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Government Mortgage Insurance Programs Make a Run on Private MIs; The FHA Premium Cut a Factor?

May 14, 2015
John Bancroft
Although the FHA has been losing ground for several years to the private MIs, the program saw a surge in refis in March...
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A Frothy Mortgage Employment Market: Signing Bonuses for Underwriters and Processors?

May 13, 2015
Paul Muolo
Financial consultant Paul Hindman, however, is concerned about such bonuses...
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Preparedness is Crucial to Surviving a CFPB Audit

May 13, 2015
George Brooks
A CFPB lending exam can take up to six months to complete and can be quite expensive over time...
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Nonprime Lender Citadel Now Has Almost 1,400 Approved Brokers

May 13, 2015
Paul Muolo
CEO Dan Perl noted that the lender will surpass $30 million of fundings in May, a record for the company.
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Five Oaks Takes Loss in 1Q from Jumbo MBS Activities, Interest Rate Hedges

May 12, 2015
Brandon Ivey
Five Oaks' management noted that the REIT has better control of its jumbo MBS exposure since the company issued its own security in April.
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Short Takes: Former FHA Chief Stands With Quicken / No FCA for Stevens / Cherry Hill Posts Small Loss / Nomura Loses / Biweekly Provider in CFPB Crosshairs / Milestone for DocMagic

May 12, 2015
Carisa Chappell, Brandon Ivey, Paul Muolo, and Thomas Ressler
Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”
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Nonbank Mortgage Firms Report Group Profit for 1Q but Lag Depositories

May 11, 2015
John Bancroft
The eight nonbanks – including the top publicly traded firms that rank high in originations, servicing or both – posted a combined $40.5 million in mortgage-banking income during the first quarter.
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loanDepot Plans to Hire 1,000 New Employees, Including Loan Officers

May 11, 2015
Paul Muolo
Last year loanDepot bought Mortgage Master, Walpole, MA, one of the largest home lenders in New England.
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Independent Lenders Sidle Up to the VA Origination Trough

May 11, 2015
John Bancroft
VA originations by state-licensed lenders rose 14.5 percent from 2013 to 2014.
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Short Takes: Fidelity Set to ‘Spin Off’ Black Knight via an IPO / A Flow Chart is Required / Lots of Spin-Offs / Remember HomeSide Lending? / Shrinking Loss Reserves at the GSEs / Auction.com’s New Hire

May 11, 2015
Carisa Chappell and Paul Muolo
Fidelity, a market leader in title insurance, has a market capitalization rate of $10.6 billion and is headed by William Foley, age 70, who has a history of spinning off companies.
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