Short Takes: Turn the GSEs Into a Cooperative? / Share Price of Fannie Common Getting Frothy / FHA Finally Gets Some Good News / LPS Launches New Product / Fannie Ready for Modifications May 15, 2013 George Brooks, Paul Muolo, and Charles Wisniowski Why is the share price of Fannie Mae's junior preferred stock rising so much? Also, send Freddie Mac "back to the future"?Read More
SunTrust Hires Former CitiMortgage Executive to Run Retail Mortgages May 14, 2013 Paul Muolo Jeffrey Walker, the new head of residential retail for SunTrust, has worked for such lenders as CitiMortgage and Wells Fargo. Read More
Freddie Streamlined Modification Program to Boost MI Sector May 14, 2013 Paul Muolo A new modification program from Freddie Mac also will pay mortgage servicers $1,400 per unit for each successful loan restructuring. Read More
Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO May 14, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.Read More
IMA Closes Two Large Bulk MSR Sales May 13, 2013 Paul Muolo Investors have stepped up to the plate, buying new large bulk MSRs put out for auction by Interactive Mortgage Advisors. Read More
Short Takes: More Investment Funds Salivating Over MSRs / Now BofA is Dumping Commercial MSRs / HLSS Continues to Take Advantage of Cheap Money / More Trouble for Chimera / Ten-Year Treasury Nears a Yearly High May 13, 2013 Paul Muolo Investment funds are continuing to salivate over mortgage servicing rights. Read More
Fannie Pushing Certain Seller/Services to the Cash Window May 9, 2013 Paul Muolo The issue of Fannie Mae encouraging lenders to sell for cash instead of securitizing has been a hot topic over the past few months. Read More
Fannie Will Release DTA, Setting Up $59 Billion Dividend Payment to Treasury May 9, 2013 Paul Muolo and Charles Wisniowski Fannie Mae is set to "give back" $50.6 billion to the U.S. Treasury by June 30, thanks to stellar earnings and accounting treatment of deferred tax assets.Read More
Ocwen Will Sell $162 Million of Preferred Stock May 9, 2013 Paul Muolo Ocwen has registered preferred shares with the NYSE. The sale will benefit WL Ross & Co. Read More
Short Takes: Are Fannie and Freddie Almost Even with the U.S. Treasury? / PennyMac's MB Unit Goes Public / Ocwen Spent $150 Million on Platform / A Bad Sign: Late Payments Are Up / But Home Values Continue to Rise May 9, 2013 John Bancroft and Paul Muolo Will Fannie Mae and Freddie Mac be "even" with the U.S. Treasury by yearend? Also: PennyMac Financial Services goes public.Read More