Federal Reserve Stays the Course on MBS Acquisitions March 21, 2013 Thomas Ressler The Federal Reserve will continue to gobble up MBS and other long-term bonds, which means mortgage rates should stay low.Read More
IG Faults Freddie, FHFA for Not Resolving Servicing Complaints Fast Enough March 21, 2013 Charles Wisniowski The FHFA IG, in a new report, is critical of how Freddie Mac is managing its services regarding consumer complaints.Read More
Bob Appel, EVP of Default Servicing, Resigns from Nationstar March 21, 2013 Paul Muolo Nationstar Mortgage, a fast growing residential servicer, is losing the man in charge of default processing at the firm.Read More
Short Takes: CFPB Shows Some Love for the Industry? / Chamberlain to Head PNC Mortgage / Quicken Loans Owner Keeps Gobbling Up RE in Detroit / Gorman & Gorman Home Loans Sold March 21, 2013 Paul Muolo and Thomas Ressler Industry veteran Sy Naqvi is stepping down as CEO of PNC Mortgage.Read More
FHFA IG Raises the Question of Whether $93 Billion in GSE Deferred Tax Assets Can Be Captured March 20, 2013 Paul Muolo and Charles Wisniowski Can Fannie Mae and Freddie Mac capture $93 billion in deferred tax assets - money that ultimately will flow through to the U.S. Treasury? Read More
Fewer Prepayments Expected on Recent Non-Agency Jumbo MBS March 20, 2013 Brandon Ivey Stable interest rates are making refinancing less attractive to the newest mortgage borrowers, which should keep prepayment rates very low. Read More
Use of Cash Financing Increasing, More Investors Buying Homes March 20, 2013 Brandon Ivey The share of cash purchases of homes increased for five consecutive months, hitting 32.3 percent in February, based on the three-month moving average. Read More
Mortgage Applications Tumble Again, Refi Share Falls for 10th Straight Week March 20, 2013 Paul Muolo Is the refinancing boom finally over? Some mortgage bankers are beginning to get nervous.Read More
Short Takes: Genworth Executive Bolts for Servicer / Hedge Funds Get Cold Shoulder from the GSEs? / Chimera Continues to Have Reporting Problems / The Cordray Saga Continues / PLS Modifications at 45 Percent March 20, 2013 Paul Muolo and Thomas Ressler Genworth is losing a top MI executive to a mortgage servicer. And more woes for Chimera...Read More
Banks Increase Servicing Valuations in Late 2012 March 19, 2013 John Bancroft At the end of the year, banks and thrifts serviced $5.323 trillion of home mortgages for other investors, giving these MSRs an asset value of $41.43 billion. Read More
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