America’s housing not ready for ever-expanding over-50 population

America’s housing not ready for ever-expanding over-50 population

Harvard/AARP Study: Housing lacks accessibility, affordability for older Boomers

The devil is in the mortgage finance reform details

On the bumpy road to a common securitization platform

Who is Nat Hardwick?

Former LandCastle Title CEO owns NASCAR team, rubs elbows with PGA pros
W S

Items Tagged with 'MSRs'

ARTICLES

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.
Read More

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.”
Read More

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.
Read More

Stonegate posts $57.6 million in revenue in 2Q2014

Growing origination volume, MSRs beat industry trend
Trey Garrison
Stonegate Mortgage Corporation posted strong revenues in the second quarter, up 50% to $57.6 million in the second quarter of 2014 from $38.3 million in the first quarter of 2014.
Read More

Nationstar posts 2Q profits of $67M, up a whopping 174% over 1Q

Beats expectations and regulatory pushback in second quarter
Trey Garrison
Second-biggest nonbank MSR reports quarterly net income of $67 million for the second quarter, a 174% increase over the $24 million in the first quarter 2014, despite regulatory pushback and scrutiny.
Read More

Walker & Dunlop post declining revenue of $85.3M for 2Q

Overall slowdown in mortgage originations pull back sales, profits
Trey Garrison
Walker & Dunlop posted total revenues for the second quarter 2014 of $85.3 million, a 6% decrease from $90.7 million for the second quarter 2013.
Read More

KBW: 2Q mortgage banking earnings down YOY

Nonbanks see stronger gains as banks leave space
Trey Garrison
With many of the major banks and nonbanks in the mortgage space having reported their second quarter earnings and more coming this week, mortgage banking earnings generally increased quarter-over-quarter, but this was off of the low base set with the first quarter drop.
Read More

$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.
Read More

Ocwen's regulatory burdens send up red flags and drive down stock price

Analysts lower price target, Citi drops buy recommendation
Trey Garrison
Heightened regulatory burdens and compliance costs continue to drag on Ocwen Financial a day after its second quarter earnings are announced.
Read More

Nationstar faces challenges as Wall Street turns skeptical on nonbank MSRs

Valuation, regulatory headwinds come despite growing customer satisfaction
Trey Garrison
Nationstar isn’t facing quite the level of pushback or regulatory targeting as its counterpart Ocwen Financial, but it is having a devil of a time lately and it was reflected in reports and on the market boards Friday.
Read More