Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPB’s Data Collection Efforts / Bad Debt Up in Value July 18, 2013 Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...Read More
Ginnie Approvals Already Surpass Last Year’s Total, But Nonbanks a Problem July 17, 2013 Paul Muolo Banks have a strong track record on obtaining Ginnie Mae approvals, nonbanks not so much. Read More
BofA Continues to Lose Money on Mortgage Unit, Refis Sky High at 83 Percent July 17, 2013 Paul Muolo Bank of America's mortgage business continued to recover in the second quarter, but its rep and warranties exposure remained high at $16.64 billion.Read More
Refis at Lowest Point in More Than Two Years July 17, 2013 Paul Muolo Is the great refi wave just about over? Read More
Short Takes: Nationstar Lays Groundwork for Another BofA MSR Deal / PHH Revises Warehouse Agreement with RBS / The Fed Will Keep Gobbling Up MBS / The CFPB’s Cordray is Finally Street Legal / An OIG For CFPB? July 17, 2013 Paul Muolo and Thomas Ressler Nationstar Mortgage is issuing $250 million of debt, hinting that it may buy more MSRs from Bank of America.Read More
FHFA OIG Wants Performance Measures on G-Fee Hikes July 16, 2013 Paul Muolo In 2012 single-family g-fees allowed Fannie Mae and Freddie Mac to collect $12.5 billion from its seller/servicers.Read More
Mortgage Master Continues Lending Dominance in Bay State July 16, 2013 Paul Muolo Mortgage Master continued its dominance in Massachusetts mortgage lending. Jumbo loan production swelled by 65 percent.Read More
Short Takes: Cordray Confirmed as CFPB Chief? / LPS Looked at Buying Mortgage Cadence / Joe Garrett Tells Lenders to Cut Now / Allonhill Starts Hiring / Fannie Says Market Could Move Toward ARMs July 16, 2013 Paul Muolo and Thomas Ressler Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.Read More
Warehouse Available for Private-Money Mortgages? July 15, 2013 Paul Muolo Warehouse lenders hold the key to liquidity in the non-prime and private money sectors.Read More
Short Takes: MBA Chief Warns About an Imperfect Solution / A Rosy Outlook for GSE Reform? What? / Gain-on-Sale Not So Bad / Ocwen Goes After HARP Refis / Nomura Has No Jumbo Conduit July 15, 2013 Brandon Ivey, Paul Muolo, and Charles Wisniowski MBA president Dave Stevens is concerned that events could soon overtake policy makers and force an “imperfect solution” to Fannie Mae and Freddie Mac.Read More