount of workers are let go... Read More