SoFi Contemplating a Jumbo MBS Deal? July 12, 2016 Paul Muolo To date, SoFi has talked little about its mortgage business…Read More
Short Takes: Mortgage Bankers Cut Jobs / OCC Expresses Anxiety over Commercial Banks and TRID / CRE Worries Too / Freddie Expands Re-performing Loan Effort / BB&T Promotes Campbell July 12, 2016 Carisa Chappell and Paul Muolo Although commercial banks are making money hand-over-first these days, that doesn’t mean national bank regulators shouldn’t worry. Read More
Red-Hot California Market Gave a Boost to GSE Jumbo, Broker Share in 2Q16 July 11, 2016 John Bancroft The surge in California business helped boost the national broker share to 12.5 percent of GSE volume during the second quarter… Read More
Redwood Adjusts QC Process for Reviewing Jumbo Originations, Prompting Criticism from Moody’s July 11, 2016 Brandon Ivey Redwood believes the new QC process creates a much larger sample size and a more efficient loan quality feedback loop ... Read More
Six Senators, Including Corker and Warner, Advise FHFA’s Watt Against ‘Release’ of the GSEs July 11, 2016 Carisa Chappell and Paul Muolo Recently, several trade groups and community organizations have called on Watt to allow Fannie and Freddie to rebuild their capital buffers ...Read More
Moody’s Will Review PHH for Loss of Other Private-Label Customers as Well July 11, 2016 Paul Muolo “Given the review for possible downgrade, it is unlikely that the company’s ratings will be upgraded,” said Moody’s.Read More
Short Takes: PHH’s Loss is Fifth Third’s Gain / Changes Coming to the Ginnie Mae ‘Acknowledgement’ Agreement? / Bank Foreclosures Plunge / Mortgage Crime on the Jersey Shore / New Hire for Valuation Partners July 11, 2016 Paul Muolo Former New Jersey politician John Leadbeater worked out a plea arrangement with prosecutors.Read More
First-Half Tally: MBS Issuance by Fannie, Freddie and Ginnie Topped $612 Billion July 8, 2016 John Bancroft The agencies issued $120.05 billion of single-family MBS last month, the strongest output since July 2015…Read More
Loan Closing Delays, Repair Rules Continue to Hound FHA 203(k) Program; Volume Off 11 Percent July 8, 2016 George Brooks With higher costs and restrictions, it may take a 203(k) loan 45 to 90 days to close…Read More
FHFA Issues Update on Common MBS and Platform; Project Appears to be On Track but ‘Key Achievements’ May Change July 8, 2016 Paul Muolo The eventual goal of the project is to have the GSEs issue fully interchangeable securities.Read More
RSS