Thinly-capitalized companies that became aggregators during the "heady days of the cycle" are among those that likely will be challenged by the market environment ahead, a speaker said during a question and answer session at a Bear Stearns conference in New York.When asked what mortgage companies might be displaced given that the cycle appears to be shifting, Bear Stearns senior managing director and head of structured products Tom Marano said it would likely be the aforementioned companies and possibly real estate investment trusts, which have taken a bit of hit and been through a little recovery already. Mr. Marano, who spoke at Bear's Mortgage Finance & Housing Markets Conference, said there are currently a number of originators up for sale that he has heard hedge fund investors tout as holding value. He said that, from his perspective, he has "yet to see one worth buying." Nevertheless, some might be of value to other market participants who have different business models and strategies, Mr. Marano said.
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Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
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Prevention through new building standards and mapping technology aim to keep home insurance rates down but mortgage bankers see challenges.
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The mortgage lender and servicer announced that Ranjit Bhattacharjee, a capital markets veteran, and Kevin Barker, a financial analyst with two decades of experience, have joined its ranks.
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Because of rising home values, more transactions have proceeds over the federal tax exemption, especially in California, a CoreLogic study found.
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Texas Capital Bank wants to bring the Administrative Procedures Act into the case, but Ginnie Mae said the legal proceedings are outside its scope.
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Better's home equity loan product can be originated in a week or less, the company says.
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