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
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...Read More
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. Read More
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...Read More
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.Read More