Short Takes: Some Details on LPMI Volume and Discounting / Happy Birthday to the CFPB and Dodd-Frank? / Do Mortgage Firms Need a Chief Risk Officer? / Annaly Gets a New CEO July 21, 2015 Paul Muolo and Thomas Ressler Happy birthday to the CFPB? Well, it all depends on which side of the mortgage table you sit on...Read More
Phoenix Selling $1 Billion Ginnie Mae MSR Portfolio July 21, 2015 Paul Muolo The loans are being serviced in-house by the seller on a Black Knight servicing system.Read More
Fitch Changes ‘Outlook’ Rating on RoundPoint to Negative, Citing ‘Corporate Restructuring’ July 21, 2015 Paul Muolo To date, RoundPoint has declined to discuss the sale process or much of anything else with the media.Read More
Celebrities, in Theory, Can be Good Mortgagors July 21, 2015 Sherry Muolo Of course, just because some actors earn millions each year doesn’t mean they’re good at holding onto what they bring home...Read More
GSE Servicing Continues to ‘Deconsolidate’ July 21, 2015 John Bancroft Inside the GSEs found that Freddie’s business was more concentrated than Fannie’s...Read More
Securitization of Nonperforming Mortgages Begins to Take Root July 21, 2015 Brandon Ivey Through June 30, issuance of non-agency MBS backed by NPLs and RPLs equaled the volume that analysts at BAML had predicted for the entire year.Read More
Short Takes: More Wholesalers Entering the Market? / Expanding from VA to FL / Cerberus Unit Readies ‘Seasoned’ MBS / When on PHH? / W.J. Bradley Exec Jumps Ship for Home Point July 20, 2015 Paul Muolo and Brandon Ivey A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...Read More
Is the 25-Day Loan Closing a Myth? July 20, 2015 Paul Muolo One senior mortgage manager, who has been in the business for 25 years., said despite what lenders may say about closing times, actual experience is probably worse. “No one is closing under 30 days,” he said. “Most will be over 50 days.”Read More
Nonprime Lender Citadel on a Tear, Hires Correspondent Chief July 20, 2015 Paul Muolo To date, most of Citadel's mortgages have been sourced through loan brokers, but recently the company hired a correspondent manager, Alan Peviani...Read More
Ginnie Mae Securitization Volume Soars July 20, 2015 George Brooks Wells Fargo was the top issuer in 2Q with $16.0 billion, followed by PennyMac and Freedom Mortgage. Read More