Browse articles from IMFnews related to Servicing.

March 26, 2019 - IMFnews

Short Takes: Stearns Issues Expensive Debt / Counter-Cyclical? Not Always / MSR Impairments a Factor / Alterra Seeks a Controller / CFPB Taking Advisory Board Applications

Usually, mortgage banking is a counter-cyclical business, but not always...

March 26, 2019 - IMFnews

MBA Research: A Net Origination Loss of $200 Per Loan in 4Q18

Added MBA’s Walsh: “On the servicing side of the business, mortgage servicing impairments resulting from December’s drop in interest rates hurt profitability.”

March 26, 2019 - IMFnews

Hearings Commence on GSE Reform. NAHB Worries About ‘Administrative’ Changes, Academic Trashes Crapo’s Ideas

Georgetown Law Professor Adam Levitin: “I am deeply concerned about the basic direction of the chairman’s housing-finance reform proposal outline..."

March 25, 2019 - IMFnews

Short Takes: The Mueller Report, the Legislative Calendar and the GSEs / No Kumbaya Moment Here / Let the Administrative Changes Begin / Better Enters FHA Market / The Market Doesn’t Love Us, So We’re Selling

And that means: two more years of hyper-partisan bickering on both sides and legislation only getting passed if there’s a bi-partisan consensus or a national emergency...

March 25, 2019 - IMFnews

Passive MSR Investors Asked to Register. A Big Deal or Ho-Hum?

In Ohio, a passive investor must obtain what’s called a residential mortgage lending certificate of approval.

March 25, 2019 - IMFnews

Fourth Quarter Income Down Sharply for Publicly Traded Nonbanks

Two nonbanks that have been steady earners reported significant losses during the fourth quarter…

March 22, 2019 - IMFnews

CFPB Makes Changes to Advisory Boards, Reversing Decisions Made by Mulvaney

The bureau plans to extend the terms of half the current members in order to achieve the staggered terms and ensure continuity.

March 21, 2019 - IMFnews

Short Takes: The Supremes Rule on Foreclosures and the FDCPA / It’s Good to be King, Unless You’re the CEO of Freddie Mac / Angel Oak Bolsters Office Space Big Time / Tennessee Bank Looking for Non-QM Loans / Two New Directors for Fannie / Correction: Freddie CEO, Not Fannie

Based on Freddie’s annual profits, CEO Don Layton is probably one of the two most underpaid bosses in the world of finance. Soon that distinction will belong to David Brickman...

March 21, 2019 - IMFnews

Agency Servicing Grows in 4Q18 but Banks Say No to the Party

The only soft spot was in the servicing for non-agency mortgage-backed securities…

March 19, 2019 - IMFnews

Prestwick Offers Up Fannie Mae MSR Portfolio on Behalf of Michigan Bank

The servicing package has an average FICO score of 740 and delinquencies of 1.94%.

March 19, 2019 - IMFnews

Strong Growth for Jumbo Servicing in 2018

Wells Fargo, JPMorgan Chase and Bank of America had a combined jumbo servicing market share of 61.4% at yearend, according to figures compiled by Inside Nonconforming Markets…

March 18, 2019 - IMFnews

Worried About Risk, FHA Seeks to Mitigate Decreasing Credit Scores, More…

Changes to the agency’s TOTAL Mortgage Scorecard, go into effect March 18...

March 15, 2019 - IMFnews

What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book

An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…

March 15, 2019 - IMFnews

A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs

In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.

March 14, 2019 - IMFnews

SBC Chairman Crapo Schedules Two Days of Hearings on GSE Reform

NAR would like to see Fannie and Freddie restructured as tightly regulated shareholder-owned utilities...

March 13, 2019 - IMFnews

Phoenix Capital and MIAC Unveil New MSR Auctions

MIAC is also ready to take final bids on a $315.3 million Fannie/Freddie/Ginnie Mae MSR portfolio…

March 11, 2019 - IMFnews

Short Takes: Impac, Better Late Than Never / Wall Street Roots / An Early Start to Spring Home Buying? / Sprague Departs Phoenix Capital for STRATMOR Consultancy

An early start to the spring home buying season?

