The devil is in the mortgage finance reform details

The devil is in the mortgage finance reform details

On the bumpy road to a common securitization platform

Housing shouldn’t look at any color but the color of money

People with bad credit and bad habits should be squeezed out of housing

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros
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Items Tagged with 'Mortgage servicing rights'

ARTICLES

Fannie Mae: Lenders ask these 4 questions about MSRs

All about transfer and execution
Jacob Gaffney
“Servicing of mortgage loans can be an important, valuable component of a lender’s business and we thought it would be helpful to address some of these topics,” writes Fannie Mae's Stephen Pawlowski.
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Rushmore Loan Management Services to open branch in Puerto Rico

Expands loan servicing operations with office in San Juan
Ben Lane
The company plans to hire approximately 50-60 new employees to staff the San Juan office. According to Rushmore CEO Terry Smith, Rushmore will immediately begin servicing approximately 4,000 residential loans and REO when the branch office opens in November.
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KBRA: More smoke than fire in Ocwen’s restated earnings

Cautions that MSR transactions could see more regulatory scrutiny
Ben Lane
Kroll notes that audit firms, like Deloitte & Touche, advise public companies on how to structure their finances related to GAAP, however “the public company is ultimately responsible for the public disclosure,” which leads to the public company “taking the blame” for what its auditor advised it to do.
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CFPB expresses “heightened” concern over MSR transfers

New bulletin reminds servicers of responsibilities to borrowers
Ben Lane
In the new bulletin, the CFPB said that it is reminding servicers of their responsibilities to borrowers, “in light of potential risks to consumers that may arise in connection with transfers of residential mortgage servicing rights.”
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Who said the MSR market was frozen?

Another billion-dollar bulk portfolio available for sale
Ben Lane
Ocwen Executive Chairman William Erbey called the mortgage servicing rights market frozen in April. While that may be true from his perspective, recent activity shows a fair amount of activity elsewhere in the space.
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Weak mortgage production drags PHH down again

Company posts loss of $59 million despite fleet business sale
Ben Lane
On the positive side, the $27 million loss from the mortgage production segment was an improvement from the $60 million loss suffered by the segment in the first quarter of 2014. By contrast, though, the segment pulled in a profit of $44 million in the second quarter of 2013.
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$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale

Loans carry weighted average note rate of 3.75%
Ben Lane
Fannie Mae and Ginnie Mae each back a separate pool of the underlying loans. IMA is requesting separate bids to be submitted for the Fannie pool and the Ginnie pool to allow consideration by the seller to sell the pools separately.
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HomeStreet sells MSRs, mortgages

Reduces mortgage concentration
Brena Swanson
HomeStreet sold $211 million of its held-for investment single-family mortgages in the second quarter, recognizing a $3.9 million gain.
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Nationstar: "Our capital and liquidity position remain strong"

FHFA blocked servicer's MSRs
Brena Swanson
Although the Federal Housing Finance Agency Office of the Inspector General’s most recent report over nonbank special servicers tried to keep the troubles of one company anonymous, all fingers point to Nationstar.
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$1 billion Fannie Mae bulk MSR portfolio coming to market

Seller is “well-known” and “established”
Ben Lane
The loans carry a weighted average note rate of 4.11% and have zero delinquencies.
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