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PennyMac Financial’s Income Down 52 Percent in 1Q17, Originations Off 32 Percent

May 5, 2017
Brandon Ivey
After the end of the first quarter, PennyMac acquired a bulk portfolio of Ginnie Mae mortgage servicing rights with an unpaid principal balance of $4.30 billion.
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CFPB Wants Public Input on Mortgage Servicing Rule

May 5, 2017
Thomas Ressler
The bureau specifically invited mortgage loan servicers and other industry representatives to comment on its assessment plan...
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A Bull Market for Newly Originated Nonprime Whole Loans?

May 5, 2017
Paul Muolo
One fact seems certain: there are more purchasers for non-agency/nonprime loans than a year ago with a handful of foreign and even U.S. banks contemplating acquisitions…
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CHOICE Act 2.0 Could Spell Trouble for the FHFA and Director Mel Watt

May 5, 2017
Carisa Chappell
The FHFA was created in part because its predecessor, the Office of Federal Housing Enterprise Oversight, was widely seen as lacking enough independence to adequately oversee the GSEs...
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CEO of Fix & Flip Lender Finance of America Commercial Departs – Two Months After His Shop was Bought

May 4, 2017
Mark Filler, CEO of “fix and flip” lender Finance of America Commercial, Chicago, has parted ways with the company two months after its parent company bought his firm, Jordan Capital, and merged it with another lender in the space. According to sources close to Filler, his departure came as a surprise. When the deal was first struck in February, Filler was put in charge of FOAC, which combined Jordan with B2R Finance. When the merger was announced, Filler looked...
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Nationstar Earns Just $2 Million in 1Q17; Firm Set to Board $155B in MSR Contracts

May 4, 2017
Paul Muolo
On the origination side of the equation, Nationstar funded $3.81 billion, a 13.2 percent drop from 4Q16.
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Mortgage Bankers Stress ‘Transition’ to a Post-GSE-Conservatorship World

May 4, 2017
John Bancroft
FHFA Special Advisor Bob Ryan noted: “I’m encouraged by the attention to this…”
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Slated for Sale, Stonegate Takes Loss in 1Q17; Originations Down 39 Percent

May 4, 2017
Brandon Ivey
At March 31, Stonegate serviced $17.42 billion of mortgages, up 6.9 percent from the previous quarter…
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House Financial Services Panel Passes Hensarling’s CHOICE Act

May 4, 2017
Thomas Ressler
Democrats unsuccessfully pushed amendments that would try to keep President Trump, anyone in his administration or any of his businesses from benefitting from any provision in H.R. 10.
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Nonbanks Continue Assault on MSR Market; New Residential Emerges as a Major Player

May 4, 2017
John Bancroft
In no time at all, New Residential has become the nation’s sixth largest owner of residential servicing contracts.
Read More
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