Rob Kessel, Marc Felisky, Lindsay Hill, and Glen Brown have formed a new company called Compass Analytics LLC, San Francisco, that will provide outsourced hedge management services and license its pipeline risk management analytics to customers.Compass also announced the addition of its 12th pipeline risk management client. Compass said its analytics product includes pipeline valuation, sensitivity, and execution of all mortgage products with enhanced capabilities for hybrid adjustable-rate mortgages and jumbo and alternative-A products. Other features of Compass's analytics are flexible coverage and pull-through modeling; profit margin and hedge cost modeling and definition; hedge analytics; flexible reporting; accounting support, including FAS 133; and fallout and profitability analysis. Compass can be found on the Web at http://www.compass-analytics.com.
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The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
2h ago -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
6h ago -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
9h ago -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
11h ago -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
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The latest rate increases contributed to a 1% drop in purchases from the previous week and 15% annually, according to the Mortgage Bankers Association.
April 24