‘Digital’ Lender Better Mortgage Triples Originations January 17, 2019 Brandon Ivey Better said the company’s LOs originate an average of 40 loans per month versus the industry average of 4.2 loans... Read More
Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton January 17, 2019 Brandon Ivey and Paul Muolo The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...Read More
JPM Packs GSE-Eligible Collateral into a $978 Million Non-Agency MBS January 16, 2019 Brandon Ivey Roughly 42 originators are providing collateral for the JPM MBS…Read More
First Republic Bucks the Trend and Increases Mortgage Originations January 15, 2019 Brandon Ivey Jumbo mortgages account for the vast majority of First Republic’s single-family production.Read More
Redwood Set to End Lull in Prime Non-Agency MBS January 14, 2019 Brandon Ivey The Redwood transaction is set to close Jan. 17…Read More
Short Takes: Shutdown Having Minimal Impact on Mortgages? / Housing Market Slowing / AMC Acquires Meridian Asset Services / Broker Startup Launches January 14, 2019 Brandon Ivey The IRS resumed providing income verification services a week ago and the agency expected to catch up on volume...Read More
CFPB Report Raises Questions about Non-QMs, DTIs, Servicing and More January 11, 2019 Brandon Ivey and Yemeng Yang The CFPB determined the ATR rule has reduced lending to some extent to borrowers with high debt-to-income ratios…Read More
Lenders Not Liable for a Servicer’s RESPA Violation January 11, 2019 Brandon Ivey Under RESPA, servicers are generally required to consider borrowers for loss mitigation if the servicer receives a loss mitigation application at least 37 days before a scheduled foreclosure sale.Read More
New Residential Looks to be a Frequent Issuer of Non-QM MBS, Preps Latest Issuance January 10, 2019 Brandon Ivey New Residential also will buy non-QMs from lenders other than New Penn... Read More
Signs of Life in the MH Market: AZ Servicer of Manufactured Housing Loans Receives Rating, MBS Issuance Likely January 9, 2019 Brandon Ivey Cascade services $1.3 billion of product…Read More