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Mortgage Insurers Fear an FHFA Crackdown on their Use of Reinsurance

October 15, 2015
Paul Muolo
“The FHFA is trying to solve every possible problem that might come up,” said one mortgage insurance executive.
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Short Takes: So, What’s BofA’s Next Move? / Who is Tom Ferry? / Former NFL Player Sticks with MSAs / Walter Gets a Better Grade / CFPB Issues New HMDA Rule / FGMC Hires SunTrust Mortgage Chief

October 15, 2015
Brandon Ivey and Paul Muolo
Bank of America isn't severing all its ties to realtors...
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Stonegate Mortgage May Be in Play; Blackstone And Caliber Mentioned as Possible Suitors

October 15, 2015
Stonegate Mortgage, Indianapolis, a publicly traded nonbank that recently underwent a management change, is considering takeover offers, according to industry advisors familiar with the situation. Although the company declined to comment, it appears that at the very least it’s considering selling some of its branches. At the same time, sources contend that certain branch managers are trying to cut separate deals with competitors. Firms looking to take over those branches include...
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Stonegate’s Mortgage Branches Hunting for a Better Deal Elsewhere?

October 14, 2015
Paul Muolo
Sources have identified Caliber Home Loans and Skyline Lending as possible acquirers of branches.
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MBA: Thanks to TRID, Mortgage Applications Get Creamed

October 14, 2015
Thomas Ressler
The trade group quickly found a villain for the ugly reading: the Oct. 3, 2015, effective date of the CFPB’s TRID rule.
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In 3Q, JPM Gobbled Up $19B of Mortgages for its Own Balance Sheet

October 14, 2015
Brandon Ivey
As one JPM competitor noted: “It’s no surprise that correspondent led the way for them. They own the correspondent jumbo market.”
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Residential Production Down 11 Percent at Wells Fargo, 14 Percent at BofA

October 14, 2015
Paul Muolo
In 3Q, BofA funded $13.71 billion of first liens, a 14 percent sequential decline. All of it came through the retail channel.
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A Trend Continues: Bank of America Pulls the Plug on All Marketing Services Agreements

October 14, 2015
Paul Muolo
Bank of America said it will discontinue all “space rental agreement programs due to recent regulatory developments.”
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Short Takes: An Update on GSE Principal Reductions? / FCI Teams Up with Blackrock on SFRs / Ditech in ABS Deal / RealtyMogul.com Hits a Milestone / Just in Time for Halloween: Fewer ‘Zombie’ Foreclosures

October 14, 2015
Brandon Ivey and Paul Muolo
According to a rate sheet, the minimum loan amount on the rental properties is $250,000 while the minimum number of properties is five...
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Moody’s: Banks Have Higher Losses on Non-Agency Foreclosures

October 13, 2015
Brandon Ivey
Moody’s found that completed foreclosures for bank-serviced loans in Florida averaged 1,077 days or three years...
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Latest Imf News

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