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VA Originations Continue to Impress, Up Almost 18 Percent in Fourth Quarter

March 27, 2015
George Brooks
Total VA volume for the entire year was $112.0 billion in purchase and refinance loans.
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What We’re Hearing: PHH, Worth Double? / BofA, Slow and Really Cautious / No Cut in G-Fees? Here’s Why / Protecting Your Officers and Directors / A Market on Fire: VA Lending

March 27, 2015
Paul Muolo
Glenview is bullish on Ocwen but it also owns a large stake in the nonbank...
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CFPB Holds Firm on Implementation Date for Integrated Disclosure Rule

March 26, 2015
Thomas Ressler
CFPB General Counsel Meredith Fuchs showed little sympathy for lenders worried about TRID's start date, referencing the rule's long implementation period.
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Home-Equity Lending Has Its Best Year Since 2009

March 26, 2015
John Bancroft
The headline might sound promising, but keep in mind that during the housing boom of 2003 to 2007, the industry averaged nearly $340 billion a year in home-equity originations.
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CSBS Sets Nonbank Capital Minimum at $2.5 Mil; Guidelines Look a Lot Like FHFA’s

March 26, 2015
Brandon Ivey
For capital, the proposed baseline standard for all nonbanks would require a base net worth of $2.5 million...
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Impac’s Early Results with Non-QM Lending Weak, but Hope Springs Eternal

March 26, 2015
Brandon Ivey
Impac said it will originate more than $2.0 billion of all mortgages in 1Q15, almost double what it produced the previous quarter.
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House Panel Votes to Tweak Points-and-Fees Formula

March 26, 2015
Thomas Ressler
The bill would exclude from the calculation insurance and taxes held in escrow and fees paid to affiliated companies...
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RoundPoint Mortgage Sale Hits a Snag; Ocwen Not Likely to be Sold as a Going Concern

March 26, 2015
With the first quarter coming to a close, the mortgage mergers and acquisitions market shifted into high gear this week as Ocwen Financial stepped up its auction of agency servicing rights and new revelations surfaced that RoundPoint Mortgage was almost sold, but the deal hit a snag over pricing. According to investment banking officials familiar with the RoundPoint situation, a buyer backed away from the transaction because the servicer’s owner, Tavistock Group ...
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Short Takes: Nationstar Hiring? / Ocwen for Sale? / Is it Safe for Nonbanks to Start Originating Seconds? / A Capital Break for MSRs? / Impac Posts Loss

March 26, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
Is it possible that Ocwen will sell the entire company and not just all of its agency servicing rights?
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Fed Researchers Find that Lenders’ Staffing Levels Are Tied to Demand for Purchase Mortgages, Not Refis

March 26, 2015
Lenders make adjustments to staffing levels based on demand for purchase mortgages while demand for refinances spur little increase in mortgage employment levels, according to new research from staff at the Federal Reserve. Steve Sharpe, an economist at the Fed, and Shane Sherlund, an assistant director at the Fed, said mortgage processing capacity constraints caused by refi booms reduce originations to borrowers with low to modest credit scores ...
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