Short Takes: Ocwen Registers More Stock / A 12 Day Wait to Announce / The Fidelity Empire / No Income Verification for Flippers / Norcom Hires Reverse Chief May 30, 2017 Brandon Ivey and Paul Muolo All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.Read More
A Unique Deal from Credit Suisse: A Non-Agency MBS Backed by Seasoned FHA Mortgages May 26, 2017 Brandon Ivey Credit Suisse was a major issuer of post-crisis jumbo MBS, but hasn’t come to market with a jumbo deal since the fourth quarter of 2015.Read More
New Product Watch: Guild’s 1% Downpayment Loan; Stearns Pushes Temporary Rate Buydown May 25, 2017 Brandon Ivey Stearns said that temporary interest rate buy-downs are good for borrowers who expect their incomes to increase in the relatively near future.Read More
Short Takes: Trump Copies Obama’s FHA Tech-Fee Idea / More Wholesale Lenders? / Home Point Deal Progresses / CHLA Presses for FHA Premium Cut / A New Director at Impac Mortgage May 25, 2017 George Brooks, Brandon Ivey, and Paul Muolo When’s the last time a publicly traded mortgage company was sold in a stock transaction? Read More
JPM Packages Jumbos and GSE-Eligible Loans Into a $1.02 Billion Non-Agency MBS May 18, 2017 Brandon Ivey The MBS collateral includes mortgages from several originators, led by wholesaler United Shore Financial Services…Read More
Delinquencies Resume Downward Trend in 1Q17, Slight Uptick in Foreclosure Starts May 18, 2017 Brandon Ivey Among the 32 servicers in Inside Mortgage Finance’s large delinquency index, only two reported an increase in total late payments…Read More
Redwood’s ‘Expanded Prime’ Program Making Inroads May 17, 2017 Brandon Ivey Redwood generally prefers to have multiple execution options. The company is considering issuing MBS backed solely by Choice mortgages.Read More
JPM to End a Two-Month Drought in Issuance of Prime Non-Agency MBS May 16, 2017 Brandon Ivey The size of the pending jumbo deal from JPM has not been disclosed yet, but AMC, Clayton and Opus are working on reviews...Read More
Serious Delinquency Rate Resumes Downward Trend in 1Q17, Slight Uptick in Foreclosure Starts May 16, 2017 Brandon Ivey Marina Walsh, the MBA’s vice president of industry analysis, said mortgage performance has been helped by growth in employment and income...Read More
Jumbo Lending Down 29 Percent in 1Q17: JPM Tops the List… May 15, 2017 Brandon Ivey JPMorgan Chase ranked first in the jumbo production with $10.89 billion…Read More