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High Premiums Come Back to Haunt FHA: Purchase-Market Share Falls to Five-Year Low

October 23, 2014
Brandon Ivey
The chickens come home to roost: from 2008 through 2013, HUD increased the FHA’s annual mortgage insurance premium five times.
Read More

Yes, But Will the Megabanks Loosen Credit?

October 23, 2014
John Bancroft
David Steckel of Bank of America said his institution has focused on capturing more of the customers who fit into the company’s credit box rather than making that box bigger.
Read More

CFPB Finalizes ‘Right to Cure’ Language for QM Loans

October 23, 2014
Thomas Ressler
Any refunds paid by the originator must occur within 210 days after the loan is made.
Read More

Citi the Latest Jumbo MBS Issuer to Be Dinged for Having Small Number of Loans

October 23, 2014
Brandon Ivey
To account for the risk posed by the small loan pool, Fitch applied a penalty of 1.07-times (a 7.0 percent penalty) to the lifetime default expectations for the MBS...
Read More

Ocwen Shareholder: Investors Have Been ‘Smoked,’ Will OCN Be Forced to Sell MSRs?

October 23, 2014
Paul Muolo
One servicing analyst told IMFnews that if Ocwen continues to get downgraded on its servicer ratings it could be forced to sell MSRs and/or post additional capital.
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Short Takes: A ‘Troubling’ Corporate Culture at Ocwen? / IMA Launches Crowd-Funding Unit / Massachusetts Loses Foreclosure Battle with GSEs / Reverse Stock Split for Mortgage REIT

October 23, 2014
Paul Muolo and Charles Wisniowski
Interactive Mortgage Advisors has launched RealPartner.com, a crowd funding platform giving accredited investors access to performing residential mortgages...
Read More

First Republic, Chase Team Up on Unique New Jumbo MBS

October 22, 2014
Brandon Ivey
The new jumbo security from JPMorgan Chase is scheduled to be issued on Oct. 30.
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Flagstar Boosts Originations by 21 Percent, but CFPB Settlement Hammers 3Q Results

October 22, 2014
Paul Muolo
However, there was some good news. Flagstar reported residential originations of $7.19 billion, a 21 percent gain from 2Q.
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GSE Shareholders Look to Iowa Federal Court to Vacate DC Judge’s Dismissal

October 22, 2014
Charles Wisniowski
An investor in GSE stock, Continental’s counsel in the case is Cooper & Kirk, the same law firm that represents Fairholme, a large hedge fund that bought up GSE stock last year.
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FHFA’s Watt Promises a CSP CEO Will be Named by Year-end

October 22, 2014
Paul Muolo
One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.
Read More
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