Short Takes: Wells Fargo’s (Mortgage) Job Cuts / Annaly Poised to Buy More MSRs? / FHFA Seeks Comment / Eight Consecutive Quarters of Feeling Bad About Profit Margins / PenFed Hires a TV Journalist September 12, 2018 Paul Muolo Annaly may use the proceeds to fund additional acquisitions of mortgage servicing rights… Read More
Many Lenders Plan on Keeping Underwriting Standards ‘As Is’ September 11, 2018 Brandon Ivey One lender confessed: “I think we’ve been too accepting of credit problems and we are going to start pulling back now…”Read More
Blackstone Takes a Hard Look at Some of Incenter’s Mortgage-Related Operations September 11, 2018 Paul Muolo As one source put it: “Blackstone wants you to make it big or you’re gone.”Read More
Eager to Buy Jumbos, Redwood Offers a ‘Working Capital’ Option September 11, 2018 Brandon Ivey During the second quarter Redwood deployed $40.0 million in customized financing for nonbanks…Read More
MIAC Offering Fannie/Freddie MSR Package September 11, 2018 Paul Muolo The selling institution is described as a mortgage banking firm with a west coast concentration...Read More
Short Takes: What Will Become of the GSEs’ CSP? / How Much Is it Worth? / Capital One Warehouse Joins MBA / Two Utah Nonbanks Celebrate Anniversaries / PRMI Hires Former Wells Fargo LO September 11, 2018 Paul Muolo The nonprofit exchange must pay for any “property” associated with CSS…Read More
Correspondent Channel a Flashpoint in Competitive Jumbo Market September 10, 2018 Brandon Ivey While total jumbo originations among the lenders increased by 37.1 percent on a quarterly basis, correspondent volume was up by 63.7 percent.Read More
HECM Production Gets Clocked in 2Q18. A Long Reverse ‘Winter’ Ahead? September 10, 2018 George Brooks Analysts blamed the reduction in volume on the new lower Principal Limit Factors...Read More
Incenter, MorVest Selling Bulk Servicing Portfolios September 10, 2018 Paul Muolo Both these MSR portfolios have low note rates…Read More
Mortgage Bankers Add Jobs, Brokers Trim Slightly September 10, 2018 Paul Muolo Jerry Selitto, president of Better Mortgage: “We continue to hire and we just opened our second California office in Irvine…”Read More
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