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
Ginnie Approvals Already Surpass Last Years Total, But Nonbanks a Problem July 17, 2013 Paul Muolo Banks have a strong track record on obtaining Ginnie Mae approvals, nonbanks not so much. Read More
Ginnie Mae MBS Issuance Up in First Half of 2013 July 17, 2013 George Brooks Wells Fargo, the nation's large home funder, accounted for almost 31 percent of total Ginnie Mae issuance during the first half of 2013.Read More
BofA Continues to Lose Money on Mortgage Unit, Refis Sky High at 83 Percent July 17, 2013 Paul Muolo Bank of America's mortgage business continued to recover in the second quarter, but its rep and warranties exposure remained high at $16.64 billion.Read More
Corker-Warner Pitch Their GSE Reform Effort Over Hensarlings Ideologically Pure Bill July 17, 2013 Charles Wisniowski Sens. Bob Corker, R-TN, and Mark Warner, D-VA, say their mortgage reform measure strikes the right chord between Democrat and Republican concerns.Read More
Refis at Lowest Point in More Than Two Years July 17, 2013 Paul Muolo Is the great refi wave just about over? Read More