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What We’re Hearing: Sale of PHH Mortgage Moves Closer? / More Departures at Nationstar Mortgage / Lawsky and Ocwen: Status Quo / Sen. Warner Issues Warning to Colleagues on GSE Reform

May 16, 2014
Paul Muolo
Sources contend that three other top executives also have left Nationstar Mortgage. At press time, Nationstar’s media department had not returned telephone calls and emails on the matter.
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Profit Picture for MI Industry Brightens, but Policies Written Adjust to Declining Originations

May 15, 2014
John Bancroft
All seven active mortgage insurance companies reported a total of $31.34 billion of new primary insurance written during the first quarter, according to calculations from Inside Mortgage Finance.
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HAWK Program to Increase FHA Business May Have Broken Wings

May 15, 2014
George Brooks
Recently, House appropriators approved the FY 2015 budget for HUD but without an allocation for the HAWK pilot program. Still, FHA is hopeful...
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Five Oaks Launches Correspondent Effort to Buy Non-QM Investor Loans

May 15, 2014
Paul Muolo
Five Oaks will allow for cash-out refis for loans with balances of up to $1 million. The maximum allowable loan-to-value ratio is 65 percent, but the company may eventually go to 70 percent.
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The Bloom Off the Rose for Nonbank Megaservicers? Walter Called a “Sell”

May 15, 2014
Paul Muolo
In trading, Walter was down almost 5 percent on the day. The stock fell to just under $28. Its 52-week low is $24, its high $45.12.
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Short Takes: One More Drink from the Refi Well? / Yet More MSR Deals / Coakley Lobbies Watt on GSE Principal Reductions / Stonegate Mortgage, a Screaming Short? / Trying to Put the Final Stake in Eminent Domain’s Heart

May 15, 2014
Paul Muolo and Charles Wisniowski
One Stonegate Mortgage watcher we know called the company an “absolute no-brainer short,” noting that when the lender went public “it was overvalued."
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Dead as a Door Nail: Johnson-Crapo Passes Committee. But it’s Dead. Really.

May 15, 2014
Charles Wisniowski
Industry trade group officials and lobbyists anticipate that no meaningful progress will be made on housing and GSE reform legislation until 2017 after a new president and Congress are elected.
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A Deal May be Near for PHH Mortgage; Guaranteed Rate Plans to Buy, Not Sell

May 15, 2014
PHH Corp. is continuing talks with several potential buyers about its mortgage division but is revealing little information on when it might ultimately announce a deal. In a recent conference call with analysts, company President and CEO Glen Messina would only say that “we’ve been actively engaged in detailed discussions with several interested parties” regarding both PHH Mortgage and its fleet business. Messina would not provide any more color than that. As reported by Inside Mortgage Finance last month, possible buyers include...
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Real Estate Agents Stress Reliability When Recommending a Lender to Homebuyers

May 15, 2014
Real estate agents are more likely to recommend lenders that provide reliable preapprovals to potential homebuyers, according to a survey conducted by Campbell Surveys and sponsored by Inside Mortgage Finance. Positive interactions with real estate agents could help lenders boost business as the market has shifted toward purchase mortgages from refinances. “Real estate agents frequently recommend mortgage providers, and homebuyers frequently accept these recommendations,” said Tom Popik, research director of Campbell Surveys. The new survey of more than 2,000 real estate agents found...
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Issuers Warn that SEC Proposal Could Shut Down Non-Agency MBS Sector

May 14, 2014
Brandon Ivey
The disclosure regime envisioned by the SEC prompts even greater privacy concerns than the initial proposal, according to a number of non-agency MBS issuers.
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