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Radian DTA Recapture of $815MM Boosts 4Q Earnings; MI Written Drops

February 12, 2015
Paul Muolo
Radian disclosed that its mortgage insurance division wrote $10.0 billion of new policies during 4Q, an 11 percent sequential decline.
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M&A Heats Up: New Jersey REIT to Buy Aurora While RoundPoint May Be Entertaining Offers

February 12, 2015
RoundPoint Mortgage, a servicer with more than $41 billion of receivables on its books, is entertaining offers for the entire company, according to industry officials briefed on the matter. Moreover, servicing advisors contend that several large bulk servicing portfolios are ready to hit the market in what should turn out to be a busy late winter/early spring for both buyers and sellers of mortgage servicing rights. In a recent public disclosure, Ocwen Financial said...
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Short Takes: Mangrove to Reveal HLSS Director Nominees / MountainView Selling MSRs / SLS in MSR Deal with JPM / Please Don’t Come to Chicago / First Alliance Hires Former Nationstar Official

February 12, 2015
Brandon Ivey and Paul Muolo
A 50-year tradition is now kaput: The Federal Reserve Bank of Chicago has cancelled its annual bank structure conference...
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Home-Equity Lending Has its Best Year Since 2009

February 11, 2015
John Bancroft
The jumbo market ended 2014 with $235 billion in originations, a 14 percent decline from the prior year.
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New HUD Secretary Comes Off as Ill-Prepared for Encounter with House Panel

February 11, 2015
George Brooks
What did the FHA earn last year? The new HUD secretary didn't know.
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CFPB Fines VA Lender NewDay $2 Million for Deceptive Ads, Kickbacks

February 11, 2015
Thomas Ressler
NewDay's chairman emeritus is former Ginnie Mae president Joe Murin.
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Jumbo MBS Investor Base Shrinking; Issuance Likely to be Flat This Year

February 11, 2015
Brandon Ivey
The ABS Vegas show attracted more than 6,000 attendees, but few investors appear ready to buy new jumbo MBS.
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Cherry Hill Mortgage REIT Buys Mortgage Company; Will Leverage MSRs

February 11, 2015
Paul Muolo
Stan Middleman, chairman of CHMI, told IMFnews that having agency approvals will allow the REIT to leverage servicing rights...
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Accounting Treatment for Past Due Loans in Ginnie Pools Clarified

February 11, 2015
George Brooks
According to the MBA, a Big Four accounting firm issued controversial guidance which would have been burdensome for small MBS issuers.
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Securitization of Nonprime and Non-QM Loans Looking Doubtful for 2015

February 11, 2015
Paul Muolo
Bayview is purchasing from a network of correspondent sellers roughly $10 million per month in loans that don’t meet the QM test defined by the CFPB.
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