Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too November 8, 2018 Paul Muolo About 41 percent of Impac's volume now entails non-QM lending...Read More
Redwood Accelerates Diversification Efforts, Remains Profitable in Third Quarter November 8, 2018 Brandon Ivey Redwood CEO Chris Abate: “Our game plan in the third quarter was a bit unconventional – we ran an up-tempo offense, squarely in the face of mortgage market headwinds.”Read More
Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator November 8, 2018 Paul Muolo Several months ago, rumors began to surface that Pacific Union might be for sale...Read More
Most Products Saw a Decline in 3Q18, but Expanded-Credit Loans Bucked the Trend November 8, 2018 John Bancroft A few mainstream lenders are starting to take notice, but most of the action is at a handful of nonbanks that have spearheaded the sector’s rise…Read More
HUD Working on MOU to Clarify Use of False Claims Act November 8, 2018 George Brooks FHA is considering its Mortgagee Review Board as an alternative to the FCA in meting out penalties...Read More
Short Takes: GSE Oversight Hearing Delayed Yet Again / Coming in 2019? / Maxine Water’s GSE Reform Bill? / Bermuda Insurer Partners with Radian / Ocwen’s New Name? Maybe Newco? / PrimeLending’s New Hire November 7, 2018 Paul Muolo Will Rep. Maxine Waters tackle GSE reform?Read More
Ocwen’s New CEO Talks About Severance Payments, but Growth Too November 7, 2018 Paul Muolo Ocwen CEO Glen Messina: "Having completed the merger, we now have unrestricted access to PHH employees..."Read More
Expanded-Credit MBS Underwriting Not Loosening Much, Prepayments Remain High November 7, 2018 Brandon Ivey Risk layering remains uncommon on the new breed of expanded-credit mortgages…Read More
QM Patch Expiration Could Shift More High-DTI Loans to FHA November 7, 2018 George Brooks Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...Read More
NYSE Suspends Trading in Ditech, Nation’s 13th Largest Servicer November 7, 2018 Paul Muolo Ditech said it has no plans to appeal the NYSE’s decision.Read More