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House Financial Services Committee Begins Markup of ‘CHOICE’ Act; Process Could Last Days

May 2, 2017
Thomas Ressler
The Mortgage Bankers Association, for its part, expressed strong support for some provisions of the Hensarling bill…
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Short Takes: Mr. Who? / What were the Other Choices? / Cerberus Readies MBS Backed by Seasoned Loans / What Works Best for Freddie’s Profits / Help Wanted: Idaho Mortgage Banker

May 2, 2017
Brandon Ivey and Paul Muolo
If Mr. Cooper was the first choice, what were the others?
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Ocwen in Negotiations to Sell Large Block of Servicing to New Residential

May 1, 2017
Paul Muolo
The transaction was mentioned during New Residential’s earnings call Monday morning and confirmed by a source...
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Jumbo Originations Down Sharply in 1Q17, but Lenders Remain Optimistic

May 1, 2017
Brandon Ivey
While jumbo production fell on a sequential basis, many lenders saw a gain when compared to the same quarter a year earlier…
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Proposed Changes from S&P to Non-Agency MBS Rating Criteria Would Favor Prime Mortgages

May 1, 2017
Brandon Ivey
S&P said the revisions are intended to better reflect the evolution of the U.S. residential mortgage market over the past several years…
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At Secondary Conference, MBA Chief Calls GSE Recap & Release ‘Crazy’

May 1, 2017
Paul Muolo
Stevens credited the Federal Housing Finance Agency with making “significant progress” in fixing the flaws of Fannie and Freddie...
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CFPB Warns of ATR Issue with Non-QMs

May 1, 2017
Brandon Ivey
The regulator cautioned that a large downpayment alone isn’t sufficient to prove a borrower’s ability to repay a non-QM that is based on the consumer’s assets.
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Short Takes: A REIT in Love with MSRs / No. 2? / The Fortress Connection for New Rez and Nationstar / Phoenix Selling Whole Loans / Kaplan Departs Ranieri Companies

May 1, 2017
Paul Muolo
At this pace, you can expect that by yearend New Rez will be the nation’s second largest servicer, at least in terms of ownership rights…
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Ocwen Agrees to Sell $117 Billion of MSRs to New Rez; REIT Would Obtain 4.9% of the Troubled Servicer; Share Price Spikes

May 1, 2017
Paul Muolo
On the news, Ocwen’s share price was up a stunning 37 percent on the day to $3.15.
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ABS Market Roared to Life in 1Q17 After a Lethargic 4Q16

April 28, 2017
John Bancroft
First-time issuers and those that didn’t issue in the fourth quarter accounted for 56.1 percent of 1Q17 ABS production.
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