Short Takes: Passing the (Stress) Test With Flying Colors / Why? / A Loss for Home Point / MSR Values / LD’s LO Count / Hiring: Fairway August 11, 2022 Dennis Hollier and Paul Muolo In the April-June period, Willie Newman’s shop sold some of its mortgage servicing rights, grossing $257.3 million on the transactions…Read More
A Brutal Quarter for loanDepot: A Large Loss, Layoffs, Wholesale Shuttered August 10, 2022 Paul Muolo The California-based lender/servicer went public at $14.00 a share in February 2021...Read More
Another Tough Quarter for Non-QM REIT Angel Oak. However... August 10, 2022 Brandon Ivey Despite the difficulties, AOM is increasing its warehouse financing capacity and working to acquire non-QMs with higher interest rates.Read More
The Key, Perhaps, to an FHA Premium Cut: The FCRA August 10, 2022 Monica Hogan FHA Commissioner Julia Gordon said, “Read the Federal Credit Reform Act.”Read More
Nonbanks Turn to Home-Equity Products, Other Alternatives August 10, 2022 Brandon Ivey Raymond James' MGD John Toohig said he received more calls about home-equity lines of credit in July than he had in his entire career.Read More
Short Takes: Better Troubles? / The SoftBank Question / A $750 Million Loan / Dumping SoFi Shares / #34 and Slipping August 10, 2022 Paul Muolo A large loan to Better.com from SoftBank is something to keep an eye on...Read More
Lower Profits for Nation's #3 Originator, UWM. MSRs Bolster Weaker Originations August 9, 2022 Brandon Ivey UWM's gain-on-sale margin totaled 99 basis points in the second quarter. Management estimates a GOS of 30 bps to 60 bps in 3Q22...Read More
Ginnie Issuance Falls to a 2022 Low in July August 9, 2022 Monica Hogan In July, PennyMac Financial Services led the pack with $4.5 billion of Ginnies issued...Read More
Fitch: 89% of Homes Are Overvalued, Cautions About the West August 9, 2022 Paul Muolo In particular, Fitch sees the housing picture worsening in the west during the second half of 2022.Read More
HUD Explores Expanding CDFI Access to Ginnie Mae August 9, 2022 Monica Hogan The task force is looking at administrative actions it can take to boost CDFI participation in the Ginnie Mae program...Read More
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