Delinquencies on Non-QM MBS Spike. Impairment Rate North of 16% June 15, 2020 Brandon Ivey Self-employed borrowers had the worst performance, on average, followed by loans for investment properties... Read More
Short Takes: Quicken’s IPO, What Possibly Could Go Wrong? / Rock Solid Origination Margins / Post 2021? / Knock, Knock. Hi, We’re From Wall Street / Calabria’s Wise Observation June 12, 2020 Paul Muolo An island in the COVID-19 storm; Mortgage banking...Read More
Lenders Ponder FHA LLPAs. Reason: Forbearance June 11, 2020 Paul Muolo Others blanched at the price tag and are now pondering whether they should install new loan-level price adjustments, something FHA would not welcome.Read More
17 Trade Groups Tell HUD: How About No Indemnifications for FHA Forbearance Loans? June 10, 2020 Paul Muolo The Mortgage Bankers Association has been silent on the issue, until now... Read More
A Robust CA-CFPB Still in the Works, Despite Anticipated Budget Shortfall June 10, 2020 Yemeng Yang California is expecting a massive budget shortfall because of the pandemic, but remains committed to funding a robust state-level CFPB... Read More
Wells Brings the Second Jumbo MBS Deal of 2Q20 June 10, 2020 Brandon Ivey Wells Fargo is maintaining its steady issuance of jumbo MBS while other issuers largely avoid the market.Read More
Banks See a Huge Drop in Servicing For Others. However… June 10, 2020 Paul Muolo Depositories reported $3.360 trillion of servicing for others on their books at the end of March, down a stunning $244.76 billion from 4Q19... Read More
Credit Scores Reflecting COVID-19 Relief Raise Concern June 9, 2020 Yemeng Yang According to Francis Creighton, president and CEO of the Consumer Data Industry Association, the adoption of the CARES Act went smoothly, but it’s too early to tell what impact the pandemic will have on consumer credit... Read More
Indicted Mortgage Veteran Ron McCord: 'The Truth Will Prevail' June 9, 2020 Paul Muolo Among the charges: McCord bounced checks to more than sixty taxing authorities and borrowers missed making their real estate tax payments...Read More
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