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February 15, 2017

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Sen. Crapo, Fed Chair Yellen Agree Housing Finance Reform is Urgent

Fed Chairman Janet Yellen on the future of Fannie and Freddie: “…I would hope that Congress would decide explicitly on what the government’s role is and if there are guarantees, that they would be recognized and priced appropriately.” Read More

The Mortgage M&A Game is On! In the Hunt: Blackstone, Flagstar and Others

“Anytime you have rates run up by 50 basis points, it usually takes about 90 days before a washout begins,” said one mortgage advisor. Read More

Tennessee Investor Pares Holdings in Walter Investment Management

Walter Investment/Ditech has yet to establish a date for the release of its fourth quarter results… Read More

SoftBank of Japan Agrees to Buy Fortress, Largest Investor in Nationstar Mortgage

It’s unclear at this point what the takeover might mean, if anything, for Nationstar, whose own share price has rallied the past few months. Read More

MBS and ABS Sectors Adjusting to Risk-Retention Requirements

Sponsors can generally meet the requirements by retaining the most subordinate tranches of the securitization equaling at least 5.0 percent of the deal… Read More

Short Takes: Branch Manager Departures at loanDepot / Nationstar a Candidate for PHH MSRs? / Delinquencies Spike in Some Categories / Still in Love with Ocwen: Bill Erbey / Coming Soon: Warehouse Ranking

Bill Erbey, who was forced out by financial regulators two-plus years ago, controls 16.8 percent of Ocwen Financial... Read More

A Large 4Q16 Loss for PHH; More Asset Sales...

Among the key announcements: the company is selling its PHH Home Loans joint venture to Guaranteed Rate; unloading its private label operations to LenderLive Network, and monetizing “certain” servicing assets. Read More

Freddie Mac Hits an Earnings Grand Slam in 4Q16: $4.8 Billion in Net Income; Gains from Derivatives Top $6.3 Billion

When Freddie makes that next “dividend” payment, its “account surplus” with Treasury will total $34.6 billion: federal assistance of $71.3 billion since September 2008 versus dividend payments of $105.9 billion. Read More

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