Short Takes: Buying Into a Shrinking Market? / A Game of 22 (GSE) Questions / The GSEs: Big Earners by This Measurement / 30-Year-Old Servicing Systems? / Regulatory Woes for CA? December 19, 2019 Paul Muolo and Yemeng Yang After all, who wants to invest in a shrinking (GSE) business? Something to think about…Read More
Mortgage Debt Outstanding Highest Since June 2009 December 19, 2019 John Bancroft The supply of one- to four-family mortgage debt outstanding climbed 0.8% from June to reach $11.075 trillion as of the end of the third quarter. It was the highest MDO number since June 2009. Read More
Bulk MSR Sales Lacking. Blame Low Rates? December 18, 2019 Paul Muolo Overall, the trading volume in third quarter was the thinnest of the year and 4Q19 could be weaker still.Read More
Bank MSR Values Dip to a Three-Year Low December 16, 2019 John Bancroft In general, banks and thrifts have been pulling back from the MSR market since 2009...Read More
PennyMac Ready to Make Another Trip to the Stock ‘Well’ December 11, 2019 Paul Muolo When it comes to selling additional shares, PennyMac Mortgage Investment Trust is not shy… Read More
Subprime Servicing Rights: The Runoff Continues December 11, 2019 Brandon Ivey The top three subprime servicers are: Ocwen Financial, Bank of America and Chase. Most of it entails legacy product…Read More
Short Takes: Go Figure: Fintech Raises More Money / A Rich Valuation? / Cagney / IPO in the Cards? / Bulk MSR Offering from Incenter December 5, 2019 Paul Muolo Figure’s co-founder and CEO is Mike Cagney. If the name sounds familiar, it should. Cagney formed SoFi earlier in the decade... Read More
Mr. Cooper Discloses Weaker Lending Margins December 4, 2019 Mr. Cooper: “Prepayment speeds have remained high so far in the fourth quarter, with forward owned CPRs of 20.3% in October and 17.8% in November…”Read More
Another Year of Shrinkage at the CFPB December 4, 2019 Yemeng Yang At Sept. 30, the CFPB employed 1,430 workers, down 5.3% from a year earlier and 14.3% below the 1,668 it employed in 2017.Read More
For Depositories, Mortgage Banking Income Rebounds in Third Quarter December 3, 2019 John Bancroft The top two banks in mortgage banking – Wells Fargo and JPMorgan Chase – reported sharply different results in the third quarter. Read More
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