HUD Issues Final Rule Adjusting Standards for Sales of FHA REOs, Aiming to Obtain Higher Sale Prices August 12, 2016 Brandon Ivey HUD said the final rule will create efficiencies in property disposition and help HUD obtain the greatest value for REO properties.Read More
The CFPB Unveils its Final Servicing Rule and the Industry Groans August 11, 2016 Brandon Ivey Most of the new requirements under the CFPB servicing rule will take effect in a year…Read More
Mortgage Brokers Upset with How CFPB Handled Small Business Panel for LO Comp Rule August 11, 2016 Brandon Ivey Several mortgage brokers believe their industry wasn’t well represented on the panel…Read More
S&P Upgrades Ocwen’s Servicer Ratings, Removing the Threat of a Non-Agency Servicing Transfer August 10, 2016 Brandon Ivey S&P said the upgrade was prompted by improvements to Ocwen’s “control environment,” among other items…Read More
Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae August 10, 2016 Paul Muolo and Brandon Ivey Senior-level mortgage executives are in demand these days, according to one recruiter... Read More
Redwood Boosts Net Income in Second Quarter, Sees Promise in Risk Sharing with Banks August 9, 2016 Brandon Ivey Redwood is working to increase investments in first-loss risk on loan pools delivered to Fannie Mae and Freddie Mac.Read More
FDIC Proposes Standards for Oversight of Third-Party Lending Activities, Including Mortgages August 8, 2016 Brandon Ivey The FDIC said third-party lending is an arrangement that relies on a third party to perform a significant aspect of the origination process…Read More
Two Harbors Readies $380.67 Million Jumbo MBS, and Then Will Exit the Market August 5, 2016 Brandon Ivey The senior tranche of the MBS will include credit enhancement of 6.40 percent, similar to the credit enhancement levels of previous deals from Two Harbors.Read More
PennyMac Has a Blowout Quarter: Income Rises Almost 180 Percent; Record Originations Too August 4, 2016 Brandon Ivey PennyMac is also a large subservicer with $52.0 billion worth of contracts on its books.Read More
Short Takes: PennyMac Financial Strikes Deal on Distressed MSRs / A Loss for the PennyMac REIT / Two Harbor’s Last Jumbo MBS / JPMorgan Chase Readies New Deal / Apps Drop / A New Hire for Silver Hill August 4, 2016 Paul Muolo, Brandon Ivey, and Macie Jones Looks like JPMorgan Chase is getting ready to issue yet another jumbo MBS...Read More