Lender Launches Jumbo Reverse Product September 17, 2014 Brandon Ivey The loan is available in California, Florida, Hawaii and New Jersey, and is slated to be expanded to other states.Read More
Short Takes: New Hampshire Nonbank About to be Sold / PE Firms Like Hard Money, Crowdfunding, P2P / Are Commercial Banks Toast? / Virginia Sues Wall Street Over PLS / Great Scot! Who Gets the RBS Liability? September 17, 2014 Paul Muolo Although there appears to be strong interest these days in mortgage banking firms, the outlook isn’t particularly bright for commercial banks.Read More
Two Harbors Focuses on Retail Mortgages with its Latest Jumbo MBS September 16, 2014 Brandon Ivey Two other major contributors to the deal, George Mason Mortgage and American Pacific Mortgage, are retail-only shops.Read More
AmeriSave Agrees to Buy Mortgage Division from CertusBank September 16, 2014 Paul Muolo AmeriSave, a nonbank, has not been without controversy itself.Read More
FHA Commissioner Would Like to See Agency Separated from HUD September 16, 2014 George Brooks David Stevens, who led the FHA for part of the financial crisis, recalled difficult times dealing with policymakers and appropriators.Read More
Ex-FHFA Chief DeMarco Warns that Private Capital May Lose Interest in Mortgages September 16, 2014 Charles Wisniowski “The conservatorships are a huge barrier to entry for private capital,” said former FHFA Acting Director Edward DeMarco.Read More
Subservicing Growth Ebbs, but Prospects Still Look Bright September 16, 2014 Paul Muolo Dovenmuehle and Cenlar have long dominated the sector, but a growing number of small and midsized players have made inroads in recent years.Read More
Short Takes: What’s MERS Worth? / Fannie, Freddie and MBA Could Use the Money / MBA Tells FHFA to go Easy on Buybacks / A Drop in FHA FICOs / Clayton’s New Hire September 16, 2014 George Brooks and Paul Muolo The Mortgage Bankers Association wants the FHFA to push Fannie and Freddie to go easy on mortgage buybacks. Read More
Bank First-Lien Portfolios Continue to Grow, Including Agency Loans September 15, 2014 Brandon Ivey Among the four largest holders of first liens, only Bank of America decreased its portfolio in the second quarter.Read More
White House Will Meet with Lenders Over Mortgage Credit Access September 15, 2014 George Brooks The White House meeting is expected to touch on key lender issues, including credit overlays, government enforcement actions, regulatory burden and risk-based versus FHA pricing.Read More