Surprise: Prime Non-Agency MBS Issuance Spiked in the Third Quarter October 16, 2017 Brandon Ivey The nonprime MBS category includes some deals better categorized as Alt A…Read More
Stearns Lending Reveals it Has a Mortgage Joint Venture with SoFi October 16, 2017 Paul Muolo Stearns, however, doesn’t service any mortgages for SoFi…Read More
CFPB Enforcement Chief Anthony Alexis to Depart October 16, 2017 Thomas Ressler Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…Read More
MIAC Sets Auction for Fannie Mae MSR Portfolio October 16, 2017 Paul Muolo The seller of the MSR package focuses on the California market...Read More
Citadel Receives Ratings from Morningstar; Look for a Nonprime MBS in January October 16, 2017 Brandon Ivey Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings… Read More
Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually October 16, 2017 Paul Muolo A large nonbank is about to enter the second-lien market...Read More
Non-Agency MBS Issuance Weakened in 3Q17 Despite Upswing in Prime Jumbo Deals October 13, 2017 John Bancroft The bright spot was the prime jumbo MBS market where some $2.97 billion of new bonds were issued during the third quarter…Read More
A (Slight) Drop in Originations at BofA for 3Q17 October 13, 2017 Paul Muolo Home equity lending fell even more at BofA: down 12.7 percent from the prior period...Read More
A Modest Uptick in Home Lending for Wells Fargo in 3Q17; Meanwhile, a $1 Billion Legal Charge for Mortgage Investigations October 13, 2017 Paul Muolo Gain-on-sale profits came to 124 basis points, flat from the prior period, and the weakest reading of the past five quarters...Read More
HUD Secretary Ben Carson Open to Excising HECMs from the MMIF October 13, 2017 George Brooks Rep. Heck said he will ask the GAO to study and recommend options for improving the reverse-mortgage program, including shifting HECMs out of the MMIF...Read More
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