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What We’re Hearing: No GSE Capital in Nine Months / But Don’t Sweat It / Mel Knows / Fairholme’s Bad Bet on Sears / Impac Borrows Against Fannie Mae MSRs / Blend’s Clients Include Movement Mortgage

March 24, 2017
Paul Muolo
Not only does Fairholme own Fannie and Freddie shares, it has an investment in Sears, the troubled department store chain...
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A New Low for Walter’s Share Price: 64 Cents

March 24, 2017
Paul Muolo
When Walter Investment released fourth quarter results last week it declined to hold a live earnings call – somewhat of a rarity…
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A Change in the GSE PSPAs Coming Soon? Don’t Bet on It…

March 23, 2017
Paul Muolo
Waiting for a change in the GSE PSPAs is like waiting for Godot...
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Wall Streeter Phillips to Play ‘Critical’ Role at Treasury on GSE Reform; GSE ‘Principles’ Coming Soon from Trump?

March 22, 2017
Paul Muolo
Calabria joined the Trump administration from the conservative Cato Institute and is no fan of the GSEs...
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Subservicing Sector Starting to Look Crowded As More Firms Choose ‘Capital Light’ Strategy

March 21, 2017
Paul Muolo
The nation’s three largest residential subservicing firms are: Cenlar, Dovenmuehle and Loan Care. All are nonbanks.
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MBA: Net Origination Profit Plunged 68 Percent in 4Q16

March 21, 2017
Paul Muolo
MBA noted that including all business lines, 73 percent of the mortgage companies posted pre-tax profits for the fourth quarter, down from 94 percent in 3Q16…
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Short Takes: Coming Soon: Falling Interest Rates? / Walter Gets Smacked Down Again / Embrace Sends its Top LOs to Boca / CoreLogic’s $5 Million Man (Rounded) / A New Hire for Silver Hill

March 21, 2017
Paul Muolo
All totaled, the new CoreLogic chief could earn almost $5 million...
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DOJ Filing Reveals Trump Wants to Keep the CFPB, but with a ‘Removable’ Director

March 20, 2017
Thomas Ressler
Attorneys with the Ballard Spahr law firm noted that, “If the DOJ gets its way, the CFPB would remain intact with a director that President Trump can replace at any time.”
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Prestwick Selling $335 Million of Fannie Mae Servicing Rights

March 20, 2017
Paul Muolo
A small portion of the loans are characterized as non-owner occupied…
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Short Takes: Walter Retains M&A Advisor Houlihan Lokey / A Penny Stock / $902 Million of Losses / Rebranding for MountainView / Ocwen Shuffles its Board

March 20, 2017
Paul Muolo
Over the past three years, Walter Investment Management has lost a whopping $902 million...
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