Stonegate Launches Jumbo Conduit, But No Securitizations Right Away February 14, 2013 Paul Muolo Stonegate Mortgage has launched a new jumbo conduit, hiring Eric Schlotz, a 15-year veteran from GMAC-RFC in Minneapolis, to manage the operation.Read More
Short Takes: The QRM Rule: 5% Down? / Jumbo Prices Getting Frothy? / Applications Fall but Don’t Panic / MSR Auctions of All Sizes February 14, 2013 Brandon Ivey and Paul Muolo Three senators are pushing for 3 percent downpayment language on the QRM rule.Read More
Fannie Moves Closer to Selling Nonperforming Mortgages, Hires Milestone February 13, 2013 Paul Muolo Fannie Mae is working on a plan to sell billions of dollars of nonperforming loans in the second quarter. Read More
Industry Expects GSEs to Double Seller Net-Worth Minimum February 13, 2013 Paul Muolo Officially, the GSE net-worth minimum is set at $2.5 million, but some in the industry think it will double eventually.Read More
Industry Can Question CFPB on Mortgage Rule Interpretations February 13, 2013 Paul Muolo The CFPB said mortgage lenders can ask the agency "important" interpretation questions on the many rules that it finalized this year.Read More
Short Takes: FHA Chief Worries About Pricing Borrowers Out of the Market / Fortress Has Plenty of Cash to Spend on MSRs / Former Freddie Executive Key Player in Cerberus REIT / New Penn Hires Correspondent Chief / Fay Servicing Who? February 13, 2013 George Brooks and Paul Muolo Fortress Investment Group has raised $1.6 billion to buy mortgage assets, including servicing rights.Read More
JPMorgan Chase Working on Jumbo MBS February 12, 2013 Brandon Ivey and Paul Muolo JPMorgan Chase is working on a jumbo MBS deal but it may place the bond in the the private market. Read More
FHFA Kills Plan to Lower Force-Placed Insurance, But Fannie Adamant February 12, 2013 Paul Muolo The Federal Housing Finance Agency this week killed a plan being heavily promoted by Fannie Mae to reduce force-placed insurance rates. Read More
Short Takes: Is PennyMac Really a Subsidiary of PNC? / 5 Percent Will be the Downpayment Threshold in the QRM Rule / Yet Another New Player in Mortgage Insurance / MIAC Selling MSRs February 12, 2013 Paul Muolo Is PennyMac Financial Services, which just filed for an IPO, really part of PNC? Read More
Wells Fargo Contemplates Servicing Sales February 11, 2013 Paul Muolo Wells Fargo is contemplating selling some of its massive $1.906 trillion residential servicing portfolio while maintain a subservicing relationship with the end consumer. Read More