Stearns Reorganizes a Bit, Cuts 159 Jobs in California, but Plans to Rehire in Texas; Seeks LOs October 19, 2017 Paul Muolo “We continue to be bullish on the business,” said Stearns CEO David Schneider.Read More
Ocwen’s Departure from the Wholesale Sparks Speculation: An Eventual Sale? October 19, 2017 Paul Muolo Ocwen’s recent barrage of regulatory settlements, coupled with the sale of the wholesale division and the recent hiring of investment banker Chris Whalen, is sparking talk...Read More
Short Takes: The Little Guy Gets a G-Fee Break / A Coming Spike in G-Fees? / More Financial Maneuvers by Radian / A Hot Streak for Non-Agency Prime MBS / A Stock Market Crash Warning from Treasury Secretary Mnuchin October 18, 2017 Paul Muolo and Brandon Ivey Might this suggest that g-fees charges could spike next year when zero hour comes?Read More
U.S. Bancorp Grows Residential Production by Almost 10 Percent October 18, 2017 Paul Muolo Compared to the same period a year ago, residential loan production declined by 19.6 percent...Read More
Arch Continues Re-Insurance Transactions Started by UG; New Issuance the First to Receive a Rating October 18, 2017 Brandon Ivey Mortgages delivered to the GSEs with an unpaid principal balance of $29.30 billion are included in the transaction.Read More
Radian Discloses More Pain from Services Unit (Clayton); Tennyson is Out as President October 18, 2017 Paul Muolo The MI also terminated Jeff Tennyson as president of the unit. No replacement will be named, a spokeswoman told IMFnews.Read More
Promontory MortgagePath Expands Private-Label Origination Platform October 17, 2017 Paul Muolo PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…Read More
Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization October 17, 2017 Paul Muolo With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms... Read More
Redwood Aims for Jumbos Outside of Banks’ Focus October 17, 2017 Brandon Ivey Redwood’s Choice loan program allows for debt-to-income ratios of up to 49.9 percent while the limit for Select is 43.0 percent…Read More
Institutional Investors Reduce Positions in PHH. Meaning? October 17, 2017 Paul Muolo The disclosures aren’t entirely surprising given that PHH recently wrapped up a generous buyback offer…Read More