Banks and Thrifts Continue to Backpedal From Mortgage Servicing June 20, 2017 John Bancroft Not all depositories are retreating from the MSR market. The credit union industry reported a combined $197.6 billion in mortgage servicing for others at March 31, up 1.5 percent…Read More
AIG Subs Ready First Jumbo MBS Deal. Expected Size: $512 Million June 20, 2017 Brandon Ivey Other contributors to the deal include Stearns Lending, American Pacific Mortgage and Cornerstone Home Lending.Read More
TRID Played a Huge Part in Mortgage Defects Last Year June 20, 2017 Thomas Ressler If there’s a TRID error, secondary market investors will not buy the loan or will pay less for it…Read More
IG Sounds Warning: 87 Percent of HUD’s Tech Systems Near the End of Their ‘Life Cycle’; Math Problems Ensue… June 20, 2017 Paul Muolo The problem is so bad that HUD is having trouble doing mathematical calculations…Read More
Short Takes: Fed Vice Chair Fischer Says Go with the ‘Explicit’ Guarantee / Asking the Fed’s Opinion on GSE Reform? / FBR Bullish on MI / A Slight Pay Cut for MGIC’s CEO / Ocwen Hires Ex-Stonegate Executive June 20, 2017 Paul Muolo FBR believes continued changes at FHA will benefit private mortgage insurers... Read More
FHFA to Seek Authority to Examine Nonbank GSE Servicers June 19, 2017 John Bancroft Counterparty risk appears to be on the mind of the FHFA…Read More
A 15.1 Percent Jump in GSE Loan Buybacks for 1Q17, But Overall… June 19, 2017 John Bancroft There will likely be more buyback demands on the 2015 book of business in the future, but the total may not ever get to even 0.1 percent of issuance.Read More
CFPB Chief Cordray Fights Back Against Threat of ‘Contempt’ June 19, 2017 Thomas Ressler CFPB Director Cordray has responded with a detailed account that differs with the committee staff report in a number of ways...Read More
Moody’s Weighs in as Non-Agency MBS Participants Continue to Work on Deal Agent Specifics June 19, 2017 Brandon Ivey Deal agent compensation likely would include additional fees for less common, more intensive work…Read More
PHH Closes on Freddie Mac MSR Sale, Amends Contract June 19, 2017 Paul Muolo The Fannie Mae portion of the MSR sale is expected to close sometime in the third quarter.Read More
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