Errors in Moody’s Database Prompt Reassessment of Ratings on Nearly 1,000 Pre-Crisis Non-Agency MBS August 30, 2017 Brandon Ivey Problems regarding the ratings of IO tranches of pre-crisis non-agency MBS emerged in June of this year...Read More
Short Takes: Richard Cordray, Still on the Job / Coming Soon: 2Q17 Warehouse Ranking / New Bank Statement Loan Takes Off / Berkshire Now BofA’s Largest Shareholder / A New Hire for Falcon August 30, 2017 Paul Muolo and Brandon Ivey Earlier this month, nonprime lender Citadel Servicing Corp., Irvine, CA, launched a one-month bank-statement program for self-employed borrowers.Read More
Clayton Launches Service to Help Issuers Enter the Non-Agency MBS Market August 29, 2017 Brandon Ivey A growing number of mortgage lenders and aggregators are actively considering entry into the private label securitization market, says Clayton President Jeff Tennyson…Read More
Bayview Mixes New and Seasoned Loans Together for New Non-Agency MBS August 28, 2017 Brandon Ivey Mortgages in the deal were originated by a variety of lenders, none of which were identified…Read More
Inspired by Executive Order ‘Spirit,’ Credit Union Regulator Pushes to Allow MSR Purchases by CUs August 25, 2017 Brandon Ivey Credit unions hold the servicing rights to mortgages they originated but cannot buy MSR contracts in the secondary market…Read More
Regulators Propose Halt of Tougher MSR Capital Requirements for Regional Banks August 23, 2017 Brandon Ivey The proposed suspension generally applies to banks with less than $250 billion in total assets.Read More
Despite Coming Ban, Starwood REIT to Buy Non-QMs with FHLBank Help August 22, 2017 Brandon Ivey Starwood didn’t disclose the volume of non-QMs it has acquired at this point.Read More
Jumbo Lending Increased in 2Q17, but Volume Lagging Last Year’s Pace August 22, 2017 Brandon Ivey Wells Fargo regained the title of the top non-agency jumbo lender in the second quarter, besting Chase…Read More
OCC Sets Process for Banks to Originate Mortgages with LTV Ratios Greater than 100 Percent August 22, 2017 Brandon Ivey The OCC noted that Fannie Mae, Freddie Mac and the FHA all offer loan options aimed at property rehabilitation…Read More
Short Takes: loanDepot’s Hsieh has Some Fun / Fannie’s Forecast / Finance of America Ramps Up Reverses / Jumbo Credit Standards Loosened, Somewhat / New Regional Hires for Silver Hill August 22, 2017 Paul Muolo and Brandon Ivey No update from loanDepot on the IPO, but CEO Anthony Hsieh took some shots at the rumor mill...Read More