Banks and Thrifts Continue Their Love Affair With MBS February 22, 2016 John Bancroft As banks cede market share to nondepositories, an odd thing is happening: banks and thrifts are hiking their investment in MBS.Read More
Congress Voices Concerns on DOL Overtime Move, Which Could Affect Mortgage Firms February 22, 2016 George Brooks Currently, employers are required to pay overtime for all employees who make $23,660 or less annually.Read More
Impac Officials Not too Impressed with Quicken’s Rocket Mortgage, See Similarities with CashCall February 22, 2016 Brandon Ivey “I personally called their line. I didn’t see much difference, to be honest with you,” said Impac executive Joe Tomkinson.Read More
Mid America Continues to Bid on TRID ‘S&D’ Loans; Expects Market Could Peter Out Eventually February 22, 2016 Paul Muolo A handful of firms broker TRID scratch and dent loans, including Rincon Mortgage Trading, Mortgage Delivery Specialists and Spurs Capital.Read More
Non-Profit Will Take First Loss on New BofA 3-Percent-Down Product February 22, 2016 Carisa Chappell Non-traditional forms of credit also will be taken into account on the new productRead More
Short Takes: $500 Million is the Target for BofA / BofA’s Past FHA Pain / Ocwen a ‘Neutral’ / A New CFO for Stonegate February 22, 2016 Paul Muolo BofA said it has no plans to further reduce its involvement in FHA lending. Read More
Private Mortgage Insurers Regained Some Market Share in 4Q, But… February 19, 2016 John Bancroft Among the MI standouts: Arch Mortgage Insurance, which had a hefty 108.9 percent increase in traditional flow business...Read More
Fannie Posts $2.47 Billion Profit For 4Q, Says FHA MIP Cut Into Business February 19, 2016 Paul Muolo Thanks to the MIP cut, it looks like FHA is stealing business away from Fannie Mae...Read More
The CashCall Acquisition Continues to Pay Off for Impac; MSR Sales Help Too February 19, 2016 Brandon Ivey Impac sold a large block of MSRs in 4Q, which boosted profits.Read More
Former FHA Chief Galante Named to Ocwen’s Board February 19, 2016 Paul Muolo A smart political move? Ocwen's board now includes former officials from the U.S. Treasury and FHA.Read More
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