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January 4, 2019

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A New Year and a New MBS from Redwood Trust

Servicing will be handled by six different firms with Shellpoint Mortgage Servicing getting a large chunk of the contract… Read More

MBS/ABS Market Ends Year with Lackluster Production. Weakest Reading in Five Years

The biggest reason for the slump: the decline in single-family MBS production by Fannie, Freddie and Ginnie… Read More

Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client

Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae. Read More

Government Shutdown has Little Effect on FHA/VA Loan Programs (So Far)

No disasters have been reported yet, but some lenders are beginning to worry... Read More

What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director

One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus... Read More

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