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January 30, 2018

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More Lenders Contributing to Prime Jumbo MBS; Flagstar Becomes a Player

Flagstar contributed $1.02 billion to jumbo MBS last year, or 9.4 percent of the total market… Read More

Wells Fargo Names Michael DeVito Permanent Head of Home Lending

DeVito will report to Mary Mack, senior executive vice president of community banking and consumer lending. Read More

Dever, Iannicola Latest Additions to Short List for CFPB Director. Or Maybe Jerry Buckley?

“Jerry Buckley would fit the bill perfectly,” said one industry lobbyist... Read More

Industry Starts to Worry as Yield on the 10-Year Hits Yearly High; Insolvencies? PHH Falls to 52-Week Low

The only firms that are feeling overly bullish are nonprime shops such as Angel Oak and Citadel Servicing… Read More

Investors in Walter Get a Sweet Deal: a 9 Percent Note Rate

According to a new SEC filing, the unsecured notes previously matured in 2021 and carried a yield of 7.88 percent. Read More

Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie... Read More

GSE Reform Draft (#29) Lays Out a New Mortgage Market with a Federal Guarantee but Private Capital; FHFA and Ginnie in Charge; Treasury Can’t Sell GSE Stock

Treasury would be barred from selling or disposing of “any senior preferred shares, any interest in the warrants, any common shares acquired upon the exercise of the warrants, or any other equity interest that were acquired pursuant to the Senior Preferred Stock Purchase Agreement.” Read More