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Short Takes: A Revolving Door for Mortgage CEOs? / The Fight Against an Industry Fee to Help FHA Tech / What is DOS? / Redwood’s Next MBS / SG’s Goal: A Rated Deal / Another New Branch for Castle & Cooke

May 31, 2017
George Brooks, Brandon Ivey, and Paul Muolo
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
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Jumbo Servicing Increases, Delinquencies Fall

May 30, 2017
Brandon Ivey
Wells Fargo Home Mortgage and Chase Home Finance continued to dominate the sector…
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MBA, NAR, Others Identify HUD Rules They Would Like to See Changed

May 30, 2017
George Brooks
The Mortgage Bankers Association is seeking clarification of FHA liability standards to entice banks to resume their FHA lending.
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House Rules Committee to Meet Next Week on Financial CHOICE Act

May 30, 2017
Thomas Ressler
Perhaps, parts of the CHOICE Act might be siphoned off and made more politically palatable, such as regulatory relief for small community financial institutions.
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Walter Gets Increase in Warehouse Line for Reverse Unit

May 30, 2017
Paul Muolo
Walter’s reverse business posted a pre-tax loss of $5.3 million in the first quarter but took in total revenue of $22.5 million.
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Ocwen Sues FIS Over MSR Monitoring Contract; Says Workers Visited Strip Clubs on Ocwen’s Nickle

May 30, 2017
Paul Muolo
The servicer alleges that “illegitimate time” was billed to the company for hours FIS workers spent “patronizing strip clubs and casinos.”
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Short Takes: Ocwen Registers More Stock / A 12 Day Wait to Announce / The Fidelity Empire / No Income Verification for Flippers / Norcom Hires Reverse Chief

May 30, 2017
Brandon Ivey and Paul Muolo
All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.
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Depositories Increased Their MBS Holdings in 1Q17 – With a Boost from Large Thrifts

May 26, 2017
John Bancroft
Much of the growth in MBS investments came from two large thrifts: Charles Schwab Bank and E*Trade Bank…
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A Unique Deal from Credit Suisse: A Non-Agency MBS Backed by Seasoned FHA Mortgages

May 26, 2017
Brandon Ivey
Credit Suisse was a major issuer of post-crisis jumbo MBS, but hasn’t come to market with a jumbo deal since the fourth quarter of 2015.
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Investors Cool to Commercial MBS Market Because Of Lack of Clarity on Risk-Retention Requirements

May 26, 2017
Issuers of commercial MBS are facing significant problems with risk-retention requirements five months after the rule took effect, according to an industry attorney. Industry participants continue to push for guidance from federal regulators, but the response so far has been limited. “The rule is woefully inadequate as a guidebook for compliance, with massive white space, periodically interrupted by obscure bubbles of facial clarity,” according to Rick Jones, a partner at the Dechert law firm. “Unclear rules and potentially existential liability are not the stuff of a deal easily made.” In a recent commentary, Jones said...
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