Why a Large Chunk of 9.3 Million Foreclosed Borrowers May Never Buy a Home Again April 27, 2015 Brandon Ivey Underwriting overlays established by lenders also will limit some potential borrowers from purchasing homes in the coming years. Read More
Impac Sees 1Q Earnings Spike Thanks to CashCall, Deferred Tax Assets April 24, 2015 Brandon Ivey Impac originated $2.85 billion of loans in 1Q15, a figure that includes production from CashCall. Read More
What’s an Appraisal Cost? Try $450 to $800, At Least April 23, 2015 Brandon Ivey Many real estate agents report that appraisal costs have risen and AMCs’ overhead may be responsible...Read More
Five Oaks Ready to Issue First Jumbo MBS from Its Own Platform April 23, 2015 Brandon Ivey Five Oaks will retain all the subordinate classes, the servicing rights and the IOs.Read More
Short Takes: Some Lenders Think Mortgage Counseling is a Waste of Time / Credit Suisse Readies New Jumbo Deal / Originations Rise Slightly at BB&T / More MSR Deals / DocMagic Rolls out TRID Service April 23, 2015 Brandon Ivey and Paul Muolo The top contributor to the new Credit Suisse jumbo deal is New Penn, which is controlled by MBS co-inventor Lew Ranieri.Read More
Redwood’s Latest Jumbo MBS Includes Highest Share Yet of Non-QMs April 22, 2015 Brandon Ivey Some 97 lenders contributed to the pending security from Redwood, led by PrimeLending with a 9.0 percent share. Read More
Short Takes: A HUD Settlement for Green Tree? / After Losing LeBron, Quicken Owner Fears Little / More Regs for AMCs / Lenders You May Not Know: First Cal / Freddie Gets New Chief Risk Officer April 22, 2015 Brandon Ivey and Paul Muolo It's always possible that Green Tree could turn around and sue HUD before HUD sues them, which is what Quicken Loans did.Read More
Are ‘Fast Servicers’ Impacting the TBA market? Nonbanks a Factor? April 21, 2015 Brandon Ivey The Federal Reserve is seen as taking the brunt of nonbank servicer-induced prepayment risk on agency MBS.Read More
Cherry Hill Receives $25 Million Loan to Obtain Leverage on Excess Servicing April 21, 2015 Brandon Ivey Earlier this year Cherry Hill agreed to buy Aurora Financial Group and its $700 million servicing portfolio for $4 million. Included in the purchase was Aurora’s agency approvals.Read More
Marketplace Lender Ponders Non-Agency Mortgages April 20, 2015 Brandon Ivey LendingHome is testing residential originations of non-qualified mortgages, among other products.Read More