Altisource Asset Posts Earnings Improvement, but Revenue Declines; Stock Clocked August 10, 2015 Paul Muolo In trading Monday, investors were not treating AAMC’s stock kindly. Read More
Short Takes: Will Other Nonbanks Follow loanDepot on HELOCs? / A Threat to the MI Industry? / Auction.com Updates Forecast / BofA and Its ‘Goodwill’ / Altisource Makes it Official on Willison August 10, 2015 Paul Muolo Will the industry see a flood of nonbanks into the second lien market?Read More
M&T in Talks With Feds Over GSE and FHA Underwriting Practices August 10, 2015 George Brooks The bank said it is cooperating with the two investigations, which could result in treble damages under The False Claims Act.Read More
Congress Expands Reporting for Mortgage Interest, Hopes to Net $180 Million Annually August 7, 2015 Brandon Ivey The brunt of the new revenue also looks as though it will be collected from mortgage borrowers.Read More
Shellpoint Plans to Reenter the Jumbo MBS Market Nearly Two Years After Planned Sale Was Scrapped August 7, 2015 Brandon Ivey The new jumbo deal from Shellpoint includes originations from New Penn along with contributions from 30 other lenders.Read More
CFPB Throws Down the Gauntlet on Marketing Service Agreements; Home Builders a Target? August 7, 2015 Paul Muolo Brian O’Reilly, president of The Collingwood Group, believes the CFPB is out of control with its regulatory crackdown...Read More
Mortgage Bankers and Brokers Continue to Hire, 1400 Positions Added August 7, 2015 Paul Muolo Servicing employment has been under pressure the past few years as loan processors such as Ocwen Financial, Nationstar Mortgage and others move to offshore as many back office workers as possible.Read More
What We’re Hearing: Is PHH the Next Ocwen? / A Marketing Service Agreement Problem? / Time to Buy Beat-Down Mortgage Stocks? / Another Tech Bubble? / BofA Selling NPLs and RPLs / Realtors Optimistic but Concerned Too August 7, 2015 Paul Muolo Meanwhile, PHH may be facing exposure on a front that investors had no clue about until recently: marketing service agreements...Read More
Short Takes: Stand by Your PHH / The New (Regulatory) Norm for the Mortgage Industry / MPF Jumbo a Dud? / Commercial Production on the Rise / A New Guardian for Guardian August 6, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo Is now a time to buy into PHH?Read More
The Fastest Growing Loan Types in 2Q: Jumbos and FHA/VA August 6, 2015 John Bancroft Over the winter, the VA program had quietly become a much more significant factor in the government-insured market...Read More