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PennyMac Taps Structured Finance Vehicle to Lever MSRs

May 6, 2021
Paul Muolo
Notes backed by MSRs could become plentiful if a strategy employed by PennyMac Financial and its sister company catches fire.
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The Fire Still Burns Bright on GNMA EBOs

May 6, 2021
Paul Muolo
The Ginnie early buyout game is still afoot with whole-loan auctions fanning the flames. But how much longer can the gravy train last?
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Blood Boils Regarding Fed Chair's Stance on NBs and CRA

May 6, 2021

Powell didn’t mince words: "You see activities that had once been principally the province of banks moving into the nonbank sector."


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A New Entrant in Mortgage Banker Finance: SBNY

May 6, 2021
Paul Muolo
It’s not every day the warehouse lending arena snags a new entrant, but Signature Bank is sitting on a ton of cash in search of a home.
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Slow Growth in the Servicing Arena, Wells Stills Leads the Pack

May 6, 2021
John Bancroft

Wells Fargo once again ranked first, followed by Cenlar, JPMorgan Chase, Mr. Cooper and Quicken Loans...


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The M&A Binge is Here, for Large and Small Alike

May 6, 2021
Paul Muolo
It should be a busy year for mortgage company M&A. One driver: the cap on loan sales through the GSE cash window.
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Biden’s $15,000 First-Time Homebuyer Credit Introduced as Bill

May 6, 2021
Maria Volkova
Many industry analysts believe the tax incentive, given a lack of housing inventory, would act as a subsidy to sellers rather than an aid to homebuyers.
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Grapevine: The Big Boys (Nonbanks) Report / GOS Down, MSRs Up

May 6, 2021
Paul Muolo and Brandon Ivey
Originations remained strong in 1Q21 but GOS suffered. The good news: MSR owners had a golden opportunity to mark up the asset.
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Rocket Posts Strong Results for 1Q21 but Share Price Gets Clobbered

May 5, 2021
Paul Muolo

One bit of positive news: the company marked up the asset value of its MSRs by a stunning $1.44 billion to $4.31 billion, a 50.3% sequential improvement.


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Lower Earnings for Radian as NIW Declines in 1Q

May 5, 2021
Paul Muolo

Radian's MI provision for losses fell to $45.9 million in 1Q21 from $56.3 million in the fourth quarter.


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