The Fed of New York Likes What it Sees on ‘Fintech’ July 11, 2018 Brandon Ivey The Fed report focused on the origination of FHA mortgages, which are generally more risky than loans eligible for sale to GSEs…Read More
Moody’s Warns that Non-Agency Underwriting Standards Could Deteriorate July 11, 2018 Brandon Ivey Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...Read More
Verus Affiliate Set to Issue Largest Post-Crisis Nonprime MBS to Date July 11, 2018 Brandon Ivey Roughly 44.6 percent of the loans were underwritten with alternative documentation or bank statements…Read More
Despite Higher Rates, ARMs Slow to Catch On July 5, 2018 Brandon Ivey The top six ARM lenders are all commercial banks, led by Bank of America…Read More
HomeStreet to Sell 20 Percent of its MSR Portfolio to Matrix Financial Services July 3, 2018 Brandon Ivey HomeStreet continues to deemphasize its role in residential mortgages… Read More
A Big Decline for Interest-Only Originations July 3, 2018 Brandon Ivey Among all IO originators, First Republic Bank ranked first with $1.54 billion…Read More
Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal July 3, 2018 Brandon Ivey and Paul Muolo TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.” Read More
Banks Boost First-Lien Holdings in 1Q18 but a Slight Drop at Wells Fargo July 2, 2018 Brandon Ivey The three largest holders of first-liens are Wells Fargo, JPMorgan Chase and Bank of America…Read More
A Deal-Hungry Stearns to Acquire an Equity Stake in Certainty Home Loans July 2, 2018 Brandon Ivey According to sources familiar with the matter, Stearns is looking at other acquisitions as well...Read More
Short Takes: Lending Tree Comes Back Down to Earth / If Mortgage Rates Hit 5 Percent… / WMIH and Nationstar Shareholders Approve / NJ Mortgage CEO and Founder Resigns / Executive Bolts Stewart for WFG July 2, 2018 Brandon Ivey and Paul Muolo LendingTree founder and CEO Douglas Lebda took home total compensation of $59.6 million last year...Read More