Short Takes: Who Needs the GSEs? / JPM’s Strategy / Subservicers on the Auction Block? / New Diligence Advisors Gets the Seal of Approval from KBRA / Atlantic Bay Mortgage Won’t be Buying VA Bank After All August 15, 2018 Paul Muolo We know of one large subservicer that’s for sale (Ditech Financial), but a second processor may also be considering offers.Read More
Expanded-Credit Mortgage Securitization Falters Ever So Slightly in 2Q18 August 14, 2018 John Bancroft The biggest increase has been in the new breed of Alt A securities…Read More
VA Doesn’t Like Bill that Would Increase Costs on Vet Home Loans August 14, 2018 George Brooks Both the VA and residential originators believe the fee increase would be used to cover expanded health-care benefits…Read More
Cowen Sees Political Turmoil Whipsawing the Financial Services Landscape. Servicers Should Brace for Action August 14, 2018 Yemeng Yang Cowen: “We would expect enforcement to return with Democratic control and wane with GOP control.”Read More
Short Takes: GSE Nonprime Holdings Keep Shrinking / However… / Production Remains Strong at UWM / LendingTree’s Share Price: Down, Down, Down / Lenders One Promotes Kuentz to CEO August 14, 2018 John Bancroft and Paul Muolo Fannie and Freddie stopped acquiring nonprime mortgages during the financial crisis, but they haven’t completely avoided the loans... Read More
RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges August 14, 2018 Paul Muolo Overall, RBS underwrote $261.1 billion of subprime securities during the go-go years...Read More
Why Mayopoulos’ Senior Lieutenants Will Turn Down the Fannie Mae CEO Job August 13, 2018 Paul Muolo Mayopoulos didn’t even earn a performance bonus in 2017, despite a companywide pre-tax profit of $18.4 billion.Read More
New Players Enter Non-QM Market by Aggregating Loans and Issuing MBS August 13, 2018 Brandon Ivey The new MBS from Neuberger Berman is backed by loans originated by Impac Mortgage Holdings…Read More
VA Production Spikes 30.2 Percent, Thanks to Strong Purchase Lending August 13, 2018 George Brooks However, VA refi business struggled in the second quarter with production falling 7.0 percent…Read More
IMA Working on $20 Billion MSR Transaction August 13, 2018 Paul Muolo The top five sellers of bulk agency product during the first-half of 2018 were Stearns Lending, Flagstar Bank, Seneca Mortgage, United Shore Financial (parent of United Wholesale Mortgage), and loanDepot.Read More
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