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May 1, 2017

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Jumbo Originations Down Sharply in 1Q17, but Lenders Remain Optimistic

While jumbo production fell on a sequential basis, many lenders saw a gain when compared to the same quarter a year earlier… Read More

Proposed Changes from S&P to Non-Agency MBS Rating Criteria Would Favor Prime Mortgages

S&P said the revisions are intended to better reflect the evolution of the U.S. residential mortgage market over the past several years… Read More

At Secondary Conference, MBA Chief Calls GSE Recap & Release ‘Crazy’

Stevens credited the Federal Housing Finance Agency with making “significant progress” in fixing the flaws of Fannie and Freddie... Read More

CFPB Warns of ATR Issue with Non-QMs

The regulator cautioned that a large downpayment alone isn’t sufficient to prove a borrower’s ability to repay a non-QM that is based on the consumer’s assets. Read More

Short Takes: A REIT in Love with MSRs / No. 2? / The Fortress Connection for New Rez and Nationstar / Phoenix Selling Whole Loans / Kaplan Departs Ranieri Companies

At this pace, you can expect that by yearend New Rez will be the nation’s second largest servicer, at least in terms of ownership rights… Read More

Ocwen Agrees to Sell $117 Billion of MSRs to New Rez; REIT Would Obtain 4.9% of the Troubled Servicer; Share Price Spikes

On the news, Ocwen’s share price was up a stunning 37 percent on the day to $3.15. Read More

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