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
Survey of Real Estate Agents Will Provide Details on the Changing Nature of Lender Referrals January 19, 2016 Brandon Ivey Where Realtors were once the first source of information for homebuyers, increasingly independent mortgage lenders are attempting to provide leads on homes for sale and more...Read More
Residential Lending Could Remain Strong This Year – Thanks Partly to the TRID ‘Backlog’ January 14, 2016 Brandon Ivey Closing delays caused by TRID will push a certain amount of loan production into the first quarter of 2016. But how much?Read More
Short Takes: Another Refi Boom in the Works? It Sounds Crazy But… / Watch the Stocks / A 3.75 Percent 30-year FRM? / BankUnited Kills Retail Home Lending / Weitz Sticks With Redwood Trust / A Correction January 14, 2016 Brandon Ivey and Paul Muolo Yet another funder has pulled the plug on traditional retail mortgage lending, but will remain a correspondent buyer... Read More
Smooth Sailing Ahead for New Breed of ‘Alternative Doc’ Mortgages? January 13, 2016 Brandon Ivey Alternative-documentation verification in the current market typically includes a review of bank statements, W2s, pay stubs, assets and more...Read More
While Many New Originations Haven’t Been Compliant with TRID, Fitch Projects Modest Risk for Non-Agency MBS January 12, 2016 Brandon Ivey The guidance from Fitch could ease some fears among purchasers of non-agency mortgages...Read More
Citi Prevails in Loan Buyback Dispute – Thanks to Contract Language January 11, 2016 Brandon Ivey CitiMortgage filed the lawsuit after Chicago Bancorp refused to repurchase 11 mortgages.Read More