Short Takes: The Wells Fargo Senate Barbeque / The Scandal’s Effect on Wells’ Mortgage Business? / Hats Off to the Los Angeles Times / Sen. Warren Slams Stumpf / Jumbo Update September 20, 2016 Brandon Ivey and Paul Muolo Will a potential residential mortgage customer bolt Wells Fargo because they can’t trust the bank’s employees, including its retail loan officers?Read More
Deal Agent Concept for Non-Agency MBS Closer to Reality with Release of Sample Document September 19, 2016 Brandon Ivey However, the sample deal agent agreement doesn’t address one of the remaining controversial issues: how much to pay for their services.Read More
Short Takes: Ocwen Executive Bolts for Flagstar / Number Seven with Hopes to Go Higher / RPM Mortgage Launches Second Lien Product / Will More Nonbanks Offer Seconds? / Time for a Background Check on Your Branch Manager? September 19, 2016 Brandon Ivey and Paul Muolo We know of at least one nonprime lender offering seconds and we expect that in time others may follow…Read More
Guess Who Benefits from a Rate Rise? Answer: Nonprime Lenders September 16, 2016 Brandon Ivey What’s the market potential for nonprime/non-QM lending? Maybe $100 billion a year…Read More
Boom Times Ahead for Nonprime. And Yes, the Megabanks are Staying Home September 15, 2016 Brandon Ivey All three panelists expressed the view that the nonprime market is safe from competition from the megabanks...Read More
Short Takes: Even Under Trump, the CFPB May Be Invincible / Five Years of Abuses? / Warehouse Money Available for Non-QM? / The Wild, Wild West / PIMCO-Owned Lender Hires Ex-BOK Official September 15, 2016 Brandon Ivey and Paul Muolo Warehouse money is available from commercial banks for nonprime home mortgages, but...Read More
Non-Agency Lenders Look to Investment Properties September 13, 2016 Brandon Ivey Cash-flow underwriting for mortgages on investment properties also may present regulatory concerns…Read More
Wells Fargo to Eliminate Sales Goals for Retail Bankers. Mortgages Not Affected September 13, 2016 Brandon Ivey It’s not clear how many of the consumers with unauthorized accounts had mortgages with Wells, though the megabank and its peers have put an emphasis on cross-selling financial products to jumbo customers.Read More
Bank-Retained Mortgage Portfolios Keep Growing; Few Jumbos Going into MBS September 12, 2016 Brandon Ivey Meanwhile, while the jumbo securitization rate during the quarter was a paltry 0.8 percent…Read More
Large Gain in Wholesale Originations at Nonprime Lender Angel Oak September 12, 2016 Brandon Ivey Angel Oak also has a much smaller division, Angel Oak Prime Bridge, that originates nonprime mortgages for investment properties.Read More