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CFPB Sanctions Paymap and LoanCare Over ‘Frequent Payment’ Mortgage Ads

July 29, 2015
Thomas Ressler
The regulator determined that consumers were lured with deceptive promises of savings and misled about when their payments would be applied.
Read More

Texas Lender About to Hit the Market; Five Mid-Sized Lenders for Sale?

July 29, 2015
Paul Muolo
Are more lenders considering selling their companies because of large potential fines they’re facing from the CFPB and HUD?
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David Lykken Leaving Mortgage Banking Solutions After Eight Years

July 29, 2015
Paul Muolo
Lykken said he wants to transform "one company at a time."
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Short Takes: CitiMortgage Posts Highest HAMP Denial Rate / Luxor Cuts Stake in Altisource / CFPB Cracking Down on Timeshares? / Want to Buy a House? Move to the Midwest / Ty Kern Lands at Home Point

July 29, 2015
Paul Muolo and Brandon Ivey
“The question was a surprise to many investors and resulted in clients questioning whether a CFPB crackdown in the timeshare market was ahead,” writes Compass Point analyst Isaac Boltansky…
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EverBank Boosts Originations, Sells $5.5 Billion of Servicing Rights to Green Tree

July 29, 2015
Brandon Ivey
Purchase mortgages accounted for 58 percent of EverBank's originations in the second quarter.
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Hatteras Plans to Issue Jumbo MBS by Yearend

July 29, 2015
Brandon Ivey
At least five lenders are currently delivering jumbo ARMs to Hatteras on a flow basis.
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Short Takes: Trump Mortgage an Operational ‘Train Wreck’? / Parkside Launches Non-QM Loan for Investors / What Would ‘Crush’ Housing? / mREIT Posts Strong Earnings

July 28, 2015
Paul Muolo, Brandon Ivey, and Sherry Muolo
Operational problems at Trump Financial? It's all history now...
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Loan Production Spikes at Guild Mortgage

July 28, 2015
Sherry Muolo
Purchase loans made by Guild totaled $4.4 billion in the first half of 2015, accounting for 66.1 percent of all production.
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Former GMAC Mortgage President Abreu Launches Retail/Wholesale Lender

July 28, 2015
Paul Muolo
Abreu ran GMAC from October 2009 to 2013. He then went to work for Ellington Management Group where he headed originations.
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Flagstar Production Up Almost 17 Percent; Sells $386 Million of IOs

July 28, 2015
Paul Muolo
Meanwhile, the thrift’s gain-on-sale profit totaled 121 basis points compared to 127 in 1Q and just 82 in the second quarter of 2014.
Read More
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