An Early Look at 2Q17 Production: A Mixed Bag at the Mega Banks; Nonbanks like UWM are Bullish July 19, 2017 Paul Muolo “Last year we did about $23 billion in originations and this year I expect us to hit between $27 billion and $30 billion,” said UWM CEO Mat Ishbia.Read More
2Q17 Results: A 10 Percent Gain in Originations for U.S. Bancorp July 19, 2017 Paul Muolo The bank’s servicing portfolio remained just about flat at June 30, coming in at $232.4 billion...Read More
Utah-Based Nonbank Buys Industry Vet’s First Mortgage of Oklahoma July 19, 2017 Paul Muolo A press statement on the sale included no production or servicing information for either company…Read More
Mortgage Applications Heat Up for the Week July 19, 2017 Sherry Muolo Applications are heading northward again...Read More
Short Takes: A Bulk MSR Deal from MountainView / Proposed HUD Lender Fee Is Cut From Spending Measure / Invictus Readies Nonprime MBS Deal / A Promotion at loanDepot July 19, 2017 George Brooks, Brandon Ivey, and Paul Muolo Another nonprime MBS deal is ready to hit the market, this one from Invictus Capital Partners...Read More
Ginnie Mae Continues to Lead the Pack in Agency Servicing Growth July 19, 2017 John Bancroft Outstanding MBS servicing at Fannie actually declined slightly in the second quarter… Read More
Residential Production at BofA Rises 16 Percent; MSR Balances Continue to Fall July 18, 2017 Paul Muolo Compared to the same period a year ago, servicing balances have fallen by 19.5 percent.Read More
Walter’s Warehouse Lenders Show Patience – but for How Long? July 18, 2017 Paul Muolo In late May, Walter disclosed in an SEC filing that some of its previously issued financial statements could not be relied upon because of what it called an “accounting error.”Read More
Short Takes: EverBank CEO Now the Head of LenderLive / Strong Volumes at Skyline / Refi Shops Hurting / Walter Files Layoff Notice on Irving Office / loanDepot Snatches Top LO from Guaranteed Rate July 18, 2017 Paul Muolo Walter Investment filed a WARN notice with the Texas Workforce Commission, saying it will close its Irving, TX, office and cut 437 workers...Read More
Bank Mortgage Repurchases Trend Lower July 18, 2017 John Bancroft Bank of America once again reported the biggest volume of residential loan repurchases: $421 million…Read More