Action on Risk Retention and QRMs Expected in September July 26, 2013 Brandon Ivey The Federal Reserve expects to take further action on mortgage risk retention rules in September. Read More
Treasury Toying with Adjustments to Reduce HAMP Re-Defaults July 25, 2013 Brandon Ivey At the end of April, the re-default rate on HAMP loan modifications topped 46 percent for restructurings completed in 2009. Read More
Short Takes: Delinquencies on OneWest MSR Portfolio Sky High / Norcom Tapping Mini-Correspondent Market / Flagstar Ramps Up Second Liens / Amy Brandt Moves Up July 25, 2013 Brandon Ivey and Paul Muolo Ocwen will have plenty of "high touch" loans to work on when it finally takes control of the OneWest portfolio. Meanwhile, the second lien market is heating up. Read More
Redwood Has Quick Turnaround with Latest Non-Agency Jumbo MBS July 24, 2013 Brandon Ivey The jumbo loans in the new Redwood deal are relatively young. But 72 lenders are feeding mortgages into the security.Read More
Freddie Mac Issues Risk-Sharing Transaction But is Light on Details July 24, 2013 Brandon Ivey Amherst Securities said the risk-share deal was structured in a way that it will likely never take a loss. Read More
JPM Ready to Hit the Market with Yet Another Jumbo MBS Deal July 23, 2013 Brandon Ivey The rating services have raised concerns about the representations and warranties on the new JPM jumbo deal as well as geographic concentration risk. Read More
Short Takes: Skyline Looking for Loan Officers / Highlands Residential Has Applications Pending in Several States / Freddie Mum on Risk-Sharing MBS Deal / Quicken Continues to Push HARP / Democrats Call Hensarling Bill PATH to Nowhere July 23, 2013 Brandon Ivey, Paul Muolo, and Charles Wisniowski The hiring news isn't all bad in mortgage banking: Skyline Home Loans is looking for loan officers and Highlands recently hired some top executives.Read More
First Republic Reduces Non-Agency Loan Sales in Second Quarter July 18, 2013 Brandon Ivey Jumbo originations increased at First Republic Bank, but its mortgage gain-on-sale margin took a hit.Read More
Rising Rates Having Mixed Effect on Home Purchases July 18, 2013 Brandon Ivey The non-cash share of home-purchase financing increased to 71 percent in June from 67 percent in February, based on the three-month moving average.Read More
Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPBs Data Collection Efforts / Bad Debt Up in Value July 18, 2013 Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...Read More