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Obama Estimate on Those Helped by FHA Premium Cut Exaggerated?

February 6, 2015
George Brooks
Meanwhile, a separate survey conducted by Inside Mortgage Finance found 17 percent of respondents holding the belief that the premium cut will have little effect...
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What We’re Hearing: A Death Knell for GSE Principal Reductions? / Too Many Chickens for Subprime? / Newman Moves Closer to Completing Purchase / Dimensional Increases Stake in PHH / The Ocwen-Cockroach Comparison?

February 6, 2015
Paul Muolo
With Ocwen about to unload a massive amount of servicing rights will the company still need to have such a large back-office operation in India?
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Ocwen Files Notice: A Fourth Quarter Loss and Monthly MSR Sales; Company the Subject of 46 Exams

February 5, 2015
Paul Muolo
The nation’s largest nonbank servicer revealed that during 2014, state regulators commenced 46 examinations “of one or more of our areas of operation…”
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Nonbanks Continue to Steal Servicing Market Share Away From Depositories

February 5, 2015
John Bancroft
Among the top 10 residential servicers, just three firms managed to grow their receivables from the third to fourth quarter: Quicken, Walter and U.S. Bank Home.
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Is the CFPB Going ‘Liberal’ on Portfolio Loans?

February 5, 2015
Thomas Ressler
Most importantly, the ATR proposal would exclude from that limit loans held in portfolio.
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Ocwen Anticipates 4Q Loss, But Mum on the Size; Company the Subject of 46 Exams

February 5, 2015
Paul Muolo
In its 8-K filing with the SEC, Ocwen revealed that during 2014, state regulators commenced 46 examinations “of one or more of our areas of operation…”
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FHLB Advances Helping Two Harbors in Issuance of Jumbo MBS

February 5, 2015
Brandon Ivey
Two Harbors is a member of the FHLB system via a captive insurance affiliate. The Federal Housing Finance Agency is contemplating snuffing out this avenue of membership...
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PennyMac Financial Suffers Earnings Decline, Reveals Pending MSR Purchases of $20.8B

February 5, 2015
Paul Muolo
At yearend, PMFS serviced $106.0 billion of mortgages, ranking 15th nationwide, according to a new market analysis from Inside Mortgage Finance.
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Short Takes: More MSR Shrinkage for BofA / And BofA Layoffs Too / Two Harbors Continues to Amass Jumbos / Another Blow for the PSPA Battle? / Clayton Hires Guy

February 5, 2015
Brandon Ivey and Paul Muolo
Two Harbors, a REIT, has been aggregating, on average, $300 million of jumbo mortgages per month.
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If Pingora’s Capital Raise is Successful, It Could Have $1 Billion Tied up in Mortgage Servicing Rights

February 5, 2015
Pingora Asset Management is trying to raise $500 million of additional capital to buy mortgage servicing rights from eager sellers. If successful, it will bring the young company’s investment in residential receivables up to $1 billion. According to new figures compiled by Inside Mortgage Finance, Pingora owned $25.38 billion of Fannie Mae/Freddie Mac residential servicing rights at yearend, ranking 24th among all servicers. Three years ago, it didn’t even exist. Company founder and Chief Executive Michael Lau was said...
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