March 11, 2019 - IMFnews

Banks Boosted ‘Servicing for Others’ in 4Q18. However…

The top four banks in servicing for others all reported declining balances…

March 11, 2019 - IMFnews

MSR Auction Market Red Hot

Mark Garland, executive vice president at MountainView Financial Solutions, also sees a robust market developing this year…

March 6, 2019 - IMFnews

Short Takes: Ben Carson to Leave HUD After 2020 Election? / CFPB Hearing / Home Price Appreciation Slows / Mortgage Applications Down / Pinto’s Housing Finance Reform Plan

Housing and Urban Department Secretary Ben Carson said he is planning on leaving his post at the end of President Trump’s first term ...

March 4, 2019 - IMFnews

Short Takes: Pondering the Letter Sent to Joseph Otting / Among the Signors… / More MSR Auctions in the Works / MetLife Has a Nice War Chest of Whole Loans / A New Hire at Gateway Mortgage

More servicing-related auctions are in the pipeline, including a $2.97 billion Fannie Mae/Freddie Mac portfolio from Phoenix Capital...

March 4, 2019 - IMFnews

Feds and Florida Seek to Merge Ocwen Lawsuit

Seeking a merger of the complaints, federal and state regulators now believe their cases overlap sufficiently regarding questions of law and fact…

March 1, 2019 - IMFnews

What We’re Hearing: Throwing Down the Gauntlet on Fannie-Freddie Changes / 27 Trades Sign On / Not One Voice of Concern? / Freddie’s MSR Pilot? / Fixing the Broken Companies / Eli Global and Greg Lindberg Back in the News / Busy Being Named a Director

Is the Senate Banking Committee ever going to hold a hearing on GSE pilot programs?

March 1, 2019 - IMFnews

Mortgage-Investing REITs Pony Up to the Stock Bar

Mortgage-investing REITs aren’t shy about selling additional shares of common to the public…

February 28, 2019 - IMFnews

Short Takes: A Mega Servicing Deal Approaching? / ‘Goldilocks’ Pricing / The Ditech Portfolio? / Fannie & Freddie Common Take a Rest / FHFA’s Final UMBS Rule / Bell Bank Opens AZ Branch, Mortgages on the Menu

The share price of Fannie Mae and Freddie Mac common has been on a mild downward slope since Feb. 22. Meaning?

February 28, 2019 - IMFnews

Purchase Loans Dominate in 2018, Refi Share Rises in 4Q18

The purchase-mortgage share reached 70.6%, the highest reading since 1990...

February 28, 2019 - IMFnews

Borrowers Averse to Refis, Even When They’re Free

The study looked at why borrowers would turn their noses up at free money…

February 27, 2019 - IMFnews

Short Takes: HomeBridge Eyes HomeStreet’s Mortgage Network / As for the Mortgage Servicing Portfolio… / Figuring Out the Calabria Vote / A Rally for Ocwen / A Red Hot MSR Market / A Glum Assessment on Mortgages from Joe Garrett & Co.

Ocwen's share price took off like a rocket Wednesday morning...

February 27, 2019 - IMFnews

SFIG Speakers Expect Administrative Reform of the GSEs. Capital Build? Yes

Michael Stegman: “Clearly, there is going to be some kind of capitalization of the GSEs..."

February 27, 2019 - IMFnews

A Small 4Q18 Loss for Ocwen Amid MSR Buys, a Compensation Reduction for CEO Messina and a New CFO

Ocwen is cutting cash retainer payments to its board of directors...

February 26, 2019 - IMFnews

Short Takes: How Fast for Calabria? Very Fast / It Pays to Have a Godfather / What About a ‘Hold’? / Record Attendance at SFIG Vegas / Mixed Opinions on Expanded-Credit

Now for the big question: Will any Democratic senators put a hold on the Calabria nomination?

