Redwood Reports Lower Earnings, but a Rise in Loan Purchases August 8, 2018 Paul Muolo At June 30, Redwood held $5.5 billion of residential loans on its books, up 40.6 percent from a year ago.Read More
Industry Seeks Update from Banking Regulators on Basel, Tier I Capital and MSRs August 8, 2018 George Brooks At the very least, the MBA wants a timeframe from the regulators…Read More
Nonbank Market Share of Ginnie MSRs: 59.9 Percent and Growing August 7, 2018 John Bancroft Wells Fargo’s agency servicing volume dropped by $9.4 billion…Read More
Lobbying on the GSE Issue Moves from Congress to the Executive Branch August 7, 2018 Paul Muolo Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.Read More
PHH Continues to Sell Servicing Rights Ahead of Sale to Ocwen August 7, 2018 Paul Muolo In its earnings statement, PHH notes that Ocwen can terminate the acquisition if “available cash on hand falls below a prescribed amount…”Read More
Short Takes: R-E-S-P-E-C-T is What loanDepot CEO has for Zillow / Houlihan Lokey Advised Zillow / Shellpoint Shines / MBA Likes the Sandbox / A Handful of Promotions at PRM August 7, 2018 Paul Muolo and Yemeng Yang Anthony Hsieh of loanDepot: “Relax everyone. Competition is good." Read More
Secondary Market in Servicing Rights Gained Momentum in 2Q18 August 6, 2018 John Bancroft In 2Q18, there was a huge increase in bulk Fannie MSR transfers…Read More
Wells Fargo Says It’s ‘Very Sorry’ About Calculation Error that Led to Foreclosures August 6, 2018 Paul Muolo Wells Fargo: “As a result of this error, approximately 625 customers were incorrectly denied a loan modification..." Read More
PennyMac Boosts Profit, Originations, Servicing – and Unveils Corporate Reorganization August 3, 2018 Brandon Ivey The lender/servicer also unveiled plans for a corporate reorganization that could triple the firm’s market capitalization rate…Read More
What We’re Hearing: Fannie Mae’s Next CEO Might Be… / Thanks Congress / Amazon Still in the Hunt? / The Top Gainer: Fairway Independent Mortgage / Talking to Ed DeMarco / Gateway Gets a New CEO August 3, 2018 Paul Muolo No wonder why Fannie and Freddie topped Business Insider’s list of the most profitable companies per employee…Read More
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