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Early 2018 Brings More Volatility to GSE Single-Family Rivalry

April 16, 2018
John Bancroft
In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”
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Stearns Holdings Wants to Retire $80 Million Worth of High-Yielding Paper

April 16, 2018
Paul Muolo
Finance of America’s new president is industry veteran Bill Dallas.
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Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

April 16, 2018
Paul Muolo
Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...
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Due Diligence Giant AMC is Sold As Non-Prime Securitization Heats Up

April 13, 2018
Stone Point Capital, which seems to have an insatiable appetite for mortgage-related assets, has added due diligence provider American Mortgage Consultants to its growing stable of companies.
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Non-Agency MBS Issuance Down Sharply in 1Q18, but Subprime and Alt A Show Promise

April 13, 2018
John Bancroft
During 1Q18, issuance of MBS backed by seasoned loans fell 50.8 percent…
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Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least)

April 13, 2018
Paul Muolo
MB Financial plans to keep originating home loans in the greater Chicago area and will keep its mortgage servicing platform intact.
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JPM’s Origination Machine Tanked in 1Q18

April 13, 2018
Paul Muolo
Despite the drop, JPM marked up the asset value of its mortgage servicing portfolio...
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A 19 Percent Drop in Residential Lending at Wells Fargo; Megabank Says Regulators Want $1B to Settle Auto and Mortgage RLC Charges

April 13, 2018
Paul Muolo
Wells said the CFPB and OCC have asked the megabank for a $1 billion settlement in the matter.
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What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows

April 13, 2018
George Brooks and Paul Muolo
Now comes the big question: How many more MB Financials are out there?
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MBA Casts the Net Far and Wide for New Chief

April 13, 2018
To date, Spencer Stuart, the search firm working to find a successor to Mortgage Bankers Association President and CEO Dave Stevens, has contacted roughly 40 different men and women, according to industry officials who claim to have knowledge of the process. For the most part, MBA wanted to cast a net as wide as possible, approaching current and former members of Congress, trade group officials, lobbyists and senior and veteran industry executives. Included in the initial search ...
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