February 26, 2019 - IMFnews

Mortgage Banking Income Hits Post-Crisis Low in 4Q18

Despite the dismal fourth-quarter performance, bank income from mortgage banking was actually up 13.5% from 2017...

February 26, 2019 - IMFnews

CFPB Plans Supervisory and Enforcement Budget Cuts

The new CFPB director wants to keep cutting the agency’s budget…

February 26, 2019 - IMFnews

Calabria Nomination to Head FHFA Clears Senate Banking Committee

It was a party-line vote. Not one Democrat voted for the nominee...

February 25, 2019 - IMFnews

Short Takes: Kushner Getting Cushy with Fannie and Freddie? / Working with Lenders, Not Property Owners / Prepayments Fall to 18-Year Low / More Funding for

A Freddie spokesman confirmed to us what we’ve always assumed: “We are not a primary lender.”

February 25, 2019 - IMFnews

NAR Dissects GSE Reform Proposals, Has a Few Ideas of its Own

NAR makes a persuasive case that Fannie and Freddie should be restructured as strictly regulated, shareholder-owned utilities…

February 25, 2019 - IMFnews

Buybacks of Fannie/Freddie Loans Fell to a Record Low Last Year

Total lender buybacks fell 14.4% last year…

February 25, 2019 - IMFnews

Former FHA Chief Galante Quits Ocwen’s Board, Ex-GE Exec Britell Joins

Ocwen is scheduled to report fourth quarter results on Wednesday…

February 21, 2019 - IMFnews

Short Takes: BSI Looking to Buy MSR Portfolios / Goldstone Running the Program / A Red Hot Servicing Market / A Strong Quarter for Texas Capital / Slip, Sliding Away: Fannie’s and Freddie’s Subprime Assets

A red hot servicing market is keeping deal makers happy...

February 20, 2019 - IMFnews

IMA Offers Up an $11.9 Billion Fannie/Ginnie MSR Package

Roughly 21% of the receivables are in California…

February 19, 2019 - IMFnews

M&A Blues: Why Good Companies Aren’t Selling

Rumors continue to abound that internet retailing giant Amazon wants in…

February 15, 2019 - IMFnews

What We’re Hearing: Calabria, a Sure Bet? / Warm Thoughts About Fannie-Freddie Loan Limits / Retaining More Capital / Congress? / Conservatorship Purgatory / Looks Like Radian is in Play / A Sale Dragging On and On and On: Genworth / Industry Vet Rudy Orman Lands

On the doorstep: The recap and release of Fannie and Freddie?

February 15, 2019 - IMFnews

HomeStreet Bank Looks to Sell Mortgage Origination Business, MSRs

The Seattle-based depository hired Keefe, Bruyette & Woods and MountainView as sale advisors…

February 15, 2019 - IMFnews

Redwood Cites Strong Competition in the Non-Agency Market

Redwood President Dashiell Robinson said demand for whole loans remains strong...

February 13, 2019 - IMFnews

Short Takes: A Nice Month for Pershing Square / No Mention of the GSEs / A Mortgage-Related M&A Deal Drags On / Delayed by the Chinese New Year / A New MBS From Deephaven / Pavaso Hires Mortgage Tech Vet Tim Anderson

After two-plus years of waiting, the Genworth deal has yet to close...

February 13, 2019 - IMFnews

Mortgage Jobs Grim with Selected Pockets of Hope

But not all conventional lenders are handing out pink slips these days...

February 12, 2019 - IMFnews

Short Takes: GSE Junior Preferred Shareholders Could Get Paid / Wedbush Tells Investors to Take the Cash / New Rez Sees a Buying Opportunity in MSRs / CFPB to America: Save Some of That Tax Return!

Bove sees some type of compensation going to the preferred shareholders of Fannie and Freddie...

February 12, 2019 - IMFnews

A Tiny 4Q18 Profit for New Residential

New Rez continues to gobble up MSRs like there's no tomorrow...

February 12, 2019 - IMFnews

The 4Q18 Tally: Banks Report Sharp Drop in Mortgage Banking Income

Much of the mortgage earnings damage took place at the top…


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