MIAC Offering $2.1 Billion of GSE and Ginnie MSRs. Larger Deals Pending? July 19, 2018 Paul Muolo Meanwhile, several large MSR packages are currently out for bid. Read More
Short Takes: Investors Unite is Not Happy / Are the GSEs ‘Zombie’ Like? / Non-QM Lender Verus Hikes Loan Cap to $5 Million / LoanSnap Raises More Capital / A New Hire for Servicing Advisor MorVest July 19, 2018 Brandon Ivey and Paul Muolo Of course, there are some in the industry who will argue Fannie and Freddie are hardly zombie-like at all...Read More
CFPB to Shrink Advisory Group Memberships, Cut Costs by More Than Half July 18, 2018 Yemeng Yang The budget for the three advisory groups will be limited to $150,000 each per year.Read More
U.S. Bancorp Posts a 10 Percent Gain in Mortgage Production July 18, 2018 Paul Muolo The Minneapolis-based depository posted $191 million of mortgage banking revenue for the second quarter…Read More
Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC July 18, 2018 Paul Muolo The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.” Read More
Nationstar Reports 2Q18 Results: Income and Servicing Down, Originations Up July 17, 2018 Paul Muolo Nationstar said it continues to “evaluate significant servicing growth opportunities” and expects to end 2018 with at least $530 billion of MSRs...Read More
Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep July 17, 2018 Carisa Chappell The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director... Read More
Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction July 16, 2018 John Bancroft, Brandon Ivey, and Paul Muolo Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...Read More
A 23 Percent Increase in Home Lending for Bank of America July 16, 2018 Paul Muolo Bank of America no longer breaks out mortgage income separately.Read More
Phoenix Announces GSE Flow MSR Auction July 16, 2018 Paul Muolo The average loan size could be as high as $227,000…Read More