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Grapevine: The Fed Has Spoken / Departing the Industry…

November 3, 2022
Paul Muolo
Not a total surprise, but the central bank hiked short-term rates by 75 basis points this week. Mortgage rates hardly budged but residential finance professionals are worried about the quarters ahead. Meanwhile, more lenders are heading for the exits.
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Production Tanks at Rithm, MSR Markups Save the Day

November 2, 2022
Paul Muolo
Its positive servicing mark for 3Q22 totaled $143 million.
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loanDepot Scales Back a Repo Line, Announces New JV

November 2, 2022
Paul Muolo
The expiration date on the repo was extended to Oct. 26, 2023...
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First Republic: Rough Times Ahead for Lending Margins

November 2, 2022
Brandon Ivey
In a nutshell, the problem is margin compression, not credit...
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FHA Chief Seeks Stable Funding for IT Upgrades

November 2, 2022
Monica Hogan
Gordon said the prolonged confirmation process regarding her appointment interrupted the continuity of leadership at the agency.
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Increasingly, Fannie and Freddie are Sticking to Core Activities

November 1, 2022
Brandon Ivey
Noncore business at the GSEs is declining due to both diminished demand and a change in pricing policies made by the FHFA...
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WARN Act Violations Cited in FGMC Bankruptcy Case

November 1, 2022
Paul Muolo
The information is based on an amended declaration made by CEO Aaron Samples...
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LO Headhunting Continues Unabated (Somewhat)

November 1, 2022
Paul Muolo
Hiring more loan officers, now? Mortgage bankers, at times, can be an optimistic lot....
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VA Proposes Revisions to Interest Rate Reduction Refi Loans

November 1, 2022
Monica Hogan
Comments are due Jan. 3 of next year...
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Expanded-Credit MBS Issuance Off by Almost 20%

October 31, 2022
Brandon Ivey
Angel Oak ranked second with EC MBS issuance of $579.6 million...
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