Ocwen Lost $87.3 Million in 2Q16, but Originations Increased 35 Percent July 27, 2016 Paul Muolo However, one bright spot was originations, which increased sequentially by 35 percent to $1.32 billion.Read More
Thanks to ‘Brexit’ Vote and Resulting Refis, Origination Capacity is Strained, and Then Some July 26, 2016 Brandon Ivey Applications and refis are so robust that production "capacity" is now a major concern...Read More
Top 40 Originator EverBank in Takeover Talks with ‘Well-Respected’ Financial Services Firm July 26, 2016 Paul Muolo However, EverBank has been cutting back its presence in residential finance, a trend that was cemented when Tom Wind left the company in December...Read More
Flagstar Grows Originations by 31.1 Percent in Second Quarter July 26, 2016 Paul Muolo Flagstar capitalized its residential servicing portfolio at 99 basis points at June 30, compared to 106 bps at March 31.Read More
Short Takes: Ginnie Mae MSR Demand: Deadly Slow? / FHFA IG Says Agency Shirking Its Duty / Summer Foreclosure Rates Looking Good (for Consumers) / Prepayment Speeds Spike / A New Hire at NCB July 26, 2016 Carisa Chappell, Brandon Ivey, Paul Muolo, and Sherry Muolo The IG accused the FHFA of shirking its responsibility to effectively examine Fannie Mae and Freddie Mac...Read More
Megabank Originations Surged in 2Q16, but Mortgage Profits Sagged July 25, 2016 John Bancroft The bigger issue was a sharp drop in net servicing income…Read More
In a Move to Boost Liquidity, Ginnie Will Update ‘Acknowledgment’ Agreement July 25, 2016 Paul Muolo Several large banks accept the current acknowledgement agreement, while others avoid it like the plague.Read More
Small Banks and Nonbanks Rally Around Bill that Provides CFPB Relief July 25, 2016 Thomas Ressler The Community Mortgage Lenders of America said the bill strikes a balance of maintaining safe lending while freeing up resources so more consumers can obtain a mortgage.Read More
Greenwich-Based Investment Advisor Reveals 8.3 Percent Stake in PHH July 25, 2016 Paul Muolo Who is Silver Point and why does it now own so much of PHH?Read More
Short Takes: Big Servicing Markdowns for Nationstar and Walter? / The Tally, Thus Far, on MSR ‘Marks’ / Five Years and $7,000 / Victorian Joins CMLA / A Promotion at Capital Bank July 25, 2016 Paul Muolo Since the CFPB was born, the cost to originate a home mortgage has exploded...Read More
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