IMFnews

June 6, 2018

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Ditech Posts $467 Million Profit for 1Q18 – Thanks to BK Filing and Debt Cancellation

Ditech CEO Tom Marano: “I am pleased with the improving performance of our servicing business; however, I am disappointed with the performance of the origination business...” Read More

MBA Makes the Case to IRS that Lenders are Eligible for 20 Percent Deduction Included in Tax Reform

The trade group argues that if lenders organized as pass-through entities do not receive the new deduction, they will be at a competitive disadvantage... Read More

Mulvaney Wants to Make the CFPB a ‘Gold-Standard’ Regulator

Interim CFPB chief Mick Mulvaney: “We are still closely associated with Sen. Elizabeth Warren. We are her baby. That’s not where a gold-standard regulator should be.” Read More

Lenders Lost Money on Originations in 1Q18; Servicing to the Rescue…

Personnel expenses averaged $5,899 per loan in 1Q18 compared to $5,560 in the fourth quarter, up 5.7 percent… Read More

Competition for Non-QMs Slowing Ellington’s Plans

CEO Laurence Penn said he hopes the flow of non-QM originations will increase… Read More

Short Takes: Hey, Hands Off of GSE Multifamily / What Ed DeMarco Wanted To Do / Cuts at Stearns? / More Non-QM Lenders Target Self-Employed Borrowers / New Hires at Promontory MortgagePath

Over the years it seems as though commercial banks have basically ceded the multifamily market to nonbanks that use the GSEs as their secondary market takeout… Read More