Coming Soon From Fannie Mae and Freddie Mac: a 70BP G-Fee March 5, 2013 Paul Muolo The mortgage industry is bracing for a 70 basis point guaranty fee from Fannie Mae and Freddie Mac. Read More
Turmoil at ASF as Board Members and Firms Quit Securitization Group March 5, 2013 Brandon Ivey The American Securitization Forum, a high profile trade group that focuses on MBS issues, is in turmoil with several of its board members quitting. Read More
Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive March 5, 2013 Paul Muolo Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.Read More
Mortgage Profits at Banks Set New Record, but Peak Mayve Been Reached in 3Q March 4, 2013 John Bancroft The mortgage operations of banks and thrifts posted record earnings in 2012, but the momentum may be behind the sector.Read More
GMH Hires GMAC Executive as SVP of National Production March 4, 2013 Paul Muolo GMH Mortgage Services, which is barely five years old, has hired GMAC veteran Frank DiMaio to run national sales.Read More
Freddie Will Expand Financing Options to Move REO March 4, 2013 Charles Wisniowski Freddie Mac wants to move more REO properties and plans to expand out its stable of financial options and lenders.Read More
Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India? March 4, 2013 Paul Muolo Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.Read More
Short Takes: Fear Surrounding FHA Compare Ratios / Popular Bank To Unload $1 Billion-Plus of Delinquent Loans / CFPB About to Get Trimmed / Delinquencies Continue to Fall at Fannie / Okay, Whos Servicing Sen. Warrens Mortgage? March 4, 2013 Paul Muolo and Thomas Ressler Some lenders are concerned about the coming 'FHA Scorecard' and the ability of certain large funders to make their numbers look good.Read More
FHFAs DeMarco Promises Movement on Common MBS Platform in 2013, $30 Billion in Risk Sharing, and NPL Sales March 4, 2013 Paul Muolo It appears the GSE "common" securitization platform will happen this year.Read More
Citadel Servicing Raises $200 Million for New Nonprime Mortgage Lending March 1, 2013 Paul Muolo Citadel Servicing of California has raised $200 million from private investors to originate new residential subprime loans, Inside Mortgage Finance has learned.Read More