Short Takes: Are Investors Done Selling Ocwen’s Stock? / Who Might DocMagic Buy Next? / How is CitiMortgage Like Ocwen? / CFPB Budget Rises / Fannie Mum on Reinsurance Partners December 10, 2014 Paul Muolo, Thomas Ressler, and Brandon Ivey But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…Read More
Nonprofits Complain About Losing GSE, FHA NPL Auctions to Hedge Funds December 9, 2014 Brandon Ivey Many of those winning bidders are hedge funds with Wall Street backing, including Lone Star Funds and Bayview Asset Management.Read More
Short Takes: A Bond Backed by 10-Year-Old Alt A Loans / CalCap Expands into Arizona / Ocwen Gives a Nice Raise to CFO / A No PMI Loan From Stonegate / Sherwood Gets Prez Job at NMI December 9, 2014 Paul Muolo and Brandon Ivey Ocwen Financial, whose stock has been clobbered this year, recently increased the base salary of its chief financial by $50,000...Read More
NAR: Non-QM Share of Residential Originations Growing December 8, 2014 Brandon Ivey However, NAR found that the willingness to actually originate non-QMs declined significantly across a number of different product types...Read More
Short Takes: CFPB Examining Pre-Approval Letters Now? / CFPB ‘Consumer Narratives’ Still an Issue / Caliber Loosens Credit Even More / The Lawsky Question / FHA Weighs in on Loan Limits December 8, 2014 Paul Muolo, Thomas Ressler, and Brandon Ivey Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.Read More
Modest Sequential Increase in Jumbo Production for 3Q December 7, 2014 Brandon Ivey However, through the first nine months of 2014, jumbo originations haven’t been able to keep up with the strong pace set last year.Read More
With Money to Burn, Treasury Increases Incentive Payments for HAMP Borrowers December 5, 2014 Brandon Ivey Under the changes, the amount of relocation assistance available for short sales and deeds-in-lieu more than tripled to $10,000.Read More
Philly Fed: So, Maybe Mortgage ‘Cramdowns’ Aren’t So Bad December 4, 2014 Brandon Ivey The Philly Fed argues that a mortgage "strip-down" could make homeowners better off and not harm lenders.Read More
Treasury’s OFR: Standard Used for QRMs Wasn’t Meant to Protect Lenders or Investors December 3, 2014 Brandon Ivey The Treasury Department noted that QRM standards do not include requirements for loan-to-value ratios. Read More
WinWater Set to Issue Its Third Jumbo MBS, FirstKey Helps Aggregate December 2, 2014 Brandon Ivey Prospect Mortgage is the top contributor to the deal with an 11.2 percent share of the collateral.Read More