Fitch: Ratings Not a Major Factor when Trying to Switch Servicers of Non-Agency MBS January 29, 2015 Brandon Ivey More commonly, servicer event of default clauses are tied to the servicer’s financial condition...Read More
FHFA Chief Defends Agency’s Work on the Common Securitization Platform January 28, 2015 Brandon Ivey “The industry seems to be cut out of some of the development of the securitization platform,” said Rep. Scott Garrett, R-NJ...Read More
Short Takes: GSE Principal Reduction Rears Its Ugly Head Again / GOP Continues Close Scrutiny of the CFPB / Mr. Cordray, Stop Tearing Down Those Walls / IMA Selling Ginnie Servicing / S&P May Settle for $1.37 Billion January 28, 2015 Brandon Ivey, Paul Muolo, and Thomas Ressler According to the IMA offering circular, the seller is a “Southwest, independent mortgage banking entity with strong financials and a highly experienced senior management team.” Read More
FHFA Will Make G-Fee Announcement by the End of March January 27, 2015 Brandon Ivey The FHFA is still evaluating input regarding g-fees and but Watt has no idea if they will be reduced, increased or kept at their current levels.Read More
Ocwen Fights Back, Blasts Latest Claims from Non-Agency MBS Investors as ‘Baseless’ January 26, 2015 Brandon Ivey Ocwen denied that there is any basis for a default under the trust agreements...Read More
Short Takes: Titan Says: Give Us Your Rejects / Ocwen Rising / UWM Rolls Out LOS Platform / DocMagic Keeps Software Developers Happy / Leon Loves Altisource? January 26, 2015 Brandon Ivey and Paul Muolo Thanks to its settlement with California regulators, Ocwen's share price is on the rise. But for how long?Read More
First-Time Buyers Accounted for 43 Percent of Agency Purchases in 2014; Wells Dominant January 22, 2015 Brandon Ivey Just over $224 billion of mortgages to first-time homebuyers were included in agency MBS issued in 2014, according to figures compiled by IMF.Read More
Redwood Set to Issue Another Jumbo MBS with Non-QMs January 22, 2015 Brandon Ivey First Republic Bank is the top contributor to Redwood's new jumbo deal with a 31.7 percent market share.Read More
Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update January 22, 2015 George Brooks, Brandon Ivey, and Paul Muolo Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...Read More
S&P Settles Charges Regarding Ratings for Commercial MBS, Non-Agency MBS January 21, 2015 Brandon Ivey In settling, S&P did not admit or deny any of the allegations levied against the firm. Read More