Short Takes: Bill Ashmore’s Next Move / Richard Pickup, the Largest Investor in Impac / Weaker Results for PennyMac, the REIT / A New Hire for MBA November 3, 2017 PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."Read More
After 22 Years as President of Impac, Bill Ashmore Calls it a Day November 3, 2017 Paul Muolo No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…Read More
What We’re Hearing: The Mortgage Cycle Turns / PE Firms Ready to Pounce? / Show Mr. Cooper the Door? / Impac in Play? / loanDepot Retail Chief David Norris Departs for Law Enforcement Project / More Nonprime MBS on the Way November 3, 2017 Paul Muolo Ocwen will not be sold through a stock deal, but Nationstar could be...Read More
Mortgage Banking Profits Declined Slightly for Banks in 3Q17 November 3, 2017 John Bancroft Meanwhile, the indicators point to a drop in production volume for the fourth quarter…Read More
Fannie Mae Reports Strong Earnings for 3Q17, but $1B in Hurricane-Related Charges; Large Exposure to ‘Maria’ November 2, 2017 Carisa Chappell and Paul Muolo Fannie Mae CEO Timothy Mayopoulos added: “Damage from the storms will be with us for a long time.”Read More
Minor Retreat for Top Tier Mortgage Servicers in 3Q17, Nonbanks Continue March Forward November 2, 2017 John Bancroft The only top-five servicer to report an increase in volume was Nationstar Mortgage...Read More
Fannie Mae Reports Strong Earnings for 3Q17; Hurricanes Hurt but RBS Settlement Helped November 2, 2017 Carisa Chappell and Paul Muolo Through the first nine months of the year, Fannie has posted impressive net earnings of $9.02 billion. Read More
Ocwen Takes $6.1 Million Loss in Third Quarter but Results Could Have Been Worse November 2, 2017 Brandon Ivey The loss would have been worse if not for a one-time tax benefit of $23.2 million…Read More
Nationstar Reports a $7 Million Profit for 3Q17. Smaller MSR Markdowns November 2, 2017 Paul Muolo Nationstar originated $4.25 billion of new home mortgages in 3Q17…Read More
Between Multiple Hurricanes and Wild Fires, a Market Develops for a New Breed of ‘Scratch & Dent’ Loans November 2, 2017 Paul Muolo According to bidders in the market, the early action focuses on loans that are “stuck” on warehouse lines.Read More
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