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Freddie Mac Hits an Earnings Grand Slam in 4Q16: $4.8 Billion in Net Income; Gains from Derivatives Top $6.3 Billion

February 16, 2017
Paul Muolo
In a few weeks, almost all of that profit will be swept into the coffers of the U.S. Treasury, which supported the GSE during its money losing years...
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Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender

February 16, 2017
Carisa Chappell and Paul Muolo
While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...
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‘Unique’ Risks in Making Mortgages to Foreign Nationals?

February 16, 2017
Brandon Ivey
The main risks in making mortgages to foreign nationals: the borrower’s lack of credit history and issues tied to income verification.
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Appeals Court Grants CFPB Request for Rehearing in Much-Watched PHH Case

February 16, 2017
Thomas Ressler
The court also ordered that the three-judge panel’s ruling this past October be vacated. Oral arguments will be heard May 24...
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Sen. Crapo, Fed Chair Yellen Agree Housing Finance Reform is Urgent

February 15, 2017
Thomas Ressler
Fed Chairman Janet Yellen on the future of Fannie and Freddie: “…I would hope that Congress would decide explicitly on what the government’s role is and if there are guarantees, that they would be recognized and priced appropriately.”
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The Mortgage M&A Game is On! In the Hunt: Blackstone, Flagstar and Others

February 15, 2017
Paul Muolo
“Anytime you have rates run up by 50 basis points, it usually takes about 90 days before a washout begins,” said one mortgage advisor.
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Tennessee Investor Pares Holdings in Walter Investment Management

February 15, 2017
Paul Muolo
Walter Investment/Ditech has yet to establish a date for the release of its fourth quarter results…
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SoftBank of Japan Agrees to Buy Fortress, Largest Investor in Nationstar Mortgage

February 15, 2017
Paul Muolo
It’s unclear at this point what the takeover might mean, if anything, for Nationstar, whose own share price has rallied the past few months.
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MBS and ABS Sectors Adjusting to Risk-Retention Requirements

February 15, 2017
Brandon Ivey
Sponsors can generally meet the requirements by retaining the most subordinate tranches of the securitization equaling at least 5.0 percent of the deal…
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Short Takes: Branch Manager Departures at loanDepot / Nationstar a Candidate for PHH MSRs? / Delinquencies Spike in Some Categories / Still in Love with Ocwen: Bill Erbey / Coming Soon: Warehouse Ranking

February 15, 2017
Paul Muolo
Bill Erbey, who was forced out by financial regulators two-plus years ago, controls 16.8 percent of Ocwen Financial...
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