PennyMac Founder Kurland Gives Up CEO Position, Stays on as Executive Chairman December 14, 2016 Brandon Ivey Spector will report to Kurland, who founded the PennyMac family of companies in 2008, two years after being forced out of Countrywide Financial Corp. Read More
Details Emerge on New SoFi Jumbo MBS: A $169 Million Deal December 13, 2016 Brandon Ivey No 2016 volume figures were available on SoFi, though last year the privately held nonbank funded $372.2 million, according to one presale report.Read More
Will Higher Rates Crush Originations in 2017? Freddie Mac Thinks So December 13, 2016 Brandon Ivey Freddie Mac believes that refis will decline by 53.0 percent from 2016 to 2017…Read More
‘FinTech’ Firm SoFi Readies its First Non-Agency MBS; Deal will be Stocked with QMs from CA December 12, 2016 Brandon Ivey Some of the debt-to-income ratios in the new SoFi MBS are below 20 percent.Read More
Short Takes: The 10-Year Gets Ugly / Losing Refi Customers / Maybe Mortgage Bankers Should Revisit Their Volume Estimates for 2017 / Angelo Mozilo, a Good Pick for HUD Secretary? / FGMC Hires Former BofA Executive December 12, 2016 Paul Muolo and Brandon Ivey JPMorgan Chase readies its fifth jumbo MBS deal of the year...Read More
Cato Institute’s Mark Calabria Up for the FHA Job? December 9, 2016 Brandon Ivey If Cato's Mark Calabria becomes FHA chief, private MI firms could benefit… Read More
SFIG Members Cite Progress on Non-Agency MBS Reform Effort; But More Work Ahead, Much More… December 9, 2016 Brandon Ivey “That’s a lot of work for an industry that apparently doesn’t exist,” said Richard Johns, SFIG’s executive director.Read More
Subprime Loan Performance Improves, but Servicing Continues to Run Off December 9, 2016 Brandon Ivey Caliber Home Loans was the only subprime servicer among the top 10 to increase its subprime portfolio compared with the third quarter of 2015Read More
Lone Star’s New Nonprime MBS Sets the Standard: An AAA Rating and the Largest Post-Crisis Deal to Date December 8, 2016 Brandon Ivey The loans funded by Sterling and Lendsure entailed the use of bank statements to verify borrower income.Read More
Short Takes: Post-Crisis Non-Agency MBS Gets AAA Rating / Refi Specialists Might as Well Call it a Day? / An IPO for Invitation Homes / Ben Carson in a Museum / FICO Readings on FHA and VA December 7, 2016 Paul Muolo, George Brooks, and Brandon Ivey Refi specialists could be in for a word of hurt...Read More