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?Read More
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."Read More
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…Read More
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.Read More
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.Read More
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...Read More
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.Read More
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.Read More
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