Applications Drop by Double Digits; Suddenly, Some Nervousness on Rates February 18, 2015 Paul Muolo Warehouse lending executives interviewed by IMFnews the past week are reporting healthy usage rates from their nonbank clients...Read More
Ocwen Sees Favorable Movement in Battle with BlueMountain as HLSS Enters Agreement with Trustee February 18, 2015 Brandon Ivey Analysts believe BlueMountain’s play is to ultimately drive down Ocwen’s share price and clean up on its short positions.Read More
Short Takes: Would You Buy Ocwen Now? / MIAC Offering MSRs / Sindeo Secures Investment / Fannie Rolling Out New Version of DU / Clayton Hires Former Subprime Executive February 18, 2015 Brandon Ivey and Paul Muolo Ocwen’s massive servicing portfolio (roughly $377 billion in UPB) is worth more than the entire market capitalization rate of the company...Read More
Freedom Mortgage Close to Meeting Hiring Goal; May Hire Even More February 17, 2015 Paul Muolo Among originators, Freedom Mortgage ranks 10th. In 2014 it funded $23.63 billion, a 48 percent gain from the year prior.Read More
A $1.3 Trillion Year for Originations? February 17, 2015 Paul Muolo Compass Point hiked its purchase money estimate to $819 billion from $787 billion.Read More
Short Takes: Mortgage Lawyers Raking in the (Compliance) Dough / What’s With all the 13-Gs? / Ocwen’s Stock on a Tear. What? / Obama Gives a Shout-Out to Nationstar / A New Hire for Auction.com February 17, 2015 Brandon Ivey and Paul Muolo Ocwen’s share price has almost doubled! How’s that? Well...Read More
Correspondent Share of Agency MBS Reached 35 Percent in 2014 February 16, 2015 John Bancroft Broker-originated purchase mortgages pushed the envelope a little further, with an average credit score of 719.1 and an average DTI of 37.7. Read More
Highest Cash-Out Refi Share Since ’09 but Dollar Volume Drops February 16, 2015 John Bancroft From 2005 to 2007 homeowners converted an estimated $823 billion of home equity into swimming pools, cars, hospital bills and other uses. Of course, those days are long gone.Read More
The MSR Quandary: Sell Now or Wait? Flow Bids Remain Strong February 16, 2015 Paul Muolo With rates low on current production, prices are strong for “flow” transactions.Read More
FHFA’s Watt: I’m Not Presuming ‘Abuse’ By Captives That Want to be FHLB Members February 13, 2015 Paul Muolo Roughly 18 current members of the FHLBanks are affected by the proposed ban, seven of which are mortgage real estate investment trusts.Read More