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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…

 


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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…
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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...


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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…”


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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.


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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.


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Short Takes: Layoffs at Fannie, Freddie JV / The CSS Mission / Good for Now, Yes. Later? / Ocwen CGO Files Form 4 / A Past, Bullish Sign

December 2, 2019
Paul Muolo

CSS is the platform created by the GSEs to develop the uniform MBS, the common security now used by the two mortgage giants...


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Provident Funding Packing Non-Agency MBS with Standard GSE Mortgages

November 26, 2019
Brandon Ivey

Unlike other non-agency MBS with GSE-eligible loans, the deal from Provident is concentrated on standard mortgages for primary residences.


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Neuberger Berman Makes Some Tweaks with Latest Non-QM MBS

November 25, 2019
Brandon Ivey

Previous MBS from Neuberger Berman included investment-property mortgages underwritten using rental income...


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CFPB Issues Report on Residential Servicers. Key Finding: Behemoths Rule

November 22, 2019
Paul Muolo

Among the report’s conclusions: Small servicers tend to focus on mortgages in non-metro or rural areas. Also, small servicers are less likely than larger shops to process loans backed by Fannie Mae and Freddie Mac.


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