Are record-low interest rates masking high-cost mortgage lending?

Are record-low interest rates masking high-cost mortgage lending?

Five leading economists weigh in and the answer may surprise you

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time

The New York Times rambles, and mangles mortgages along the way

Mortgage finance and mortgage regulation aren’t the paper’s strong suits
W S

Articles by Ben Lane

How much offshore staff do the top mortgage servicers use?

Fitch shines a light on offshoring and its potential consequences
Ben Lane
Several of the country’s largest mortgage servicers already have as much as a third of their mortgage servicing staff offshore. A new report from Fitch Ratings details the rise of offshoring and what it means for the future of mortgage servicing.
Read More

Ocwen’s servicer ratings downgraded…again

Morningstar becomes latest to weigh in on Ocwen’s issues
Ben Lane
"The forecast for the residential mortgage servicer, residential vendor, and residential prime mortgage servicer rankings is 'Unfavorable,'" Morningstar said. "Morningstar believes that continuing regulatory scrutiny could have further negative consequences for OFC’s residential mortgage servicing business."
Read More

Auction.com partners with Google to predict housing trends

Nowcast will predict in real time
Ben Lane
The companies are calling the report a first for the real estate industry, because it combines industry data, proprietary company transactional data and publicly available Google Trends data to predict market trends as they are occurring, instead of waiting weeks to see the findings of other benchmark studies.
Read More

Fidelity National Q3 revenue rises over 3Q13

$1.7 billion in total revenue equals 2Q14
Ben Lane
Fidelity’s third-quarter revenue of $1.7 billion equaled its second-quarter revenue, which also came in at $1.7 billion, and was also up from $1.6 billion in the second quarter of 2013.
Read More

Hilco Real Estate Finance sold, rebrands as Jordan Capital Finance

Will focus on “fix and flip” investors; offer lines of credit up to $5 million
Ben Lane
“Following such a successful first year and a half of lending, originating loans in approximately 20 states and rapid expansion of the operations, we decided that the time was right to carefully transition the company to a new capital partner that wanted to aggressively scale the business,” Hilco Real Estate CEO Neil Aaronson said.
Read More

Fannie Mae joins JPMorgan to launch new risk-sharing bond deal

One distinction: cash used as collateral
Ben Lane
Fannie Mae is partnering with JPMorgan to launch a new risk-sharing vehicle, J.P. Morgan Madison Avenue Securities Trust. The first offering in the series checks in at $989 million, but there are differences from Fannie’s previous risk-sharing offerings.
Read More

Moody’s acquires Lewtan Technologies

Lewtan becomes part of Moody’s analytics business
Ben Lane
Lewtan, based in Waltham, Massachusetts, provides solutions to issuers, investors, underwriters and others to administer, monitor and value securitized transactions. Its products cover more than 200,000 bonds and 20,000 securitized deals, serving over 300 financial institutions worldwide.
Read More

MGIC strengthens senior management with three promotions

Also hires chief technology officer
Ben Lane
MGIC Investment Corporation is bolstering its senior management with the promotion of three of its own, Jay Hughes, Sal Miosi and Margaret Crowley.
Read More

Tom Edmunds to lead Amalgamated Bank’s mortgage department

Will look to grow business in NYC, Washington D.C., and Los Angeles
Ben Lane
In this role, Edmunds has been tasked with leading growth of the bank’s residential lending platform for the New York City area. Edmunds has also been charged with spearheading an expansion into the Washington, D.C., and Los Angeles metropolitan areas.
Read More

Two Harbors unveils fourth jumbo RMBS

$356.33 million securitization receives AAA ratings from DBRS
Ben Lane
DBRS cites the high quality of the underlying loans as a strength of the deal. “This transaction exhibits high-quality credit attributes, such as low loan-to-value ratios, strong borrower credit and full documentation on substantially all loans,” DBRS writes in its presale report.
Read More