Phoenix Capital Selling $1.2B of GSE MSRs June 25, 2018 Paul Muolo The seller of the bulk package is a depository that lends heavily in the South…Read More
Short Takes: A Shift on GSE Thinking? / loanDepot Resumes / Job Cuts at Finance of America / Product Update from Arch / A New Mortgage Hire for BBVA June 25, 2018 Paul Muolo In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.Read More
As Ginnie’s Book of Business Grows Even Larger, Agency Moves to Ensure Issuer Liquidity June 22, 2018 George Brooks The possibility of issuer failure is a continuing concern at Ginnie Mae…Read More
Securitization Rate Holds Steady in Early 2018, but GSEs Lost Market Share June 22, 2018 John Bancroft Mortgage lenders started diverting high-balance GSE-eligible loans into non-agency MBS last year…Read More
New York Judge Rules CFPB’s Structure Unconstitutional June 22, 2018 Yemeng Yang The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.Read More
Jumbo Demand Steady After Tax Reform June 22, 2018 Brandon Ivey “We didn’t observe any meaningful change in purchase loan application trends compared to earlier years,” said Archana Pradhan of CoreLogic.Read More
What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech June 22, 2018 Paul Muolo One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”Read More
Conservatives Rallying Against the CFPB Nominee? June 21, 2018 Yemeng Yang Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”Read More
The Bank Retreat from the MSR Market Begins to Slow June 21, 2018 John Bancroft Also, credit unions and thrifts both increased their MSR holdings...Read More
JPM to Issue one of the Largest Post-Crisis Prime Non-Agency MBS Deals June 21, 2018 Brandon Ivey KBRA assigned preliminary AAA ratings to the MBS with credit enhancement of 6.00 percent on the senior tranche.Read More
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