Short Takes: Skyline Looking for Loan Officers / Highlands Residential Has Applications Pending in Several States / Freddie Mum on Risk-Sharing MBS Deal / Quicken Continues to Push HARP / Democrats Call Hensarling Bill ‘PATH to Nowhere’ July 23, 2013 Paul Muolo, Brandon Ivey, and Charles Wisniowski The hiring news isn't all bad in mortgage banking: Skyline Home Loans is looking for loan officers and Highlands recently hired some top executives.Read More
First Republic Reduces Non-Agency Loan Sales in Second Quarter July 18, 2013 Brandon Ivey Jumbo originations increased at First Republic Bank, but its mortgage gain-on-sale margin took a hit.Read More
Rising Rates Having Mixed Effect on Home Purchases July 18, 2013 Brandon Ivey The non-cash share of home-purchase financing increased to 71 percent in June from 67 percent in February, based on the three-month moving average.Read More
Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPB’s Data Collection Efforts / Bad Debt Up in Value July 18, 2013 Paul Muolo, Thomas Ressler, Brandon Ivey, and Charles Wisniowski Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...Read More
Non-Agency Jumbo Issuance Rises in 2Q; But Is a Slowdown on the Way? July 15, 2013 Brandon Ivey Mortgage firms issued $4.34 billion of non-agency jumbo MBS in the second quarter of 2013, with deals from five issuers, both quarterly highs in the new non-agency era. Read More
Little Support in Congress to Return Loan Limits to $417,000 July 15, 2013 Brandon Ivey Legislation unveiled by Rep. Jeb Hensarling, R-TX, would allow for a higher high-cost loan limit than legislation he proposed in 2011. Read More
Short Takes: MBA Chief Warns About an Imperfect Solution / A Rosy Outlook for GSE Reform? What? / Gain-on-Sale Not So Bad / Ocwen Goes After HARP Refis / Nomura Has No Jumbo Conduit July 15, 2013 Paul Muolo, Brandon Ivey, and Charles Wisniowski MBA president Dave Stevens is concerned that events could soon overtake policy makers and force an “imperfect solution” to Fannie Mae and Freddie Mac.Read More
Nomura Enters the Jumbo MBS Arena, Bond Heavy on California Loans July 10, 2013 Brandon Ivey The jumbo MBS market has another new issuer: Nomura. But the credit enhancement on its first deal was increased due to geographic concentration risk. Read More
Springleaf Shifts to Delinquent Mortgages in Latest Non-Agency MBS July 8, 2013 Brandon Ivey As with previous MBS issued by Springleaf, the mortgages in the security were originated by firms owned by Fortress Investment Group.Read More
Credit Suisse Busy Beaver on Jumbo, Issues Yet Another Deal July 2, 2013 Brandon Ivey Credit Suisse issued a non-agency jumbo MBS backed predominantly by seasoned mortgages from First Republic Bank. Read More