SEC Scrutinizing Cross Trading of Mortgage Interests April 19, 2019 George Brooks The case is notable because it involves the purchase and sale of mortgage loan participations between private investment vehicles.Read More
Short Takes: Bucking the Origination Trend: BofA and USB / A Strong Quarter for Warehouse Bank Texas Capital / Reliant Hires RoundPoint as a Subservicer / Waterstone in the Hunt for a CEO / A New Hire for Guaranteed Rate April 19, 2019 Paul Muolo A stand-out was Texas Capital's “loans held for investment” program which ended the quarter at $6.30 billion, up 34% from a year ago. Read More
Legislation Introduced to Address VA Orphan Loans April 18, 2019 George Brooks In recent years, the share of VA loans in Ginnie MBS pools has grown significantly...Read More
Short Takes: A ‘Perfect Storm’ Hammered Mortgage Profits / How Bad? Try 2008 / Ocwen Grants CEO Messina Stock Awards / Colony Set to Buy PFB Mortgage / Evolve Hires Former Wells Executive as Mortgage President April 17, 2019 Paul Muolo The negative factors include higher rates, lower originations, and rising expenses, resulting in the lowest net production income per loan reading since 2008...Read More
360 Mortgage Plans Up to $1.0 Billion of No-Income, No-Asset Mortgages April 17, 2019 Brandon Ivey 360 Mortgage is focusing on non-owner-occupied investment properties, which aren't subject to ability-to-repay requirements...Read More
The Next Big Question for GSE Watchers: Dividends April 16, 2019 Paul Muolo But when to end the dividend payments? June, September? Opinions differ.Read More
A Weak Start for Ginnie MBS Issuance April 16, 2019 John Bancroft Ginnie production hadn’t been that low since the second quarter of 2014...Read More
Deephaven Preps its Second Nonprime MBS of the Year April 16, 2019 Brandon Ivey Some 98 lenders contributed mortgages to the $369.73 million nonprime MBS, though only one was identified by rating services.Read More
Expanded-Credit MBS Issuance Hits Record in 1Q19 April 15, 2019 Brandon Ivey Industry analysts expect the mini-boom in non-QM and EC MBS to continue...Read More
Wells Fargo's First Quarter Results Suggest Mortgage Apps are Now Booming April 12, 2019 Paul Muolo Wells' results also suggest that better days are ahead for originators everywhere...Read More