MBS Prices Spike As Yield on 10-Year Treasury Hits Four-Year Low; What’s Next? February 12, 2016 Paul Muolo The bid price on the FNMA 3.50 bond has become so frothy that some investors are shorting the security...Read More
Falling Rates Make MSR Sales Problematic – for Now February 12, 2016 Paul Muolo Declining interest rates are making some bidders think long and hard about MSR pricing...Read More
What We’re Hearing: A 2.50 Percent FRM? / Hayman Out of PennyMac / Manny Friedman Losing the Love for PHH? / Sick of Hearing About Quicken’s ‘Rocket’ Mortgage? / CFPB Ready to Give Secondary Market Relief on TRID? February 12, 2016 Paul Muolo Meanwhile, EJF Capital, the private equity firm headed by Manny Friedman, has dumped a large chunk of its stake in PHH...Read More
MountainView Selling $7.2B of MSRs, Prestwick Out with Large ‘Flow’ Deal February 11, 2016 Paul Muolo Rates are still falling, but MSR packages continue to hit the auction block...Read More
Nonbank Selling $10 Million of ‘Scratch & Dent’ TRID Loans February 11, 2016 Paul Muolo A trader who plays in the market confirmed the $10 million figures to IMFnews.Read More
Short Takes: Clayton Holdings Set to Name New Cap Markets Chief? / Blackstone Ready to Make a Major Hire? / Strong MI Growth for Arch / Morgan Settles Mortgage Charges with Uncle Sam / FGMC Picks TPO Chief February 11, 2016 Paul Muolo At year-end, Arch MI had $6.83 billion of risk-in-force...Read More
With Blackstone’s Blessing, Incenter Agrees to Buy Servicing Broker Interactive Mortgage Advisors February 10, 2016 Paul Muolo In the fourth quarter, IMA sold $30 billion of mortgage servicing rights for its clients...Read More
Redwood Trust Pulls the Plug on Its Commercial MBS Conduit, More Layoffs February 10, 2016 Paul Muolo Redwood noted that although it is quitting commercial mortgage production, it will continue to “opportunistically invest in mezzanine and subordinate CMBS tranches that meet our risk/return profile.”Read More
Short Takes: Everything’s Coming Up Blackstone / Odds Increase for an FHA Premium Cut? / Volatile Rates a GSE Problem? / U.S. Bank No Longer Facing Servicing Restrictions / Correction on Redwood Numbers February 10, 2016 George Brooks, Brandon Ivey, and Paul Muolo Falling rates are great for the mortgage industry, right? Yes and no...Read More
The Emotional Relief Provided by the CFPB’s ‘Clarifying’ Letter Has Since Faded February 9, 2016 Paul Muolo For now, the CFPB isn't talking about the matter...Read More