Short Takes: TRID Loan Delays, Yes / Nationstar Share Price Hits New Low / Mortgage Employment Not So Bad / Don’t Roll Your Student Loan into the Mortgage / Good News for MI Firms December 9, 2015 Paul Muolo The TRID rule delays loan closings by at least 11 days at this shop...Read More
Fannie/Freddie Business Fell Sharply in November, Footprint Shrinking December 8, 2015 John Bancroft It's that time of the season: MBS issuance was down 30.6 percent at Fannie and off 17.4 percent at Freddie.Read More
SF Credit Union Rolls Out No $ Down, $2 Million Jumbo Loan; No MI Too December 8, 2015 Brandon Ivey Sky high housing costs in the Bay Area prompts one lender to roll out a $2 million jumbo loan, no money down...Read More
The ‘New’ Subprime Sector: Small Loan Volumes, Big Interest From Investors December 8, 2015 Paul Muolo PE firms and hedge funds are showing a strong interest in the emerging class of subprime residential lenders...Read More
Origination Profits Tumble Almost 19 Percent in 3Q15 as Costs Rise December 8, 2015 Paul Muolo The trade group’s profitability calculation is based on average production volume of $614 million per company in the third quarter. Read More
Short Takes: Mid-sized Nonbank Open to Offers? / Purchase Lending Looking Up, Way Up / A Revision to the Purchase Number / Tighter Credit is Here / SFR Firm Hires COO December 8, 2015 Paul Muolo and Sherry Muolo Time to rejoice: purchase-lending could regularly top $1 trillion a year...Read More
Mortgage Loan Officers in Demand, Servicing Workers Not So Much December 7, 2015 Sherry Muolo According to its website, Movement Mortgage also seeks to hire underwriters, a mortgage licensing specialist and an associate general counsel. Read More
Hatteras Issues First Jumbo MBS; Stonegate Mortgage Top Contributor December 7, 2015 Brandon Ivey Stonegate Mortgage is the top contributor to the deal with a 32.3 percent share, followed by Prime Lending with a 21.6 percent share...Read More
Short Takes: The New York Times-MBA Dust Up / Risk-Sharing in Jeopardy? / Garrett Advises on an ‘Investor Diet’ / Credit Enhancement and the Hatteras Jumbo MBS Deal / Michigan Mutual Hires Daniel Jacobs December 7, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo What year-end slow down? Michigan Mortgage is searching for 14 new employees for ten of its 28 locations. A majority of the jobs are for loan officers and underwriter positions...Read More
Fannie Mae Provides Record Multifamily Financing for NYC’s ‘Stuy Town’ December 7, 2015 Carisa Chappell However, the note rate was not disclosed. The originator of record is Wells Fargo Multifamily Capital...Read More
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