Turmoil at ASF as Board Members and Firms Quit Securitization Group March 5, 2013 Brandon Ivey The American Securitization Forum, a high profile trade group that focuses on MBS issues, is in turmoil with several of its board members quitting. Read More
Credit Suisse Issues Its First Jumbo Deal of the Year, Quicken Product Dominates February 28, 2013 Brandon Ivey Credit Suisse came to market with its first jumbo MBS deal of the year with Quicken Loans dominating the collateral.Read More
Short Takes: Wells Hires Someone to Manage JVs / Cordray Will Be Confirmed? / Ocwen Posts Results but Analysts are Not Impressed / HUD Writing its Own QM Rule for FHA Loans February 28, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler Wells Fargo has not given up on mortgage lending JVs after all and has hired someone to manage them.Read More
Short Takes: The Myth Surrounding Redwoods Delinquencies / Jumbo Loan Prices Red Hot / $30,000 a Year in Flood Premiums? / GSEs Paying Their Subservicers How Much? February 25, 2013 Brandon Ivey and Paul Muolo Jumbo loan prices are red hot.Read More
Servicers Progressing on Robo Relief, But Complaints Continue February 21, 2013 Brandon Ivey The five servicers participating in the $25.0 billion national robo-signing settlement are well on their way toward meeting their obligations. Read More
Redwood Cuts Seasoning with Latest Jumbo MBS February 20, 2013 Brandon Ivey Redwood is in the market with a new jumbo deal, this one with loans that have little in the way of seasoning.Read More
Short Takes: HSBC Planning the Mother of All NPL Auctions? / Robo-Monitor A Bit Tardy On Its Report / Carrington Ramps Up Hiring Big Time / Apps Sink / Angry Law Firm Sues CFPB February 20, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler HSBC is planning a large nonperforming mortgage auction that could happen early in the second quarter.Read More
Short Takes: The QRM Rule: 5% Down? / Jumbo Prices Getting Frothy? / Applications Fall but Dont Panic / MSR Auctions of All Sizes February 14, 2013 Brandon Ivey and Paul Muolo Three senators are pushing for 3 percent downpayment language on the QRM rule.Read More
CFPB Warns Servicers on MSR Transfers, Nonbanks Targeted February 12, 2013 Brandon Ivey The CFPB has warned the mortgage banking industry that it should pay close attention to loss mitigation work when servicing rights are transferred. Read More
JPMorgan Chase Working on Jumbo MBS February 12, 2013 Brandon Ivey and Paul Muolo JPMorgan Chase is working on a jumbo MBS deal but it may place the bond in the the private market. Read More