An Earnings Increase at Flagstar; Thrift Keeps Selling MSR Assets October 27, 2015 Paul Muolo Over the past five quarters, Flagstar has unloaded $25.2 billion of residential servicing rights.Read More
Correspondents Up, Brokers Down in 3Q15 October 27, 2015 John Bancroft Meanwhile, the volume of securitized retail loans was down 3.6 percent from the second quarter.Read More
Short Takes: FBR Says Goodbye to PennyMac / A Sweet Dividend At Least / Revenue Figures for Radian’s Non-MI Unit / The Earnings Power of Flagstar’s Balance Sheet / Genworth Agrees to Sell European MI Division October 27, 2015 Paul Muolo However, in a final note on the companies, FBR analyst Paul Miller called PMMIT an “outperform,” while giving it a price target of $20…Read More
Suddenly, 2016 Residential Production Isn’t Looking So Bad; Then Again… October 26, 2015 John Bancroft Mike Fratantoni, chief economist at the MBA, said the purchase market could keep growing right off the end of the forecast table.Read More
Shake Up in Mortgage Division at Citizens Bank October 26, 2015 Paul Muolo During his career, Chris Nard also headed ORI’s mortgage insurance division, Republic Mortgage Insurance.Read More
Mortgage Trade Group Chief Marc Savitt to Run for Congress, Again October 26, 2015 Paul Muolo As the head of the NAIHP, Savitt has been a frequent critic of the Consumer Financial Protection Bureau...Read More
Short Takes: $500,000 the New GSE Loan Limit? / Coming Soon: The GSE Scorecard / CEO Pay Capped? / Declining Earnings and Revenue for ASPS / Mortgage Network Opens New Office in West Roxbury October 26, 2015 Paul Muolo In other GSE news, the Senate version of legislation to cap CEO salaries at Fannie and Freddie is moving along and a vote could happen this week…Read More
Trouble Ahead? Non-Mortgage ABS Issuance Down Sharply in 3Q October 23, 2015 John Bancroft On a year-to-date basis, new ABS production was down 4.5 percent from the first nine months of 2014. Read More
Stonegate Mortgage Shedding Branches? Or Perhaps More? October 23, 2015 Paul Muolo Firms looking to take over those branches from Stonegate include Skyline Home Loans and Prospect Mortgage...Read More
Fannie, Freddie CEOs Urge Patience to the Industry on the Single GSE Security October 23, 2015 John Bancroft The CSP joint venture is staffed and “no longer living like poor cousins” at the GSEs themselves.Read More
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