Jumbo Mortgage Production Down Sharply in First Quarter June 14, 2018 John Bancroft Wells Fargo ranked first among non-agency jumbo originators, followed by Chase and Bank of America…Read More
No Longer No. 1 in Retail, Wells Fargo Plots Growth in Mortgages June 14, 2018 Brandon Ivey Quicken Loans surpassed Wells as the top retail lender in the first quarter of 2018, according to Inside Mortgage Finance. Read More
HomeStreet Reducing Mortgage Staff by 10 Percent Due to Low Demand for Purchase Loans June 14, 2018 Brandon Ivey Last October, HomeStreet cut 60 employees. In May, it put out for bid $5 billion of mortgage servicing rights….Read More
MSR Market Heats Up, New Auctions from Phoenix, MIAC June 14, 2018 Paul Muolo Bank buyers of MSRs favor packages that are at least $2 billion in size…Read More
Don’t Look Now but Ginnie Servicing Prices are the Best They’ve Been All Decade June 14, 2018 Paul Muolo Servicing brokers such as Mark Garland, Steve Harris and Tom Piercy are seeing new entrants to the MSR-buying market…Read More
Short Takes: FHFA Ignoring HERA? / A Refresher Course / How Fannie and Freddie Dismantled Legislative Bomb Threats / A Large RPL Auction from Fannie / OCC to Finally Weigh In on Fintech June 14, 2018 Paul Muolo It might be said that OFHEO was a weak federal regulator...Read More
CFPB to Tailor Enforcement Based on Scale and Intent of Violations June 13, 2018 Yemeng Yang Mick Mulvaney: “If you are doing something less than one-tenth of 1 percent of the time, maybe it’s evidence of a lack of criminal intent…”Read More
MBS Business Up Modestly, but GSE Credit Box Unchanged June 13, 2018 John Bancroft In the first quarter, average credit scores on purchase mortgages were virtually unchanged…Read More
When the Going Gets Tough, the Tough Cut LO Pay June 13, 2018 Paul Muolo Aggressive nonbank lenders are willing to offer 100 to 200 basis points per loan…Read More
Merrill Lynch Faulted by SEC for Non-Agency MBS Trading Practices from 2009 through 2012 June 13, 2018 Brandon Ivey In settling with the SEC, Merrill Lynch did not admit or deny the findings…Read More
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