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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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Biniam Gebre Out as Acting FHA Commissioner; Ed Golding Is In

March 26, 2015
Paul Muolo
Gebre was Galante’s temporary replacement. Until a recent cut in premiums, FHA volume has been steadily dropping.
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Nationstar Reveals More MSR Purchases, but Stock Gets Hit on News of Secondary Stock Offering

March 25, 2015
Brandon Ivey
How is Fortress feeling this morning? It owns 70 percent of Nationstar's common.
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Agency MBS Does Its Part: Small but Steady Growth

March 25, 2015
John Bancroft
Fannie Mae is still the most prolific author of single-family MBS, accounting for 46.6 percent of agency MBS outstanding at Dec. 31.
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IG Report: FHFA Took 750 Conservatorship ‘Actions’ Against the GSEs in 2014

March 25, 2015
Paul Muolo
Fannie and Freddie don't get out of bed in the morning without first talking to the FHFA. (Then again, the two are in conservatorship.)
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It’s Time to Scale Back Dodd-Frank, Industry Says

March 25, 2015
Thomas Ressler
Mortgage professionals overwhelmingly believe the Dodd-Frank Act should be revised, removing barriers to innovation and to reduce the cost of manufacturing a mortgage.
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Short Takes: Will SCOTUS Allow Underwater Seconds to be Dismissed? / And Now a Word from RoundPoint / GSE Conservatorships: Long, Strange Trip, Man / A GSE Bill Passing? Not Likely / More on Nationstar

March 25, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
Although RoundPoint isn’t taking any questions regarding a possible sale of the company, it recently published a statement regarding its co-issuance and subservicing businesses.
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