Delinquency Rates Largely Declining, Foreclosure Timelines a Concern August 16, 2013 Brandon Ivey According to Inside Mortgage Finance, Bank of America has the highest delinquency rate among the nations megabanks. Read More
Freddies G-Fees Significantly Lower Than Fannies August 15, 2013 Brandon Ivey If you're looking for a g-fee bargain, Freddie Mac is offering deals. Well, sort of.Read More
Two Harbors to Issue its First Non-Agency Jumbo MBS August 14, 2013 Brandon Ivey The publicly traded REIT is jumping into the jumbo MBS market with its first deal. Many of the loans come from nonbanks.Read More
Nonprime MBS Holdings by Fannie and Freddie Down 12 Percent August 13, 2013 Brandon Ivey Fannie sold $2.2 billion of non-agency assets in the first half of the year. Meanwhile, Freddie sold at least $1 billion of non-prime MBS in May. Read More
HAMP Activity Declining, Servicers Favor Proprietary Mods August 12, 2013 Brandon Ivey Even with the incentive fees offered by the HAMP program, residential servicers favor proprietary mods.Read More
Redwood Expects to Turn Small Profit on Lower Coupon Jumbos August 8, 2013 Brandon Ivey Redwood Trust said it expects to hit its goal of acquiring $8 billion in non-agency jumbos in 2013, but it wont be easy" company officials said.Read More
Short Takes: Wells Cans 763 Mortgage Workers / Return of the Eminent Domain Jedi? / Delinquencies Continue to Improve / JPM Under the DoJ Microscope Because of Subprime / Bexil Enters NJ Wholesale Space / Wally and Penny Hit Earnings Home Runs August 8, 2013 Brandon Ivey and Paul Muolo Wells Fargo cuts 760-plus mortgage workers. Meanwhile, Bexil American enters the New Jersey market through the wholesale channel.Read More
Two Harbors Loses Money in 2Q, Large MSR Deal in the Works August 7, 2013 Brandon Ivey Two Harbors revealed that it is advanced talks to purchase a potentially significant portfolio of mortgage servicing rights later this year. Read More
BofA Hit with Lawsuits from DOJ, SEC on Non-Agency Jumbo MBS August 7, 2013 Brandon Ivey The SEC said the deal has taken nearly $70 million in losses the greatest loss rate of any comparable securitization from Bank of America. An additional $50 million in losses are expected. Read More
Originations Booming at Nationstar, MSRs Will Top $435 Billion August 6, 2013 Brandon Ivey Portfolio recapture, wholesale, and builder channels accounted for almost 79 percent of its fundings in 2Q. Read More