Short Takes: PHH May Unveil Renegotiated Private-Label Deals Soon / LOs are Hot, Mortgage Executives Are Not? / NPL Sales Weak of Late? / Large Wholesaler Enters 3% Down Market / Pingora Rocks in MSRs December 31, 2014 Paul Muolo According to Rick Roque, who heads MenloGlobal, “for the most part, executive level opportunities are stagnant, unless production comes with it."Read More
Outlook for First Quarter 2015 Mortgage Profits: Stable December 30, 2014 Brandon Ivey The share of lenders reporting a decreased profit margin outlook over the next three months appears to have remained relatively stable.Read More
Are Fannie and Freddie Lobbying Again? In Subtle Ways? December 30, 2014 Ed Roberts Rep. Scott Garrett, R-NJ, is concerned that Fannie and Freddie have resumed lobbying, at least in subtle ways.Read More
Mortgage Loan Officers Continue to be in Demand December 30, 2014 Paul Muolo and Sherry Muolo The general consensus among those interviewed is that nonbanks will be more aggressive in their recruiting than depositories.Read More
More Firms Angle for Whole-Loan Trading December 30, 2014 Thomas Ressler FIG Partners will now buy or sell performing and non-performing residential mortgages and much more.Read More
Worry Wall: GSE Buybacks Tied to 2013 Production on the Rise December 30, 2014 John Bancroft The 2013 GSE book of business is getting a lot more attention from Fannie Mae and Freddie Mac.Read More
In 2015, JPM Will Hire Mortgage Workers, Wells Mum December 30, 2014 Paul Muolo and Sherry Muolo According to figures compiled by Inside Mortgage Finance, Wells Fargo was the nation’s largest home lender in the third quarter with $49.95 billion. JPM was a distant second.Read More
Short Takes: PennyMac Gets Hike on Repo Line / More on Ocwen’s Erbey / Rep. Royce Will Try to Stop the GSE Housing Trust Fund Contributions / What the New VA Loan Limits Mean December 30, 2014 Paul Muolo and George Brooks A spokesman for Royce recently told IMFnews that the Congressman will look “to get something through the 114th Congress to put a stop to this…”Read More
Reintroduction of 97 Percent LTV GSE Loans a Big Ho-Hum? December 30, 2014 Paul Muolo Okay, so maybe the reintroduction of 97 percent LTV loans is not a game-changer...Read More
Lenders Largely Happy with Proposed Rule on Flood Insurance December 30, 2014 Brandon Ivey The CMC believes that servicers should not be required to verify flood insurance coverage on existing loans when the escrow option becomes effective. Read More