IMFnews

October 19, 2018

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New Residential Issuing Non-QM MBS with Loans from New Penn

In total, 54.0 percent of the loans were underwritten using bank statements… Read More

Non-Mortgage ABS Production Down Sharply in 3Q18

Most of the third-quarter slippage occurred in the business-finance category, where ABS production tumbled 51.2 percent... Read More

The Money Source Takes Aim on Subservicing

TMS President Ali Vafai said there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables. Read More

Aging IT Systems a Major Concern for FHA, VA and USDA

FHA is running on a 40-year old IT system… Read More

What We’re Hearing: One Last Criticism from Jeb Hensarling Regarding the FHFA / In Agreement on 80 Percent / Departing Fannie, Freddie Directors May Pose a Challenge / Two Major Concerns: Originations and Profit Margins / Plaza Home Wants AEs / Bill Ashmo

The FHFA IG says "a number" of director positions at Fannie and Freddie are set to expire: "Changes in leadership can lead to a lack of attention to internal controls..." Read More