PHH Continues to Sell Servicing Rights Ahead of Sale to Ocwen August 7, 2018 Paul Muolo In its earnings statement, PHH notes that Ocwen can terminate the acquisition if “available cash on hand falls below a prescribed amount…”Read More
Short Takes: R-E-S-P-E-C-T is What loanDepot CEO has for Zillow / Houlihan Lokey Advised Zillow / Shellpoint Shines / MBA Likes the Sandbox / A Handful of Promotions at PRM August 7, 2018 Paul Muolo and Yemeng Yang Anthony Hsieh of loanDepot: “Relax everyone. Competition is good." Read More
Secondary Market in Servicing Rights Gained Momentum in 2Q18 August 6, 2018 John Bancroft In 2Q18, there was a huge increase in bulk Fannie MSR transfers…Read More
Starwood Preps its First Non-QM MBS Deal. Impac a Major Provider of Collateral August 6, 2018 Brandon Ivey Starwood is now directly sourcing loans from Impac and hasn’t tapped any other originators.Read More
Treasury Gives Blessing to GSE Appraisal Waivers, More. But Moody’s Worries About AVMs August 6, 2018 Carisa Chappell The Treasury report acknowledges concerns from the appraisal industry but touts the benefits of using the waivers…Read More
Wells Fargo Says It’s ‘Very Sorry’ About Calculation Error that Led to Foreclosures August 6, 2018 Paul Muolo Wells Fargo: “As a result of this error, approximately 625 customers were incorrectly denied a loan modification..." Read More
Short Takes: Moving up the Search? / FHFA Watchdog Under Investigation? / No One is Commenting – or Denying / Politically Motivated? / Mangiaracina Gets Chairman’s Slot August 6, 2018 Paul Muolo and Carisa Chappell As of Monday morning, none of the parties involved – FHFA, the FHFA IG, and the Council – were commenting to IMFnews. Nor were they denying the existence of an investigation. Read More
Agency MBS Business Lays an Egg in July. Refis Set New Cyclical Lows August 3, 2018 John Bancroft The fundamentals just weren’t there...Read More
PennyMac Boosts Profit, Originations, Servicing – and Unveils Corporate Reorganization August 3, 2018 Brandon Ivey The lender/servicer also unveiled plans for a corporate reorganization that could triple the firm’s market capitalization rate…Read More
What We’re Hearing: Fannie Mae’s Next CEO Might Be… / Thanks Congress / Amazon Still in the Hunt? / The Top Gainer: Fairway Independent Mortgage / Talking to Ed DeMarco / Gateway Gets a New CEO August 3, 2018 Paul Muolo No wonder why Fannie and Freddie topped Business Insider’s list of the most profitable companies per employee…Read More
RSS