Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
Flagstar Sees Production Decline, Stock Hammered in Trading April 24, 2013 Paul Muolo Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit. Read More
Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar? April 23, 2013 Paul Muolo Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks. Read More
ASF Suggests Ways for Fannie and Freddie to Reduce Their Market Share April 23, 2013 Brandon Ivey ASF suggests that one way to reduce the market share of the GSEs is to hike guaranty fees once again.Read More
PennyMac Sees Correspondent Purchases Decline, Jumbo MBS Coming April 23, 2013 Brandon Ivey PennyMac once again posted strong earnings, but the REIT's correspondent purchases are beginning to slow somewhat. Read More
Prices Climbing for Jumbo Mortgages April 23, 2013 Paul Muolo The jumbo market is heating up, which means the price paid for whole loans is on the rise.Read More
House Banking Chairman Won’t Let CFPB’s Cordray Testify April 23, 2013 Thomas Ressler Although Rep. Hensarling rebuffed Cordray, the CFPB chief delivered the agency’s semi-annual report to the Senate Banking Committee Tuesday morning. Read More
Short Takes: Need Seller/Servicer Approvals? Bring Your Check Book / IMA Selling Ginnie Bulk MSR Deal / Fitch Worries About CMBS / Will the Senate Grill CFPB’s Cordray? / New Hire at WFG National Title April 22, 2013 Paul Muolo and Thomas Ressler Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights. Read More
Navy Federal Continues Stellar Growth in Residential Fundings April 22, 2013 Paul Muolo Navy Federal, which is headquartered in one of the hottest housing markets in the nation, saw residential fundings almost double in the first quarter.Read More
Redwood Coming to Market with Yet Another Jumbo Deal April 22, 2013 Brandon Ivey When it comes to jumbo MBS deals, Redwood Trust is on a tear this year. Read More
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