Articles by Jacob Gaffney

Fannie Mae CEO: We will return to profit in 2018

"We are a b2b business, we’re not a b2c business."
“We had a solid quarter in that our business performance was excellent,” Timothy Mayopoulos told HousingWire by phone. “The quarter’s earning are not a reflection of our underlying business. We will also benefit from the lower corporate tax rate.”
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Fannie Mae earnings show 4Q net loss of $6.5 billion

Expected to ask Treasury for funds to reduce deficit
Fannie Mae reported a net loss of $6.5 billion and comprehensive loss of $6.7 billion for fourth quarter 2017. The company also added it expects to request an expected billion-dollar provision from the Treasury to eliminate its net worth deficit.
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ServiceLink lures auction talent from RealtyBid

Welcomes Calier “CJ” Russell
In his new role, Russell will be responsible for internal operations as well overseeing ServiceLink Auction’s growing market share by supporting the company’s clients in their loss mitigation and disposition strategies, the company said in a statement.
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Black Knight nets $111M in profit on new tax code

"Another successful year for Black Knight"
Mortgage analytics and software provider Black Knight announced its results for both the fourth quarter of 2017 and for the full year. The company reports revenues for the fourth quarter of 2017 increased 2% to $267.5 million from $261.5 million in the prior year quarter.
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Safeguard launches photo app at MBA Servicing

Field servicers get video backup
The new application will introduce panoramic photos, video and audio to the field services industry, according to an advance statement released to HousingWire. The Photo Direct options should provide servicers with fuller property-condition views to better assess property damage and validate bids for repair work.
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Expert warns latest Ginnie Mae regs aren't improving FHA and VA pricing as intended

Questions remains exactly why this is happening
Brent Nyitray, director of capital markets for iServe Residential Lending, said in an email today that loan officers are taking note of “lousy” pricing for FHA and VAs higher up in the rate stack. But, Ginnie Mae just issued new regulations to prevent serial refinances. Why isn't it leading to higher demand?
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Jamie Dimon: Chase will soon offer digital mortgages on smartphones

All credit extended is "super-prime"
Speaking to CNBC, Jamie Dimon said the bank plans to offer an all-digital mortgage to its customers this year. Dimon added that consumers are “in very good shape,” adding that all the credit “extended in the United States,” is super-prime quality, and that includes mortgages. Click here to watch the full interview.
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