FHFA’s Watt: I’m Not Presuming ‘Abuse’ By Captives That Want to be FHLB Members February 13, 2015 Paul Muolo Roughly 18 current members of the FHLBanks are affected by the proposed ban, seven of which are mortgage real estate investment trusts.Read More
What We’re Hearing: Mystery Now Surrounds Sen. Johnson’s CFPB Letter / 46 Exams Sounds Like a Lot, but Is It? / Did HLSS Tell Mangrove to Take a Hike? / The Return of Fat Loan Officer Bonuses? February 13, 2015 Paul Muolo From what we understand, HLSS told Mangrove to take a hike…Read More
RoundPoint Mortgage Headed for the Auction Block February 12, 2015 Paul Muolo One source contends that “several” potential acquirers have already taken a look at RoundPoint.Read More
Radian DTA Recapture of $815MM Boosts 4Q Earnings; MI Written Drops February 12, 2015 Paul Muolo Radian disclosed that its mortgage insurance division wrote $10.0 billion of new policies during 4Q, an 11 percent sequential decline.Read More
Short Takes: Mangrove to Reveal HLSS Director Nominees / MountainView Selling MSRs / SLS in MSR Deal with JPM / Please Don’t Come to Chicago / First Alliance Hires Former Nationstar Official February 12, 2015 Brandon Ivey and Paul Muolo A 50-year tradition is now kaput: The Federal Reserve Bank of Chicago has cancelled its annual bank structure conference... Read More
Cherry Hill Mortgage REIT Buys Mortgage Company; Will Leverage MSRs February 11, 2015 Paul Muolo Stan Middleman, chairman of CHMI, told IMFnews that having agency approvals will allow the REIT to leverage servicing rights...Read More
Securitization of Nonprime and Non-QM Loans Looking Doubtful for 2015 February 11, 2015 Paul Muolo Bayview is purchasing from a network of correspondent sellers roughly $10 million per month in loans that don’t meet the QM test defined by the CFPB.Read More
Short Takes: HUD’s Castro Presents the Math / How Much?/ The Market for FHA Streamline Refis / Citadel Rolls Out ‘Alt A’ Product Named After a Dog / Arvest Mortgages Gets a New CEO February 11, 2015 Paul Muolo Citadel Servicing Corp., which has made a name for itself as a new-style subprime lender, has rolled out an Alt A mortgage called “Maggi.”Read More
FHA Working on a ‘Grid’ That Could Protect Lenders From Paying Huge Damages Due to ‘Manufacturing Defects’ February 10, 2015 Paul Muolo A proposal from FHA could see the light of day within six weeks, some have speculated.Read More
Liquidity Requirements in FHFA Proposal a Concern for the Industry February 10, 2015 Paul Muolo Marina Walsh, vice president of industry analysis for MBA, said, “We don’t have enough information to do a thorough analysis of the proposal.” Read More