IMFnews

August 3, 2017

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Big Banks Diverge on a Huge Question: To Retain Mortgages or Not? BofA Keeping 90 Percent…

BofA CEO Brian Moynihan: “Now, the answer is, we just retain the mortgages and frankly the credit quality on ours is not worth paying the insurance [associated with selling loans into MBS].” Read More

And the Beat Goes On: Nonbanks Keep Stealing MSR Market Share from Depositories

Mortgage REIT New Residential posted a stunning 40.1 percent sequential growth rate in its MSR portfolio, according to Inside Mortgage Finance. Read More

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

Treasury keeps earning huge dividends from the GSEs, while the junior preferred shareholders can only look on in jealousy... Read More

Fix & Flip Lender CALCAP Gets Equity Investment, Hires Former Flagstar Executive

Not counting the new investment from Gatehouse, CALPCAP has raised $225 million from investors since its inception 10 years ago. Company principal Mark Mozilo told IMFnews the firm is continuing to hire as it builds out a national lending platform. Read More

Trade Groups Suggest Improvements to CFPB’s ATR Assessment

“The research will inform the CFPB and assist it in developing recommendations to streamline and improve the rules governing the mortgage industry and, more specifically, the ATR/QM rule,” said the CMC. Read More