Single-Security Transition is on Schedule, but Some Investors May Prefer One GSE Over the Other November 9, 2018 John Bancroft The grand concept behind the single security is that MBS issued by Fannie and Freddie will be fully fungible and interchangeable.Read More
14 Nonbanks Received the Ginnie ‘Liquidity’ Letter. A Concern Regarding ‘Cash-out’ Moves by Owners? November 9, 2018 Paul Muolo The implication is that declining originations, plummeting refinancing volume and razor-tight profit margins are causing consternation at Ginnie…Read More
CFPB and FHFA Release First Loan-Level Dataset for Public Use November 9, 2018 Yemeng Yang The CFPB and FHFA have been compiling the survey data but have never released the results.Read More
What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count November 9, 2018 Paul Muolo The first move expected is a possible lowering of GSE loan limits... Read More
HUD Working on MOU to Clarify Use of False Claims Act November 8, 2018 George Brooks FHA is considering its Mortgagee Review Board as an alternative to the FCA in meting out penalties...Read More
Most Products Saw a Decline in 3Q18, but Expanded-Credit Loans Bucked the Trend November 8, 2018 John Bancroft A few mainstream lenders are starting to take notice, but most of the action is at a handful of nonbanks that have spearheaded the sector’s rise…Read More
Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator November 8, 2018 Paul Muolo Several months ago, rumors began to surface that Pacific Union might be for sale...Read More
Redwood Accelerates Diversification Efforts, Remains Profitable in Third Quarter November 8, 2018 Brandon Ivey Redwood CEO Chris Abate: “Our game plan in the third quarter was a bit unconventional – we ran an up-tempo offense, squarely in the face of mortgage market headwinds.”Read More
Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too November 8, 2018 Paul Muolo About 41 percent of Impac's volume now entails non-QM lending...Read More
Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point November 8, 2018 Brandon Ivey and Paul Muolo UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...Read More
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