FHA Lenders, Guilty Until Proven Innocent? Compliance Experts Concerned July 19, 2013 George Brooks HUD thinks random sampling would help make post-endorsement reviews more efficient, but some legal advisors believe the cost is too great. Read More
Bernanke Calms Markets With Details About Fed Plans to Taper July 19, 2013 Thomas Ressler The Fed chief told elected officials that whatever housing finance reform plan they choose to replace Fannie Mae and Freddie Mac, it should be clear to private investors about the governments role in the market.Read More
Securitization of Re-Performing Residential Mortgages Gaining Traction July 19, 2013 Paul Muolo Not only are nonperforming residential mortgages being placed into new securities, but so are re-performing loans.Read More
What We're Hearing: Industry Facing 40 Percent Layoffs? / Movement Mortgage Trims Staff / Mel Watt to the Rescue? / 125 Percent LTVs are Back, No Not HARP / HUD Auctions Off More than $3 Billion of NPLs / Hensarling Schedules Markup of GSE Bill July 19, 2013 Fear and loathing in the mortgage job market? Movement Mortgage has let several mortgage workers go. Can looser underwriting standards save the day? Read More
Growing GSE Purchase Market Surprisingly Uniform July 18, 2013 John Bancroft First-time homebuyers accounted for 33 percent of all GSE-securitized purchase mortgages in the first half, according to Inside Mortgage Finance.Read More
First Republic Reduces Non-Agency Loan Sales in Second Quarter July 18, 2013 Brandon Ivey Jumbo originations increased at First Republic Bank, but its mortgage gain-on-sale margin took a hit.Read More
Rising Rates Having Mixed Effect on Home Purchases July 18, 2013 Brandon Ivey The non-cash share of home-purchase financing increased to 71 percent in June from 67 percent in February, based on the three-month moving average.Read More
Flagstar Job Loss Could Top 300, Large MSR Sale in the Works July 18, 2013 Paul Muolo Flagstar hopes to unload $30 billion in residential servicing rights, but is contemplating selling even more in the way of MSRs.Read More
Cole Taylor Mortgage in Detailed Sale Talks With PE Firms July 18, 2013 Paul Muolo Three years ago Cole Taylor Bank had no presence in the mortgage market until Willie Newman joined the bank and started a residential division.Read More
Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPBs Data Collection Efforts / Bad Debt Up in Value July 18, 2013 Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...Read More