Flagstar Increases Due Diligence Sample Size with Latest Prime Non-Agency MBS June 15, 2018 Brandon Ivey Some rating services have concerns that a 20.0 percent due diligence sample rate is too low…Read More
No Longer No. 1 in Retail, Wells Fargo Plots Growth in Mortgages June 14, 2018 Brandon Ivey Quicken Loans surpassed Wells as the top retail lender in the first quarter of 2018, according to Inside Mortgage Finance. Read More
HomeStreet Reducing Mortgage Staff by 10 Percent Due to Low Demand for Purchase Loans June 14, 2018 Brandon Ivey Last October, HomeStreet cut 60 employees. In May, it put out for bid $5 billion of mortgage servicing rights….Read More
Merrill Lynch Faulted by SEC for Non-Agency MBS Trading Practices from 2009 through 2012 June 13, 2018 Brandon Ivey In settling with the SEC, Merrill Lynch did not admit or deny the findings…Read More
Lenders Pessimistic About Profit Margins for 3Q18, Cuts to Staff Expected June 12, 2018 Brandon Ivey Fannie Mae: “We expect this will prompt businesses to turn to cost-cutting..."Read More
MBS and ABS Issuers Taking Steps to Address Move Away from LIBOR June 11, 2018 Brandon Ivey The banks that report rates that form the basis of LIBOR won’t be required to participate in the survey after 2021…Read More
So Much Home Equity, But Not Much Lending. Reason: Tight Underwriting June 8, 2018 Brandon Ivey Home equity outstanding hit a peak of $13.43 trillion in the first quarter of 2006 then tumbled during the financial crisis...Read More
CFPB, Freddie Mac Separately Urge Mortgage Borrowers to Shop Around June 7, 2018 Brandon Ivey A significant share of borrowers are missing out on thousands of dollars in savings…Read More
MBA Makes the Case to IRS that Lenders are Eligible for 20 Percent Deduction Included in Tax Reform June 6, 2018 Brandon Ivey The trade group argues that if lenders organized as pass-through entities do not receive the new deduction, they will be at a competitive disadvantage...Read More
Competition for Non-QMs Slowing Ellington’s Plans June 6, 2018 Brandon Ivey CEO Laurence Penn said he hopes the flow of non-QM originations will increase…Read More