Ginnie Mae Transfers Plummet; A Lack of Mega Deals? December 29, 2014 Paul Muolo The market heated up significantly in 2013 with $152.22 billion of Ginnie MSRs being transferred.Read More
Green Tree Increases Servicing Advance Facility With Barclays to $1.2 Billion December 29, 2014 Paul Muolo Barclays is acting as the administrative agent on the deal and will be the sole note holder. Read More
More Law Firms Announce ‘Investigations’ Into Ocwen December 29, 2014 Paul Muolo The latest entry into the Ocwen legal sweepstakes is Lifshitz & Miller, Garden City, NY, whose specialties include class action lawsuits.Read More
Banks Increase Holdings of First Liens Ever So Slightly December 24, 2014 Brandon Ivey Wells Fargo and JPMorgan Chase increased their first-lien holdings compared to 3Q 2013 while Bank of America and Citigroup experienced a decline.Read More
Quicken Has Big Hiring Plans for 2015, Including 1,400 Paid Interns December 24, 2014 Paul Muolo and Sherry Muolo It’s anticipated that in the coming year nonbanks will continue to steal production market share away from depositories.Read More
Radian Guaranty Agrees to Sell Sub for $810 Million But Still has a ‘PMIER’ Short Fall December 24, 2014 Paul Muolo Radian, said Ibraham, expects to be fully compliant with the PMIER rules and the sale of RAA will help the company “accelerate our ability to do so.”Read More
Five Oaks, Credit Suisse Team Up on New Jumbo MBS December 24, 2014 Brandon Ivey The new jumbo MBS from Five Oaks includes representations and warranties that do not sunset. Read More
Next Up: Who Will Buy Ocwen’s Agency MSRs? Pingora? December 24, 2014 Paul Muolo “We tend to look at most everything if it is mainly performing and is 2010 or later vintage agency product," said Pingora CEO Michael Lau.Read More
Short Takes: SEC Critical of Rating Agency / Mortgage Vendor Black Knight Unveils IPO / Warehouse Rates Too Good to Be True? / Stonegate Expands Non-Agency Menu / IMFnews (Short) Publishing Break December 24, 2014 Brandon Ivey and Paul Muolo We continue to hear reports about a new player in the warehouse lending space that is offering attractive borrowing rates that appear too good to be true. Read More
Outlook 2015: The CFPB Will Face the (GOP) Music; Dodd-Frank Tweaks? December 23, 2014 Thomas Ressler Republicans also will try to subject the CFPB’s budget to the congressional appropriations process.Read More