Slip Sliding Away: Subprime Servicing Rights; Here Comes Caliber? August 27, 2015 Brandon Ivey Only one servicer among the top 15 – Caliber Home Loans – avoided a decrease in subprime MSRs...Read More
Is Student Loan Debt Really Hurting the Mortgage Market? August 27, 2015 Sherry Muolo “More people want to take care of their student loan debt before getting into even more [debt] with a mortgage," said Rick Sharga, executive vice president of Auction.com.Read More
Quicken, FirstKey, New Penn Lead Contributors to Pending Jumbo MBS from Credit Suisse August 27, 2015 Brandon Ivey Quicken Loans is contributing 17.1 percent of the mortgages to the new jumbo MBS from Credit Suisse. Read More
MBA Sees ‘Profit’ Rise 44.3 Percent in FY 2014; Stevens Takes Home $1.6 Million August 27, 2015 Paul Muolo For the year ending Sept. 30, 2014 MBA took in revenue of $51.9 million versus $39.1 million in expenses for a net profit of $12.7 million.Read More
Manhattan Mortgage Founder Melissa Cohn Launches New Company August 27, 2015 Paul Muolo Although Manhattan Mortgage operated mostly as a loan broker, a press statement from MC Home Loans describes the new company as a “banker.”Read More
Short Takes: Fannie Gets the Origination Blues / Hopefully, It Won’t Come True / Marix Gets Freddie Approval / Freddie Grows. Don’t Tell FHFA / MIAC Hires Trading Desk Chief August 27, 2015 Paul Muolo If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…Read More
A ‘New York State of Mind’ on LO Approvals: Like Molasses August 26, 2015 Paul Muolo A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."Read More
Banks Keep Up the Pressure on a TRID ‘Transition’ Period – Via FFIEC August 26, 2015 Thomas Ressler ABA said all stakeholders believe that clearer and more effective mortgage disclosures are important and worthwhile. Read More
MBA on the Next 10 Years: Don’t Expect Much Change in the Homeownership Rate August 26, 2015 Brandon Ivey Renters' attitudes about homeownership have shifted, said Freddie Mac...Read More
CFPB Finds Mortgage-Related Complaints Declining, Led By Ocwen and Nationstar August 26, 2015 Brandon Ivey Among the top 10 companies in the complaint database, two mortgage servicers showed improved performance: Ocwen and Nationstar.Read More