Short Takes: Equifax Includes FHA in its ‘Subprime’ Numbers / When is Subprime Not FHA? / It Appears PHH is Trading at a Discount / A Jumbo Loan for the Playboy Mansion? / President Trump Might Free the GSEs February 1, 2016 Brandon Ivey and Paul Muolo Super-jumbo lenders take note: Hugh Hefner’s Playboy mansion is now officially for sale.Read More
Short Takes: The Top Mortgage Performer Is… / And the Lender with the Weakest Growth Is… / New Jumbo MBS From WinWater Offers Investors a Choice / Promotions at Mortgage Master January 28, 2016 Brandon Ivey and Paul Muolo Analysts continue to believe that PHH's shares are undervalued based on “book” price…Read More
Milwaukee to Receive Donations, ‘Enhanced’ Loss Mitigation from Ocwen After City Officials Raise Concerns January 27, 2016 Brandon Ivey The publicly traded nonbank also will consider donating REO to the city...Read More
Short Takes: Relief for the MI Industry? / The GOP Would Love to Cut HUD’s Staff / FHA Under Bernie Sanders? / WinWater’s New Jumbo MBS / AIG Finally Comes Clean on UG January 27, 2016 Brandon Ivey and Paul Muolo The House Financial Services Committee also has some unkind words for the Department of Housing and Urban Development and its 7800-plus workers...Read More
Florida Lender Launches Non-QM Products for Brokers, Touts ‘Limited Doc’ January 26, 2016 Brandon Ivey Loan amounts of up to $2.0 million are allowed under the program, though in certain cases A&D will go as high as $5.0 million. Read More
Megabanks Show Decent Rise in Mortgage Profits for 2015 January 23, 2016 Brandon Ivey But all is not rosy. At JPM, mortgage servicing balances continue to decline and the bank’s executives expect production margins will compress as origination volumes diminish…Read More
Ocwen Settles With the SEC Over MSR Valuations January 21, 2016 Brandon Ivey The SEC said Ocwen improperly used MSR valuations performed by Home Loan Servicing Solutions, a related party to which it sold the MSRs.Read More
Short Takes: Hedge Fund Chief Reduces Personal Stake in Ocwen / More on the OCN-SEC Settlement / Redwood Remains an Investor in GSE Credit-Risk Deals / MGIC Will Change MI Pricing / Sharga Gets Promotion at Ten-X January 21, 2016 Brandon Ivey and Paul Muolo MGIC CEO Patrick Sinks noted that the mortgage insurer will be revising its premium rate cards soon. Stay tuned...Read More
Impac Re-Hires Pre-Crisis Chief Credit Officer to Boost Originations of Non-QMs January 20, 2016 Brandon Ivey Impac is working to increase originations of non-QMs as part of an effort to mitigate against reduced refinance volumes.Read More
First Republic the Top Jumbo MBS Contributor, Quicken No. 2 January 19, 2016 Brandon Ivey Jumbo MBS issuers are not required to identify lenders that contribute less than 5.0 percent of the loans to any particular deal.Read More