What We’re Hearing: GAO Worries About Fannie & Freddie / The Return of Jeb Hensarling / Top-Ranked Nonbank Enters the HELOC Market / Quicken Courts the Refi Market / Eddy Perez to Head MORPAC / Take Our Salary Survey January 18, 2019 The title of the new GAO report says it all: The Prolonged Conservatorships of Fannie Mae and Freddie Mac...Read More
Angel Oak Preps Largest Post-Crisis Nonprime MBS January 18, 2019 Brandon Ivey Some 51.1 percent of the loans were underwritten using borrower bank statements. Read More
Megabanks’ Originations Weak, MSR Values an Issue January 18, 2019 Paul Muolo Publicly traded nonbank giants, including PennyMac and Mr. Cooper, have yet to report results, but there’s nothing to suggest these shops will fare much better…Read More
‘Mega’ Jumbos Surge. But Who’s Originating Them? January 18, 2019 Brandon Ivey You’ve heard of “super” jumbos. What about “mega” jumbos?Read More
‘Digital’ Lender Better Mortgage Triples Originations January 17, 2019 Brandon Ivey Better said the company’s LOs originate an average of 40 loans per month versus the industry average of 4.2 loans... Read More
Ditech Gets a Breather from Its Note Holders (For Now); COO Terminated January 17, 2019 Paul Muolo Ditech also terminated the employment of Chief Operating Officer Ritesh Chaturbedi. Read More
Mortgage Employment Falls to 10-Month Low January 17, 2019 Paul Muolo Conventional lenders will have a tougher time of it this year...Read More
Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton January 17, 2019 Brandon Ivey and Paul Muolo The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...Read More
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