Treasury Criticized for Not Changing Policies Regarding HAMP Servicing Transfers April 29, 2015 Brandon Ivey Among other issues, the SIGTARP cited Green Tree's recent $63 million servicing settlement with the CFPB and Federal Trade Commission.Read More
Blackstone Hires Former Lehman MGD Libman to Head Mortgage Unit April 29, 2015 Paul Muolo Blackstone, without fanfare, purchased Gateway Funding in Horsham, PA. More deals are in the works...Read More
Short Takes: Dead Silence on GSE Reform / EverBank Dumps More MSRs / Brian Libman’s Work History / The Ocwen Watch April 29, 2015 Paul Muolo and Thomas Ressler Nationstar will take title to $6.7 billion of Fannie Mae, Freddie Mac and private investor product owned by EverBank... Read More
Residential Production Rises Almost 10 Percent at Flagstar; Nice Gain-on-Sale Improvement April 28, 2015 Paul Muolo More than half of Flagstar's servicing portfolio consists of subservicing contracts.Read More
Mortgage Earnings at Home Street Rise Sharply, Expansion Continues April 28, 2015 Brandon Ivey HomeStreet funded $1.61 billion of new originations in the first quarter of 2015, a 21 percent improvement from the previous quarter.Read More
Short Takes: Strong Demand for Mortgage Chief Operating Officers? / Lenders Without Budgets are Less Profitable / Ocwen Turned Down a Good Bid / A CEMA Tale and BofA April 28, 2015 Paul Muolo Recruiter Rick Glass said the thirst to hire high-caliber mortgage COOs is coming from lenders that “want to move to the next level.”Read More
Banks Report Solid Gains in Mortgage Income in 1Q15 April 27, 2015 John Bancroft Many lenders reported the pleasant confluence of rising origination volume and stronger gain-on-sale margins.Read More
Why a Large Chunk of 9.3 Million Foreclosed Borrowers May Never Buy a Home Again April 27, 2015 Brandon Ivey Underwriting overlays established by lenders also will limit some potential borrowers from purchasing homes in the coming years. Read More
HUD Tells Servicers to Wait a Year on FHA Foreclosures April 27, 2015 George Brooks Mortgage servicers will be subject to stronger quarterly reporting requirements, including tougher penalties for non-compliance. Read More
Prestwick Selling Flow Servicing from the Mid-Atlantic April 27, 2015 Paul Muolo The bid deadline is May 12 and according to Prestwick, the seller wants to “start deliveries as soon as possible.”Read More
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