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 Paul Muolo, George Brooks, and Brandon Ivey 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
Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire January 21, 2015 Paul Muolo and Brandon Ivey Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…Read More
Altisource Defends Ties to Ocwen, Cuts Staff; Stock Soars January 16, 2015 Brandon Ivey Altisource recently eliminated 800 employee positions and hundreds of contractors. Read More
Lenders Preparing for a Refi Boom(let)? Looks That Way January 16, 2015 Brandon Ivey At press time, the yield on the 10-year Treasury was at 1.80 percent, the lowest level since May 2013.Read More
REITs Cite Disadvantages Due to FHFA Moratorium on Captive Insurers January 14, 2015 Brandon Ivey Stan Kurland, PennyMac’s chairman and CEO, said the FHLB application for PMT Insurance has been on hold since it was submitted.Read More
Short Takes: New Jumbo Deal from Two Harbors / Now for a Nice Word on Ocwen / Maybe Bill Erbey Will Buy…Nah… / What Will Altisource Say? / The 2015 GSE Scorecard is Out January 14, 2015 Paul Muolo and Brandon Ivey One servicing advisor raised an interesting scenario Tuesday: Maybe Bill Erbey will swoop in and buy all of Ocwen’s shares and take the whole thing private.Read More
Strong Opposition to FHFA Proposals on FHLB Membership January 13, 2015 Brandon Ivey The Council of Federal Home Loan Banks said the FHFA has shown “no compelling need” for the proposed changes to membership standards. Read More