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Short Takes: Slow Progress at States on Nonbank Standards / Home Prices Essentially Flat / Ginnie to Expand MBS Disclosures / Arvest Loses Servicer Rating

May 30, 2023
Brandon Ivey
Minnesota becomes the fifth state to adopt the CSBS's model framework for nonbank prudential standards...
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Short Takes: GSE Ratings on Downgrade Watch / Interest Rates Rise / Non-QM Performance Choppy

May 26, 2023
Brandon Ivey
The ratings of the GSEs are linked to ratings for the U.S., which are also on watch for downgrade amid an approach to breaching the debt ceiling.
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FHA Plans to Expand Loss-Mitigation Options

May 25, 2023
Monica Hogan
FHA's partial claim option isn’t working well enough, according to FHA Commissioner Julia Gordon.
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Proposals to Help Nonbank Ginnie Servicers

May 24, 2023
Paul Muolo
The fear is that if delinquencies rise significantly, nonbanks will have a tough time making the required advances to investors in Ginnie MBS.
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Short Takes: CHLA Seeks Friendlier Buyback Policy / The Servicing Hedge / New eMSR Exchange / Spring Homebuying Season Starts When?

May 19, 2023
Brandon Ivey
CHLA called on the GSEs to offer indemnification rather than a repurchase request for any performing loan with defects.
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Court Sides with Ocwen in Dispute with CFPB

May 18, 2023
Sam Manas
Ocwen entered into a consent judgment with the CFPB that lasted from February 2014 to February 2017.
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Banks’ Mortgage Earnings Improve in First Quarter

May 16, 2023
John Bancroft
Mortgage earnings at banks bounced back after a dismal fourth quarter.
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Short Takes: 14 Million Refis / MSRs for Sale / New CRT From Freddie / Forbearance Dwindles

May 16, 2023
Brandon Ivey and Paul Muolo
About one-third of total mortgage debt outstanding refinanced during the pandemic when interest rates were exceptionally low...
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Colonial Ponders Selling MSRs as Bank Exodus Continues

May 11, 2023
Paul Muolo
More banks are considering leaving the residential lending/servicing sector or scaling back. Will these decisions, made during tough times, come back to haunt them?
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A Long Shot of Sorts: Rithm Spinning Off Its Mortgage Company

May 11, 2023
Paul Muolo
Mortgage REIT Rithm wants to unlock the market value of its mortgage banking franchise by spinning off the unit into its own publicly traded company. A serious idea or a ploy to juice the share price of the parent?
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