A Steep 1Q18 Decline in Residential Production for BofA April 16, 2018 Paul Muolo BofA also produced $3.75 billion of home equity loans in the first quarter...Read More
Pershing Square Doubles Down on its GSE Bets April 16, 2018 Paul Muolo In the 2017 annual report, Pershing Square lists Fannie and Freddie common among its “losers…” Read More
Early 2018 Brings More Volatility to GSE Single-Family Rivalry April 16, 2018 John Bancroft In early 2018 both GSEs were under orders from the Federal Housing Finance Agency to set g-fees that meet a “minimum return on equity…”Read More
Stearns Holdings Wants to Retire $80 Million Worth of High-Yielding Paper April 16, 2018 Paul Muolo Finance of America’s new president is industry veteran Bill Dallas.Read More
Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least) April 13, 2018 Paul Muolo MB Financial plans to keep originating home loans in the greater Chicago area and will keep its mortgage servicing platform intact.Read More
JPM’s Origination Machine Tanked in 1Q18 April 13, 2018 Paul Muolo Despite the drop, JPM marked up the asset value of its mortgage servicing portfolio...Read More
A 19 Percent Drop in Residential Lending at Wells Fargo; Megabank Says Regulators Want $1B to Settle Auto and Mortgage RLC Charges April 13, 2018 Paul Muolo Wells said the CFPB and OCC have asked the megabank for a $1 billion settlement in the matter.Read More
What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows April 13, 2018 George Brooks and Paul Muolo Now comes the big question: How many more MB Financials are out there? Read More
Wedbush Takes an Ugly View on Mortgages, Says Direct Lenders will be the Biggest Losers This Year April 12, 2018 Paul Muolo On the plus side, Wedbush sees mortgage servicers and home builders benefitting…Read More
A Defiant Mick Mulvaney Tells Democrats: ‘I Haven’t Burnt the Place Down’ April 12, 2018 Yemeng Yang Rep. Maxine Waters, D-CA, the ranking member of the panel, would not acknowledge that Mulvaney is the head of the agency but asked him questions anyway.Read More
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