Broker Market Share of Jumbo Production Slips in 3Q16 December 22, 2016 Brandon Ivey The retail channel accounted for 91.7 percent of Wells Fargo’s jumbo production during the first nine months of 2016…Read More
Freddie Issues its First CRT Securitization Backed by Seasoned Mortgages December 22, 2016 Brandon Ivey The mortgages in the CRT deal have seasoned for an average of 10 years and are serviced by Select Portfolio Servicing.Read More
OCC Warns of Credit Risk as Banks Loosen Underwriting Standards for Mortgages December 21, 2016 Brandon Ivey The OCC’s study covers 85 banks that originate first-lien mortgages…Read More
Fitch Assigns Subprime Servicer Rating to Citadel. Could a ‘Rated’ Nonprime MBS Deal be Next? December 21, 2016 Brandon Ivey The company doesn’t outsource or offshore any of its servicing activities.Read More
Interest-Only Originations Falter (For Some) in 3Q16 December 20, 2016 Brandon Ivey After PHH Mortgage, the other top IO producers in 3Q16 were JPMorgan Chase, First Republic Bank, MUFG Union Bank, and Citibank. Read More
AMC Dominates Third-Party Due Diligence Completed on Non-Agency MBS December 20, 2016 Brandon Ivey Fitch said AMC’s market share of due diligence on non-agency MBS was boosted by the acquisition of JCIII & Associates a year ago.Read More
The NYCB-Astoria Financial Merger is Kaput December 20, 2016 Brandon Ivey Consumer advocates were among the groups that opposed NYCB’s acquisition of Astoria…Read More
Proposals Not Enough to Revive Non-Agency MBS Market December 19, 2016 Brandon Ivey A little less than $10.0 billion in prime non-agency MBS will be issued in 2016, according to estimates by Inside Nonconforming Markets.Read More
Short Takes: PHH Files Layoff Notice with NYS / Jobs Will be Offered to Certain Employees / Altisource Wanted to Buy LPS / Mortgage Network Names New President December 19, 2016 Paul Muolo and Brandon Ivey PHH had been subservicing the loans for HSBC and the new owner of the MSRs had opted to bring the loans inhouse instead of using PHH…Read More
JPM Readies $385 Million Jumbo MBS Packed with ARMs, Including Many Non-QMs December 15, 2016 Brandon Ivey While the deal includes many non-QMs and IOs, along with a “tier 3” representation and warranty framework, the senior tranche of the MBS will include credit enhancement of 5.75 percent.Read More