Short Takes: What Happened to the GSE Rally? / Time for Treasury to Hire an Advisory Firm? / Trump Serves Notice to HUD as Well, HECMs a Big Concern / Where Did All the Senators Go? / Hugh Frater’s Other Job March 28, 2019 Paul Muolo and Yemeng Yang President Trump is concerned about the HECM program...Read More
President Trump Directs Treasury to Draft GSE Overhaul; White House Wants Final Say March 27, 2019 Paul Muolo “For each administrative reform, the Treasury housing reform plan shall include a timeline for implementation,” Trump writes.Read More
Fannie Makes it Official, Names Interim CEO Hugh Frater Permanent Chief March 27, 2019 Paul Muolo Although Frater will lead Fannie, which earned $16 billion in 2018, his salary will be capped at $600,000 per year...Read More
Neuberger Berman Set to Issue its Largest Expanded-Credit MBS to Date March 27, 2019 Brandon Ivey Most of the mortgages were sourced by Sprout Mortgage, Michael Strauss' shop...Read More
Hearings Commence on GSE Reform. NAHB Worries About ‘Administrative’ Changes, Academic Trashes Crapo’s Ideas March 26, 2019 Paul Muolo Georgetown Law Professor Adam Levitin: “I am deeply concerned about the basic direction of the chairman’s housing-finance reform proposal outline..."Read More
LendingHome Issues $219 Million ABS Backed by Fix-and-Flip Loans March 26, 2019 Brandon Ivey Fix-and-flip loans typically payoff in about seven months...Read More
MBA Research: A Net Origination Loss of $200 Per Loan in 4Q18 March 26, 2019 Paul Muolo Added MBA’s Walsh: “On the servicing side of the business, mortgage servicing impairments resulting from December’s drop in interest rates hurt profitability.”Read More
Allow the ‘GSE Patch’ to Expire, Think Tanks Recommend March 26, 2019 Yemeng Yang The CFPB introduced the GSE patch in 2014 as a temporary measure…Read More
Short Takes: Stearns Issues Expensive Debt / Counter-Cyclical? Not Always / MSR Impairments a Factor / Alterra Seeks a Controller / CFPB Taking Advisory Board Applications March 26, 2019 Paul Muolo Usually, mortgage banking is a counter-cyclical business, but not always...Read More
Fourth Quarter Income Down Sharply for Publicly Traded Nonbanks March 25, 2019 John Bancroft Two nonbanks that have been steady earners reported significant losses during the fourth quarter…Read More
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