Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization October 17, 2017 Paul Muolo With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms... Read More
Promontory MortgagePath Expands Private-Label Origination Platform October 17, 2017 Paul Muolo PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…Read More
Surprise: Prime Non-Agency MBS Issuance Spiked in the Third Quarter October 16, 2017 Brandon Ivey The nonprime MBS category includes some deals better categorized as Alt A…Read More
MIAC Sets Auction for Fannie Mae MSR Portfolio October 16, 2017 Paul Muolo The seller of the MSR package focuses on the California market...Read More
CFPB Enforcement Chief Anthony Alexis to Depart October 16, 2017 Thomas Ressler Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…Read More
Stearns Lending Reveals it Has a Mortgage Joint Venture with SoFi October 16, 2017 Paul Muolo Stearns, however, doesn’t service any mortgages for SoFi…Read More
Citadel Receives Ratings from Morningstar; Look for a Nonprime MBS in January October 16, 2017 Brandon Ivey Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings… Read More
Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually October 16, 2017 Paul Muolo A large nonbank is about to enter the second-lien market...Read More
A (Slight) Drop in Originations at BofA for 3Q17 October 13, 2017 Paul Muolo Home equity lending fell even more at BofA: down 12.7 percent from the prior period...Read More
A Modest Uptick in Home Lending for Wells Fargo in 3Q17; Meanwhile, a $1 Billion Legal Charge for Mortgage Investigations October 13, 2017 Paul Muolo Gain-on-sale profits came to 124 basis points, flat from the prior period, and the weakest reading of the past five quarters...Read More
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