What’s Going On? Consumers Are Complaining a Lot Less About Mortgages October 28, 2014 Thomas Ressler Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013. Read More
Quick Turn-Time on Latest Jumbo MBS from Two Harbors October 28, 2014 Brandon Ivey DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.Read More
Warehouse Lenders See an Increase in Outstandings; Credit for Non-QM Loans? October 28, 2014 Paul Muolo Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.Read More
Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual? October 28, 2014 George Brooks and Paul Muolo Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...Read More
MBS Investments by Credit Unions on the Wane October 27, 2014 With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.Read More
HUD to Let Property-Flipping Waiver Lapse October 27, 2014 George Brooks HUD believes the program’s initial objectives have been attained and that prudence and vigilance are again called for to prevent abuses.Read More
Fannie Shareholders (Pre-Conservatorship) will Reap $170 Million from Settlement October 27, 2014 Charles Wisniowski The investor-plaintiffs claim that Fannie and two of the company’s former executives made false and misleading statements about the mortgage giant’s internal controls and its exposure to subprime.Read More
Plenty of Investors are Eyeing Non-Agency Space, Even PIMCO October 27, 2014 Paul Muolo For a bond investor such as PIMCO, the attraction should not come as a total surprise.Read More
Despite ‘Open Letter’ on Loan Mod Snafu, Ocwen’s Share Price Hits New Low October 27, 2014 Brandon Ivey Ocwen's open letter to borrowers likely will not assuage shareholders who have lost a ton of money on the firm.Read More
Short Takes: Try Convincing Commercial Banks About Buyback Relief / Fannie Not So Bullish / Simpler Comp Plans for LOs? / Wells Pays HECM Fine / New Correspondent Chief for Nationstar October 27, 2014 Paul Muolo Industry consultant Joe Garrett notes that one of his clients (back in 2003) had 52 loan officers and “about 52 comp plans”… Read More