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August 2, 2017

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Mortgage Banking Profits Up for Depositories in 2Q17

Bank of America reported $230.0 million in combined second-quarter mortgage-banking income, a hefty 88.5 percent increase from the previous period. Read More

FHFA Director Mel Watt Rules Out G-Fee Cut

Watt noted that, “Some lenders are finally showing more willingness to extend credit to borrowers who meet the broader credit criteria reflected in the enterprises’ credit boxes…” Read More

Ocwen Exits Correspondent Channel, Takes $44.4 Million Net Loss in Second Quarter

Ocwen originated $699.6 million in the second quarter, with a near doubling of retail originations unable to fully offset the wind-down in correspondent production… Read More

Uncertainty for Non-Agency MBS Investors as Trustees Remain Quiet on Whether they will Follow Wells in Withholding Funds

The maneuver was uncommon and prompted speculation that other trustees might take similar actions. Read More

Walter’s Stock in a Freefall (Again) in Wake of ‘Restructuring’ Plan. Firm Projects Loss for 2017

The company has been trying to restructure its operations under CEO Anthony Renzi, who joined the firm last year. Read More

Short Takes: Freddie Moves Closer to SFR Financing / Room for GSE Legislation to Get Done? / Michael Bright: Acting Ginnie Mae Chief / Applications Decline / A New Hire for Waterstone

Cowen & Co. analyst Jaret Seiberg believes the Senate Banking Committee remains on track to unveil GSE reform legislation late in the fourth quarter... Read More

Fannie Mae Posts Strong 2Q Profit, Will Pay Treasury $3.1B ‘If FHFA Declares a Dividend in This Amount’

In early 2018, the Fannie/Freddie capital buffer falls to zero from $600 million this year... Read More

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