Short Takes: About that FHA Premium Cut Idea… / Private Money, Not Government Money / 175 Basis Points / MPF Program Turns 20 / Fortress Buys Lender to RE Investors July 21, 2017 Brandon Ivey and Paul Muolo The USMI said in statement that cutting FHA premiums right now is “neither necessary nor prudent at this time...."Read More
New Legal Settlement Will Prove Costly to Ocwen July 21, 2017 Brandon Ivey However, the legal settlement likely will ding sector quarter earnings by $34 millon to $36 million…Read More
After a Lull in Issuance, Strong Demand for New SFR MBS Deals July 21, 2017 Brandon Ivey In a somewhat uncommon move, Progress increased a planned issuance after presale reports on the deal were already published.Read More
Invictus Packages a Variety of Mortgages into Nonprime MBS; Greenbox the Top Contributor July 20, 2017 Brandon Ivey GreenBox was the top contributor to the new nonprime MBS with Sprout Mortgage a close second…Read More
PIMCO: Non-Agency Changes Needed Before GSE Reform July 19, 2017 Brandon Ivey Over the past two years PIMCO has been a major buyer of nonprime/non-QM whole loans in the secondary market…Read More
Short Takes: A Bulk MSR Deal from MountainView / Proposed HUD Lender Fee Is Cut From Spending Measure / Invictus Readies Nonprime MBS Deal / A Promotion at loanDepot July 19, 2017 George Brooks, Brandon Ivey, and Paul Muolo Another nonprime MBS deal is ready to hit the market, this one from Invictus Capital Partners...Read More
Flagstar Bancorp to Issue its First Post-Crisis Jumbo MBS July 18, 2017 Brandon Ivey All of the mortgages Clayton reviewed for the MBS are safe harbor qualified mortgages.Read More
Other MBS Trustees May Follow Wells Fargo’s Lead on Withholding Funds July 14, 2017 Brandon Ivey Analysts at Bank of America Merrill Lynch said the action by Wells was “the most talked about topic” among market participants recently.Read More
Invictus Capital Partners’ Mortgage Unit Set to Issue Second Nonprime MBS July 14, 2017 Brandon Ivey The Invictus Opportunity Fund recently raised $35.56 million in capital.Read More
Wells Fargo’s Withholding of Funds from Non-Agency MBS Investors Prompts Action from Rating Services July 13, 2017 Brandon Ivey The deals are the subject of a lawsuit filed by MBS investors alleging that Wells Fargo failed to perform its duties as trustee... Read More