Trending Thursday: CFPB data collection worse than the NSA?

Trending Thursday: CFPB data collection worse than the NSA?

Slowly but surely GSE shareholders cutting into Treasury, FHFA secrecy

RealtyTrac: All-cash sales at lowest since late 2009

Institutional investor share at 15-year low

3 tips to recruiting Millennial loan officers

How to reverse the aging mortgage industry
W S

Servicing

Steven Cohen’s Point72 Asset Management discloses passive stake in Nationstar

Now owns more than 5% of nonbank
Ben Lane
A filing with the Securities and Exchange Commission revealed that Point72 Asset Management and its founder, billionaire Steven Cohen, own more than 5% of Nationstar Mortgage Holdings.
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From HW Magazine

How servicers can change the conversation with consumers

Scratching the bad letter
Ben Lane
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.”
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Citi fails National Mortgage Settlement loan modification metric

NMS reports on correction action plans
Trey Garrison
Citi failed one of the new metrics used by the National Mortgage Settlement and the Monitoring Committee regarding loan modifications. What about the other big banks?
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High-risk FHA loans push mortgage risk index up in May

Agency loans hit new series high
Trey Garrison
The composite National Mortgage Risk Index for Agency purchase loans stood at 12.33% in May, up 0.4 percentage point from the average for the prior three months and up 0.7 percentage point from a year earlier. Worried yet?
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Impac boosts lending capabilities with $30M loan from Macquarie Group

Plans to use funds to “opportunistically” retain mortgage servicing rights
Ben Lane
Impac Mortgage Holdings, which is already having itself quite a year, is set to grow its lending capability even more, thanks to a capital infusion from the Macquarie Group. Here are the details.
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OCC: Mortgage performance better in 1Q15

94.2% of mortgages current, up from 93.1%
Trey Garrison
The performance of first-lien mortgages serviced by eight national banks improved during the first quarter of 2015, according to the Office of the Comptroller of the Currency’s quarterly report on mortgage performance. Here's what happened.
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Hatteras Financial acquires Pingora Asset Management

Expects to begin investing in mortgage servicing rights in July
Ben Lane
Hatteras Financial, a real estate investment trust, announced the acquisition of Pingora Asset Management and Pingora Loan Servicing, a specialized asset manager focused on investing in new production performing mortgage servicing rights and servicing residential mortgage loans.
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Fitch now has “positive” outlook for Ocwen’s servicer ratings

Cites operational improvements in wake of NYDFS settlement
Ben Lane
Mere days after Standard & Poor’s cut the servicer rankings of Ocwen Loan Servicing from “average” to “below average," citing a “deficient” internal controls environment that has not kept pace with the company’s growth, the Ocwen Financial ratings roller-coaster continues.
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MBA, PwC white paper tracks powerful impact of nonbank servicing

Nonbank mortgage servicers have changed the industry
Trey Garrison
The Mortgage Bankers Association and PricewaterhouseCoopers today announced the release of The Changing Dynamics of the Mortgage Servicing Landscape, a white paper looking at how nonbank servicing changed the industry, and where it’s heading tomorrow.
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Black Knight: National delinquency rate up 4% from April

Still down from last year
Brena Swanson
While the national delinquency rate rose 4% from April to 4.96%, it’s still down nearly 12% from last year. Also, aside from the last two months, the national delinquency rate is still the lowest it’s been since the summer of 2007.
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