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FHFA Unveils Large Expansion of Areas Where Community Groups Get First Crack at REO

November 11, 2015
Carisa Chappell
The goal of the program is to help stabilize neighborhoods that were hardest hit by the real estate downturn by letting local community organizations review and purchase foreclosed properties first.
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Short Takes: Sen. Ted Cruz Wants to Kill HUD / A New 52-Week Low for Altisource Asset Management / Fannie Mae’s HQ Finally Hits the Market / NMI Gets Senior Secured Loan / The Fastest-Growing Servicers Among Us

November 11, 2015
Carisa Chappell and Paul Muolo
Sen. Rand Paul, R-KY, said he would not touch the mortgage interest deduction, but Dr. Ben Carson wasn't as friendly...
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One Month-Plus Into TRID: Fear of Disclosing Buyer Info and Complaints About the Great ‘Time Suck’

November 10, 2015
Paul Muolo
Bill Dallas of Skyline Lending said TRID preparation usurped all other projects...
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Five Oaks Takes Small Loss in 3Q, Runs into Delays on FHLBank Funding

November 10, 2015
Brandon Ivey
Five Oaks is approved to borrow up to $500 million in FHLBank advances.
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Warehouse Commitments Held Steady in Third Quarter, Pressure on Usage

November 10, 2015
Paul Muolo
Among the firms that have reported their figures to Inside Mortgage Finance are Southwest Bank, which had commitments of $563 million at Sept. 30...
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Short Takes: Goldman and Fortress Win the Bid for Fannie NPLs / It’s Hard Out There for a Mortgage REIT / UG Gets Good Grade on Security / InterLinc Mortgage Hires Former Envoy Executive

November 10, 2015
Carisa Chappell and Paul Muolo
The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.
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Freddie Mac Launches Another $1B-Plus NPL Auction; Plenty of Product Left in the Well

November 9, 2015
Paul Muolo
According to Freddie’s recent 10-Q filing, the GSE has plenty of NPLs left to sell.
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October Tally: A Slowdown in Fannie Mae, Freddie Mac Securitizations

November 9, 2015
John Bancroft
Wells Fargo once again ranked first among all GSE sellers with a market share of 15.3 percent in October, almost triple that of the number two ranked Quicken Loans.
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An Issue That’s Not Going Away: Tech Vendor Performance on TRID

November 9, 2015
Thomas Ressler
“I don’t think it does a lot of good to play the ‘blame game’ and I don’t think that’s where the solution lies,” said Brian Benson, CEO of ClosingCorp.
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PHH-Merrill(?) PLS Contract Extension Talks Draw to a Close; Lender May Exit FHA

November 9, 2015
Paul Muolo
According to a transcript of the earnings call, PHH also is contemplating exiting the FHA program.
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