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August 30, 2017

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MBA: Production Profits Soared in 2Q17 – Thanks to a Reduction in Expenses

Meanwhile, net servicing income fell to $27 per loan in 2Q17 from $225… Read More

Errors in Moody’s Database Prompt Reassessment of Ratings on Nearly 1,000 Pre-Crisis Non-Agency MBS

Problems regarding the ratings of IO tranches of pre-crisis non-agency MBS emerged in June of this year... Read More

Eli Global Wants to be a Player in Mortgages, but Who Are These Guys?

Another source added: “Eli’s interest in the industry is legit. They want to buy and hold companies.” Read More

GSE Single-Family MBS Business Edged Higher in July

In July, the top five GSE loan sellers were Wells Fargo, Chase, Quicken, PennyMac and AmeriHome Mortgage… Read More

HUD Quadruples the Upfront Reverse Mortgage Premium. NRMLA Not Happy

NRMLA said the changes "diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.” Read More

Mortgage Applications Take a Late Summer Vacation

The refi share of new applications continues to rise… Read More

Short Takes: Richard Cordray, Still on the Job / Coming Soon: 2Q17 Warehouse Ranking / New Bank Statement Loan Takes Off / Berkshire Now BofA’s Largest Shareholder / A New Hire for Falcon

Earlier this month, nonprime lender Citadel Servicing Corp., Irvine, CA, launched a one-month bank-statement program for self-employed borrowers. Read More