George Brooks

New York Braces for Tougher Laws on Reverse Lenders

July 8, 2019

Once effective, the requirements of the HECM law are significant, according to Allison Schoenthal, an attorney and partner in the New York office of Hogan Lovells...

Lender Takes Ownership of IO Ginnie Securities

July 3, 2019

George Brooks

Customers Bancorp has obtained ownership of interest-only strips of Ginnie securities backed by HECMs that served as primary collateral for loans made to a nonbank that closed in May.

Around the Industry

July 3, 2019

George Brooks

Congress Eliminates Cap on VA Home Loans

July 3, 2019

George Brooks

Congress withdrew a provision in the Blue Water Navy Vietnam Veterans Act that would have raised the guarantee fee on VA home loans. Instead, it approved the removal of the cap on VA mortgages.

Reverse Mortgage Funding Plans HECM/REO MBS

July 3, 2019

George Brooks

The firm is set to issue a $187.1 million MBS backed by inactive HECMs and real estate-owned properties.

New York to Impose Tighter Standards on Reverse Lenders

July 3, 2019

George Brooks

Originators and servicers of Home Equity Conversion Mortgages need to gear up for tighter standards approved by the state legislature. It has not yet been delivered to the governor.

Ginnie Reinstates loanDepot In Multi-Issuer MBS Program

July 3, 2019

George Brooks

The agency has lifted a suspension of loanDepot from its multi-issuer securities program, noting the nonbank’s prepayment speeds on VA loans have normalized and are strictly being monitored.

Quicken's FHA Settlement a Major Victory and a 'Credit Positive'

July 3, 2019

George Brooks

Resolution of the Quicken-FHA lawsuit is credit positive for the lender as it removes uncertainty arising from prolonged litigation.

MSR Supply, Demand Remain Firm, Experts Say

June 28, 2019

George Brooks

Experts at a recent conference agree that MSR pricing and liquidity in the Ginnie Mae market remain solid although a little off from 2018, when investor appetite seemed insatiable.

Large Banks Underperform vs. IMBs in Retail Space

June 28, 2019

George Brooks

Low revenues, high expenses and trend lines moving in the wrong direction are causing large bank-owned mortgage companies to underperform compared to independent mortgage banks in the retail space, according to a report by Stratmor Group.

George Brooks

ARTICLES

New York Braces for Tougher Laws on Reverse Lenders

Lender Takes Ownership of IO Ginnie Securities

Around the Industry

Congress Eliminates Cap on VA Home Loans

Reverse Mortgage Funding Plans HECM/REO MBS

New York to Impose Tighter Standards on Reverse Lenders

Ginnie Reinstates loanDepot In Multi-Issuer MBS Program

Quicken's FHA Settlement a Major Victory and a 'Credit Positive'

MSR Supply, Demand Remain Firm, Experts Say

Large Banks Underperform vs. IMBs in Retail Space

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