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Home » Authors » George Brooks

Articles by George Brooks

HECM Lending Spiked in 4Q, but Down for the Year

March 9, 2015
George Brooks
Reverse volume leader American Advisors Group funded $2.0 billion in 2014, giving it a market share of 14.7 percent.
Read More

Ginnie Mae Facing Accounting Restatement Thanks to TBW Mess

March 4, 2015
George Brooks
Ginnie is currently managing TBW’s FHA portfolio and hopes to sell its Ginnie servicing rights sometime this year.
Read More

Short Takes: Gone But Not Forgotten: MetLife’s Mortgage Unit / BB&T Facing Heat from DOJ and HUD OIG / Walter Optimistic, but Investors Aren’t / The ‘Father’ of the CFPB: President Jimmy Carter

February 26, 2015
Paul Muolo, Thomas Ressler, and George Brooks
Although Walter Investment Management lost a ton of dough in 2014, it sees brighter days ahead...
Read More

Ginnie Servicing Rights Top $1.5 Trillion but Growth Slows

February 25, 2015
George Brooks
PennyMac Loan Services, the only nonbank to rank among the top five, had one of the strongest growth rates with 56.7 percent.
Read More

HUD Pushing for Authority to Force Servicers to Use Subs for High-Touch Product

February 25, 2015
George Brooks
Last year, House appropriators turned down a request that would have allowed the FHA to charge a fee of 2 to 4 basis points to lenders prospectively...
Read More

VA to Issue Final ‘Qualified Mortgage’ Rule in May

February 23, 2015
George Brooks
Total points and fees may not exceed 3 percent of the total loan amount for loans of $100,000 or more.
Read More

Short Takes: A Nice Bump for Ocwen’s Share Price / Will Ocwen Unload Non-Agency MSRs Too? / CashCall’s Non-QM Loan / Fidelity Grows Revenues 21 Percent

February 23, 2015
Paul Muolo, George Brooks, and Brandon Ivey
In case you’re wondering, Ocwen services roughly $208 billion of non-agency product.
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VA Loan Production on a Tear in 4Q, But Agency Light on Details

February 19, 2015
George Brooks
John Bell, assistant director for loan policy at the VA Home Loan Guaranty Service, said VA streamline refinancings rose 18 percent year over year...
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HUD Delays HECM Financial Assessment Requirement

February 19, 2015
George Brooks
Issued in November of last year, the requirement was slated to apply to all HECM mortgages with case numbers issued on or after March 2, 2015.
Read More

M&T Faces Lending Discrimination Charges in New York

February 13, 2015
George Brooks
The Fair Housing Justice Center accused M&T Bank of violating the Fair Housing Act by offering higher loan amounts to white borrowers and allowing more flexible criteria...
Read More
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