Trade Group Calls for Disclosures on Loan Officer Qualifications May 6, 2015 Thomas Ressler Such disclosures also should show whether the LO has passed the SAFE Act test.Read More
Short Takes: FHFA’s Reps-and-Warranties Clarifications a Bust? / Deephaven’s Nonprime Volume a Mystery / A ‘Responsible’ Nonprime Lender / Mostly a Seller’s Market for Homes? May 6, 2015 Paul Muolo Deephaven's website boasts that it helps “aspiring” homeowners “purchase homes as soon as one day after foreclosure or short sale.” Read More
Fears Over TRID’s Impact Intensify as Clock Ticks May 5, 2015 Thomas Ressler As the TRID deadline approaches industry anxieties are getting stronger and more specific in nature.Read More
Redwood’s Mortgage Income Takes It on the Chin; But Outlook Improves May 5, 2015 Brandon Ivey Redwood posted just $2 million in income from residential mortgage banking activities in the first quarter. Read More
Nationstar’s Stock Hammered After Firm Posts $48 Million 1Q Loss May 5, 2015 Paul Muolo On the plus side, the publicly traded nonbank funded $4.2 billion during Q1, a 16 percent sequential improvement.Read More
Report: A Large Chunk of VA Loans are Not Closing On Time May 5, 2015 George Brooks “For VA, this is a significant change for the worse,” said Tom Popik, designer of the survey.Read More
Freddie’s CEO Layton: Earnings Won’t Rise Much From Here May 5, 2015 Paul Muolo In the first quarter, Freddie Mac's net interest income rose on a sequential basis by a mere 2 percent to $3.647 billion.Read More
Short Takes: CFPB Holds a Candle for the 'Credit Invisible' / Walter Gets Smacked Around Too / New Fannie MF MBS / Correction on MDS May 5, 2015 Paul Muolo Fannie Mae reported Tuesday that the GSE issued $10.4 billion of multifamily MBS in the first quarter of 2015, primarily through its delegated underwriting and servicing program.Read More
Securitization of Seasoned Fannie/Freddie Mortgages on the Rise May 4, 2015 Paul Muolo Over the past few years, both the mega banks and regionals have been keeping some of their agency-eligible loans in portfolio...Read More
VA Loan Production Almost Equal to FHA – Thanks to Refis May 4, 2015 George Brooks Wells Fargo, top VA seller to Ginnie Mae, showed a modest 7.6 percent increase in Ginnie MBS issuances in the first quarter... Read More