Surprise: loanDepot Chief Hsieh Steps Aside as CEO but Will Remain as Executive Chair April 26, 2022 Paul Muolo LoanDepot noted Martell “will drive daily operations and lead the company’s diversified multi-channel mortgage origination model"...Read More
Servicing Sales (Transfers) Slow in 1Q But Still at Heightened Levels April 25, 2022 John Bancroft The biggest decline in bulk transfers was in the Ginnie market, where volume plummeted 27.9%...Read More
Missing in Action: The Mortgage Industry’s Recommendations Regarding FHFA's Strategic Plan April 25, 2022 Dennis Hollier MBA expressed reservations about FHFA’s pursuit of examination authority over nonbank servicers, efforts to ensure a level playing field and more...Read More
Another Reduction-in-Force at Sprout Mortgage? April 22, 2022 Paul Muolo The brainchild of industry veteran Michael Strauss, Sprout is a top-10 ranked originator of non-QMs.Read More
Home Lenders Temporarily Drop Tax Transcript Requirement April 22, 2022 Brandon Ivey Among the lenders known to have suspended the underwriting requirement are PennyMac, AmeriHome and...Read More
A Nice Hike in MSR Values for 1Q22, JPM Especially... April 22, 2022 Paul Muolo JPM valued its $575.4 billion of TPO servicing at 127 bps at March 31, a mouth-watering increase of 19.8% from yearend...Read More
ABS Starts Strong in Early 2022, Driven by Key Sectors April 22, 2022 John Bancroft The two biggest asset classes in the ABS market – vehicles and business finance — accounted for most of the first-quarter surge.Read More
As Nonbanks Falter, Warehouse Giant Texas Capital Works to Diversify April 21, 2022 Brandon Ivey Previously, Texas Capital executives estimated the bank's mortgage finance volume would decline at a rate in the “high teens” this year, but now they're projecting a “mid-30%” decline.Read More
Private Mortgage Insurers Gain Share in Crumbling Agency Market April 21, 2022 John Bancroft The FHA saw a steep 21.1% decline in volume, while the VA posted an 18.4% decline from the fourth quarter...Read More
The Compensation Package for a CEO Whose Company Lost $1.3B in 4Q: $19.1 Million April 21, 2022 Paul Muolo FoA lost $1.34 billion in the fourth quarter after booking a large goodwill impairment...Read More