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Pacific Union Financial Consolidates Wholesale Units, Some Layoffs Ensue

October 29, 2014
Paul Muolo
Roughly a month ago, ClearVision founder Jon Maddox announced his retirement to Pacific Union senior management.
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Guild Mortgage Isn’t Done Buying Other Lenders

October 29, 2014
Paul Muolo
Guild's McGarry also said the company will not be closing on any more transactions in 2014.
Read More

Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle

October 29, 2014
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…
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What’s Going On? Consumers Are Complaining a Lot Less About Mortgages

October 28, 2014
Thomas Ressler
Total mortgage complaints have been trending downward since they peaked at 15,239 in the first quarter of 2013.
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Quick Turn-Time on Latest Jumbo MBS from Two Harbors

October 28, 2014
Brandon Ivey
DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.
Read More

Warehouse Lenders See an Increase in Outstandings; Credit for Non-QM Loans?

October 28, 2014
Paul Muolo
Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.
Read More

Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual?

October 28, 2014
Paul Muolo and George Brooks
Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...
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MBS Investments by Credit Unions on the Wane

October 27, 2014
With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.
Read More

HUD to Let Property-Flipping Waiver Lapse

October 27, 2014
George Brooks
HUD believes the program’s initial objectives have been attained and that prudence and vigilance are again called for to prevent abuses.
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Fannie Shareholders (Pre-Conservatorship) will Reap $170 Million from Settlement

October 27, 2014
Charles Wisniowski
The investor-plaintiffs claim that Fannie and two of the company’s former executives made false and misleading statements about the mortgage giant’s internal controls and its exposure to subprime.
Read More
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