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
Why Aren’t There More Subprime Originations? A Lack of Incentives for LOs, Perhaps? August 3, 2016 Brandon Ivey Caliber has loosened requirements for its nonprime production, making changes to guidelines every six weeks or so…Read More
Short Takes: TIAA Buying EverBank? / PE Firms Own a Large Chunk of EverBank / Mr. Market Likes Nationstar Today / Ocwen Pays Down Debt / NovaStar Files for Chapter 11 August 3, 2016 Paul Muolo and Brandon Ivey At press time Wednesday, the share price of Nationstar was soaring...Read More
Fed LO Survey: Almost 12 Percent of Lenders Doing GSE Loans Loosened Credit in 2Q16 August 2, 2016 Brandon Ivey However, for the six other loan types tracked by the Fed, mortgage underwriting standards were largely unchanged…Read More
Slip Sliding Away: Securitization of ARMs August 2, 2016 Brandon Ivey An estimated $46 billion in ARMs were originated in the first quarter of 2016, down 2.1 percent from the previous quarter…Read More
Short Takes: Freddie Mac, An ‘Earner’ for Uncle Sam / GSE Investors Wonder: When Do We Get Ours? / Top LO Bolts for New Penn / Oaktree’s Non-QM Volume / Ocwen Readies $500 Million ABS August 2, 2016 Paul Muolo and Brandon Ivey Investors in Freddie (and Fannie Mae) common and preferred who bought their shares as a speculative investment are still wondering: Hey, when do we get some of that money?Read More
Quicken Loses Appeal of NLRB Ruling on Confidentiality/Non-Disparage Clauses in Employment Contract August 1, 2016 Brandon Ivey Quicken stated: “The reality is that this decision will have no effect on how we conduct our business.”Read More
Impac Posts Strong Profit Gain; Originations Increased 38 Percent in 2Q16 July 29, 2016 Brandon Ivey Impac said that while it sells production, it is now retaining more than 80.0 percent of its mortgage servicing rights.Read More
Thanks to ‘Brexit,’ Second Half Could be a Humdinger for Loan Production July 29, 2016 Brandon Ivey Rob Branthover, a managing director at Mortgage Industry Advisory Corp., noted that purchase-mortgage originators are doing well…Read More
Top-Ranked Jumbo Issuer Two Harbors Pulls the Plug on its Jumbo Conduit Business July 28, 2016 Brandon Ivey Two Harbors has been a major player on the post-crisis jumbo MBS market and was even the top-ranked jumbo MBS issuer in the first half of 2016…Read More