JPM, Freddie Mac Preparing Separate Securities Backed by Conforming Mortgages July 13, 2016 Brandon Ivey The pending deal from Chase will include 4,122 mortgages, according to a due diligence review by Opus Capital Markets Consultants…Read More
‘Portfolio QM’ Proposal from GOP Faulted by Consumer Advocate, Praised by Lenders July 12, 2016 Brandon Ivey The president and CEO of the Credit Union National Association countered that the current limitations on QMs may disqualify creditworthy members from obtaining a mortgage.Read More
Redwood Adjusts QC Process for Reviewing Jumbo Originations, Prompting Criticism from Moody’s July 11, 2016 Brandon Ivey Redwood believes the new QC process creates a much larger sample size and a more efficient loan quality feedback loop ... Read More
If Mortgage Bankers Need Extra Revenue, They Can Sell Leads to Real Estate Agents July 7, 2016 Brandon Ivey Researcher Tom Popik noted that real estate agents rarely mention lenders as a “favorite” source of leads…Read More
Fitch Says Positive Rating Benefit for Non-Agency MBS with Deal Agent will be Small July 6, 2016 Brandon Ivey The rating service said the expected loss benefit at the AAA level will likely be modest or immaterial for most transactions.Read More
The Final Tally: Prime Non-Agency MBS Issuance a Dud in 2Q16; Just Two Deals July 5, 2016 Brandon Ivey Prime non-agency MBS issuance in the second quarter of 2016 was down by 74.1 percent from the previous quarter.Read More
Short Takes: Can You Spell ‘Prepayment’: Yield on 10-Year Drops to New Low! / Ocwen Clocked Again / CFPB Reveals IO Disclosure Problem / Freddie Sells NPLs / Promotions at BB&T July 5, 2016 Brandon Ivey and Paul Muolo Can rates go any lower than this? Time will tell...Read More
Jumbo Lenders Fixing TRID Errors Based on Non-Binding Guidance from CFPB Seen as Adequate by Moody’s July 1, 2016 Brandon Ivey A limited number of mortgages with TRID errors have already been included in jumbo MBS…Read More
Freddie to Sell Modified Payment-Option ARMs in New ‘Structured Sale’ Pilot June 30, 2016 Brandon Ivey The payment-option ARMs at the center of this pilot program currently are out for bid.Read More
Correspondent Purchaser on the Hook for Fannie AU Fees Tied to One of Its Sellers June 28, 2016 Brandon Ivey In the end, the court blamed NAMC, the firm buying the mortgages from GFS on a correspondent basis…Read More