Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official September 1, 2016 Paul Muolo Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...Read More
Steady as She Goes in Subservicing Market. Cenlar Continues to Dominate August 31, 2016 Paul Muolo Certain subservicers, including Nationstar Mortgage, continue to solicit others to shift their servicing chores over to them…Read More
Some Lenders Expect to Set New Production Records in August August 31, 2016 Paul Muolo One originator described August’s activity as “busy, crazy busy…”Read More
The Six-Month Tally: FHA Production Up 8.4 Percent, VA by Almost 13 Percent August 30, 2016 George Brooks It was the highest three-month total for government-insured lending on record, although private mortgage insurance did more business in the second quarter than either FHA or VA…Read More
Subservicer Statebridge Nearly Doubles Contracts to $2.60 Billion August 30, 2016 Brandon Ivey FrontRange Capital first invested in Statebridge back in 2013. The money allowed the subservicer to buy out its then-owner, Integrated Asset Services.Read More
Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort August 30, 2016 Paul Muolo While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.Read More
MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent August 30, 2016 Paul Muolo The results should surprise few: big gains on production, losses on servicing…Read More
Short Takes: Bank Says ‘We’re a Subprime Lender Too’ / No Ties to BofA / And the Big Three of Nonprime Lending Are… / REIT Exits NPL Market / Former MGIC Chief Lacy Dead at 71 August 30, 2016 Paul Muolo The largest nonprime (non-QM) lenders are likely (in no certain order): Citadel Loan Servicing, Deephaven Mortgage and Angel Oak...Read More
Should Residential Loan Officers Worry About Their Jobs and Automation? August 26, 2016 Paul Muolo Depending on where they work, mortgage loan officers can earn anywhere from 20 to 100 basis points per loan.Read More
Mortgage Securitization Rate Drifts Slightly Lower in 2Q16, Remains Well Below Post-Crash High August 26, 2016 John Bancroft Fannie Mae and Freddie Mac are seeing some competition for eligible mortgages from portfolio lenders… Read More
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