The Non-QM Market Has a Problem: Anxiety About Getting Sued September 11, 2015 Brandon Ivey It could be years before many lenders get comfortable offering non-QMs with significant default risk due to the litigation risk.Read More
Moody’s Rates PennyMac’s Servicing Stability as ‘Below Average’ September 10, 2015 Brandon Ivey At mid year 2015, PennyMac was the nation’s 12th largest servicer, according to a ranking from Inside Mortgage Finance.Read More
Momentum Building for Wider QM Standards September 9, 2015 Brandon Ivey The CFPB’s QM standards currently don’t differ for loans held in portfolio or sold to other outlets. Read More
Bank Holdings of First Liens Highest Since 2009 September 8, 2015 Brandon Ivey Jumbo originations have increased sharply since 2008 but only about 5 percent of the loans have been included in jumbo MBS, which means the product is residing in bank portfolios... Read More
Class-Action Lawsuits Against Ocwen and Altisource Dismissed; ‘Puffery’ Not a Violation of Securities Laws September 8, 2015 Brandon Ivey The judge presiding over the case ruled that securities law regulates "disclosure of information, not the mismanagement of a company...” Read More
Short Takes: Collingwood Hires Freddie Single-Family Chief / New Penn is Just ‘Average,’ Says Moody’s / Fannie’s New Index / Black Knight: Home Equity Up $1 Trillion / Promotions at Fidelity September 8, 2015 Paul Muolo, Brandon Ivey, and Carisa Chappell Collingwood's latest hire is Paul Mullins, former senior vice president of single-family lending for Freddie Mac. Read More
GSEs’ Alt A Performance Improves, Losses Persist September 3, 2015 Brandon Ivey Alt A mortgages accounted for 31.3 percent of the credit losses the GSE took through two quarters in 2015.Read More
As Jumbo MBS Activity Fluctuates, Two Harbors Continues Steady Issuance September 2, 2015 Brandon Ivey NYCB Mortgage and George Mason Mortgage are once again top contributors to the REIT's jumbo deals...Read More
Short Takes: Banks Get a Pass From the CFPB / Fannie Sells Special NPL Pool / The ‘Adverse’ Fee is Dead / Fair Housing Suits Revived / Things Not Looking Up for Genworth September 2, 2015 Paul Muolo, Brandon Ivey, and Carisa Chappell The CHLA noted that almost 99 percent of depositories are exempt from exams conducted by the Consumer Financial Protection Bureau. Read More
M&T Settles Allegations That It Used ‘Neighborhood Racial Criteria’ for Mortgage Product September 1, 2015 Brandon Ivey M&T sought a dismissal of the lawsuit in April, claiming that its loan officers were acting based on legitimate, non-discriminatory reasons. Read More