Ditech Completes Sale of Reverse Mortgage Solutions to MAM LLC October 1, 2019 Paul Muolo Ditech, in the coming days, expects to close on its previously announced asset sale to New Residential Investment Corp. The REIT is scheduled to purchase most of the nonbank’s servicing portfolio and what’s left of its origination platform.Read More
Toorak Capital Partners Issues Large ABS Backed by Residential Bridge Loans October 1, 2019 Brandon Ivey Toorak is a leading issuer of fix-and-flip securitizations. The firm has aggregated more than $3.0 billion worth of product since 2016. Read More
Short Takes: Blunt Advice on LOs: Move Up or Move Out / Saved by Rates Again? / Prestwick Offers Bulk MSR Package / A Decade at Long & Foster / FHFA Settles with Watt’s Accuser September 30, 2019 Paul Muolo and Dennis Hollier Although origination volumes appear to be strong these days, some mortgage executives are already worrying about what might happen next year...Read More
Treasury, FHFA Hike Allowable Retained Capital at the GSEs September 30, 2019 Dennis Hollier The hike in the retained earnings threshold was widely anticipated and the news hardly budged the share price of Fannie/Freddie common.Read More
Senate Panel Asks HUD to Study Ginnie’s Dependence on Contractors September 30, 2019 George Brooks The Senate panel believes such a study is crucial before Ginnie develops a plan to fill gaps in hiring and retention. Read More
What We’re Hearing: The (Mortgage) IPO Dream / Uber and Lyft May Never Earn a Dime / GSE Legislation During the Lame Duck Session? / Cashing out of Fannie and Freddie / The New Wells CEO: No Mortgage Experience September 27, 2019 Paul Muolo One of the biggest speculative bets ever made in mortgage stocks is going on right now: Fannie and Freddie...Read More
HMDA: Mixed Trends in Denial Rates for Jumbos September 27, 2019 Brandon Ivey Quicken Loans denied 29.6% of applications for jumbo purchase-mortgages in 2018 and denied nearly half of the jumbo refi applications it received.Read More
FHFA Chief Calabria Keeps a Close Watch on G-Fees, More September 27, 2019 Paul Muolo In late 2018, the FHFA published a report on g-fees paid from 2013 to 2017, stratifying it by five different lender cohorts…Read More
Caliber Stocks MBS with Non-QM Jumbos for Affluent Borrowers September 27, 2019 Brandon Ivey Caliber’s Elite Access program is aimed at borrowers who could not qualify for a jumbo mortgage at a bank.Read More
Short Takes: Judging GSE Pilot Programs / Freddie Mum on the Exact Size / Warehousers Have Entered the Sector / Significant Changes at FHA Unlikely / Pointillist? September 26, 2019 Paul Muolo Freddie Mac declined to say how much credit it had extended under the pilot, though a spokesman said it was under $1 billion. Read More