Short Takes: More Investment Funds Salivating Over MSRs / Now BofA is Dumping Commercial MSRs / HLSS Continues to Take Advantage of Cheap Money / More Trouble for Chimera / Ten-Year Treasury Nears a Yearly High May 13, 2013 Paul Muolo Investment funds are continuing to salivate over mortgage servicing rights. Read More
Fannie Pushing Certain Seller/Services to the Cash Window May 9, 2013 Paul Muolo The issue of Fannie Mae encouraging lenders to sell for cash instead of securitizing has been a hot topic over the past few months. Read More
Fannie Will Release DTA, Setting Up $59 Billion Dividend Payment to Treasury May 9, 2013 Paul Muolo and Charles Wisniowski Fannie Mae is set to "give back" $50.6 billion to the U.S. Treasury by June 30, thanks to stellar earnings and accounting treatment of deferred tax assets.Read More
Ocwen Will Sell $162 Million of Preferred Stock May 9, 2013 Paul Muolo Ocwen has registered preferred shares with the NYSE. The sale will benefit WL Ross & Co. Read More
Short Takes: Are Fannie and Freddie Almost Even with the U.S. Treasury? / PennyMac's MB Unit Goes Public / Ocwen Spent $150 Million on Platform / A Bad Sign: Late Payments Are Up / But Home Values Continue to Rise May 9, 2013 John Bancroft and Paul Muolo Will Fannie Mae and Freddie Mac be "even" with the U.S. Treasury by yearend? Also: PennyMac Financial Services goes public.Read More
SEC Approves Shellpoint Shelf, Paving the Way for Prime Quality Non-Agency MBS May 8, 2013 Paul Muolo A company affiliated with MBS co-inventor Lewis Ranieri is moving closer to issuing a security backed by "prime-quality" non-agency loans.Read More
Freddie Posts Huge Earnings for 1Q13, Ponders $30B of Deferred Tax Assets May 8, 2013 Paul Muolo and Charles Wisniowski Freddie Mac has been profitable for six quarters but needs to show positive earnings for six more before it can recapture its deferred tax asset. Read More
Short Takes: $750 Million of NPLs to Bid This Week / Two Harbors in the Hunt for Re-performing / Investors Will Continue to Dump Non-Agency MBS / NAFCU Upset with FHFA Edict on QM / Former Ally Executive Gets Hired by MBS Group May 8, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler A $750 million offering of nonperforming mortgages is expected to go down this week. Meanwhile, NAFCU is mad at FHFA over the QM rule.Read More
Nationstar to Buy Direct-to-Consumer Lender, Increases Flow MSR Goals May 7, 2013 Paul Muolo Nationstar Mortgage is getting serious about the origination business. On Tuesday it revealed plans to purchase a high-volume call center operation.Read More
Caliber Enters the Correspondent Channel, Taps PennyMac Executive May 7, 2013 Paul Muolo Caliber Funding sees a huge opportunity in correspondent lending.Read More