FHFA Called on to Turn Jumbo Market Over to Non-Agency Sector May 14, 2013 Brandon Ivey One mortgage expert warns that lowering GSE loan limits one step at a time to $417,000 could leave parts of the residential market underserved. Read More
SunTrust Hires Former CitiMortgage Executive to Run Retail Mortgages May 14, 2013 Paul Muolo Jeffrey Walker, the new head of residential retail for SunTrust, has worked for such lenders as CitiMortgage and Wells Fargo. Read More
Freddie Streamlined Modification Program to Boost MI Sector May 14, 2013 Paul Muolo A new modification program from Freddie Mac also will pay mortgage servicers $1,400 per unit for each successful loan restructuring. Read More
Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO May 14, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.Read More
Earnings Boost From Originations Offset Servicing Downturn in 1Q13 May 13, 2013 John Bancroft Income tied to residential servicing was down 27.7 percent for the 10 lenders as a group.Read More
Appendix Q Compliance Key to Maintaining QM Legal Protections May 13, 2013 Thomas Ressler As adopted, Appendix Q of the QM rule requires items to be considered and verified for the two prior years, and requires well-documented projections for the following three years. Read More
IMA Closes Two Large Bulk MSR Sales May 13, 2013 Paul Muolo Investors have stepped up to the plate, buying new large bulk MSRs put out for auction by Interactive Mortgage Advisors. Read More
Forecasters Predict an Origination Swoon in 2013 May 13, 2013 John Bancroft Although 2013 will turn out to be a decent year in terms of residential production, next year could be quite ugly.Read More
Short Takes: More Investment Funds Salivating Over MSRs / Now BofA is Dumping Commercial MSRs / HLSS Continues to Take Advantage of Cheap Money / More Trouble for Chimera / Ten-Year Treasury Nears a Yearly High May 13, 2013 Paul Muolo Investment funds are continuing to salivate over mortgage servicing rights. Read More
Yet Another Jumbo MBS Deal From Redwood, This One its Most Diversified May 13, 2013 Brandon Ivey Redwood Trust is ready to sell yet another jumbo MBS deal into the market.Read More