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Wells Fargo Moves Forward in False Claims Case Filed by the HUD IG

July 24, 2015
George Brooks
Wells has denied the allegations and maintains that, as a direct endorsement lender, it has complied with FHA requirements.
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What We’re Hearing: CALCAP Working on $100 Million Fund for Non-Agency / The Changing Nature of ‘Fix and Flip’ / Altisource Lures Away Ginnie’s Man on the Hill / Not So Fast on Those GSE Raises / Improving Delinquencies Kill Another Business

July 24, 2015
Paul Muolo
Serious money continues to plow into non-agency mortgage lending. Meanwhile, Altisource hires Ginnie Mae's man on the hill...
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Surprise: Loan Production Climbs to $445 Billion in 2Q, Best in Nearly Two Years

July 23, 2015
John Bancroft
Most mortgage origination indicators pointed higher. Notably, FHA endorsements were up an estimated 61.3 percent from the first quarter…
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As FHFA Dawdles Over Captive Rule, REITs Ramp up Borrowings

July 23, 2015
Paul Muolo
Another REIT ramping up advances is Two Harbors Investment Corp., which – like Redwood – is active in the jumbo MBS market.
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Altisource Posts Strong Earnings, but Revenue Off; A New Contract with a Top-10 Bank

July 23, 2015
Paul Muolo
In a statement, company CEO William Shepro said of new clients: “…our sales pipeline is strong and we are in varying stages of discussions with larger prospects.”
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MBA Feeling More Bullish on Purchase Lending; The Millennial Effect?

July 23, 2015
Sherry Muolo
The trade group also is seeing an increase in mortgage "pull-through" rates.
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Top-Ranked Warehouse Lender Texas Capital Launches Correspondent Effort

July 23, 2015
Paul Muolo
One competitor to TCB said he is aware of the correspondent launch, but said “So far, they haven’t gotten any traction with our customer base.”
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Short Takes: Kill Fannie and Freddie? What, Are You Crazy? / Yet Another Book About the GSEs / The Enron-Fannie Mae Connection / Plaza Home Posts Record Originations / Two in 40. Who Are They?

July 23, 2015
Paul Muolo and Sherry Muolo
Of the 40, just two firms suffered a sequential volume decline. You’ll have to see IMF to find out which ones.
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M&A Roundup: More MSR Deals Hit the Market; Sale Of RoundPoint Mortgage Uncertain; Deal or No Deal?

July 23, 2015
Several large servicing portfolios of $1 billion or more hit the market in the past few weeks, but dealmakers and investors continue to wonder about the largest prize of them all: RoundPoint Mortgage, Charlotte, NC, which owns roughly $52.18 billion of receivables and ranks among the top 25. Investment banking officials who claim to have knowledge of the RoundPoint situation maintain that its owner, The Tavistock Group, is hell-bent on selling the nonbank, but as far as coming to final terms with a buyer, any buyer, that’s a different matter. It’s...
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The Mortgage IPO Market is Dead – For Now

July 22, 2015
Paul Muolo
Some consultants and analysts would add Stonegate Mortgage to the list of negatives weighing on the mortgage equities market.
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