The Ocwen Tally on Servicing Breaches: 482; But Unless the Trustee Acts… March 13, 2015 Brandon Ivey Over the past few years, 482 of Ocwen’s deals have experienced breaches, but the trustee generally did not seek termination of the servicing contract.Read More
Realtors Recommend Specific Mortgage Providers for 55 Percent of Their Deals March 12, 2015 Brandon Ivey When Realtors recommend a lender, homebuyers use one of the anointed originators 68 percent of the time.Read More
CFPB Shines Spotlight on Branch Managers, Cites Violations of LO Comp Standards March 12, 2015 Brandon Ivey Despite the potential seriousness of the allegations, the CFPB did not identify any lenders by name.Read More
Short Takes: Trade Group Wants G-Fees Cut Now / As for Fannie & Freddie Legislation… / What Does Ocwen Do With All That Cash? / Maine Republican Worries about MMIF March 12, 2015 George Brooks, Brandon Ivey, and Paul Muolo Most people who are not in straight-jackets believe the chances of GSE reform by 2016 are pretty much zero. Just in case you were wondering and needed a reminder…Read More
Two Harbors Sticks with Plain Vanilla for its Latest Jumbo MBS March 11, 2015 Brandon Ivey NYCB Mortgage Co. is the top contributor to the jumbo MBS with a 13.5 percent share.Read More
Short Takes: LO Overtime Pay: Just Say No / Always Working? / FHFA Critical of Fannie’s Audit Committee / Fitch Rates Rushmore / Mystery Over Spike in Ocwen’s Share Price March 11, 2015 Brandon Ivey and Paul Muolo The Supreme Court decision on overtime pay for loan officers is just over 48 hours old, but already some companies are fearing the worst...Read More
Non-Agency MBS Outstanding Increased in February. What? March 10, 2015 Brandon Ivey The increase was a rare occurrence: Since 2009 the balance of non-agency debt outstanding has been on the wane. Read More
Short Takes: No Future for Common Shareholders of Fannie and Freddie? / DocMagic Furthers Electronic Closings / BofA MBS Settlement Gets One Green Light / Stonegate Hires Someone with Cha-Cha Experience March 10, 2015 Brandon Ivey and Paul Muolo KBW, by the way, has set a $1 per share price target for both Fannie and Freddie.Read More
Originations of Interest-Only Loans Held Steady in Fourth Quarter, Sort Of March 9, 2015 Brandon Ivey For the full year, PHH Mortgage was the top IO lender in the nation with $12.81 billion in production... Read More
JPMorgan Chase Going for the Jumbo Gold March 9, 2015 Brandon Ivey “We are building a higher quality and less volatile mortgage business,” said JPMorgan mortgage executive Kevin Watters.Read More