Still Festering: the VA IRRRL ‘Orphan’ Loan Mess July 17, 2018 Paul Muolo “We want to get more bidders involved,” said MBA’s Pete Mills…Read More
Nonprime Mortgage Executive Calls Investor Demand ‘Unlimited’ July 17, 2018 Brandon Ivey Some Wall Street firms are now quietly extending repo lines to originators of non-QMs...Read More
Nationstar Reports 2Q18 Results: Income and Servicing Down, Originations Up July 17, 2018 Paul Muolo Nationstar said it continues to “evaluate significant servicing growth opportunities” and expects to end 2018 with at least $530 billion of MSRs...Read More
Despite a Slim Profit Margin, Redfin Hopes to Raise $239 Million by Selling Equity and Debt July 17, 2018 Paul Muolo The company released an estimate of earnings for the second quarter of 2018, forecasting a profit of $2.6 million to $3.2 million on revenues of about $142.1 million.Read More
Court Rules FHFA’s Structure Violates the Constitution. But Upholds Treasury Sweep July 17, 2018 Carisa Chappell The court said Congress encased the regulator in layers of insulation, which limits the president’s power to remove and replace the FHFA director... Read More
Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction July 16, 2018 Paul Muolo, John Bancroft, and Brandon Ivey Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...Read More
Trades Urge Congress to Extend NFIP. NAR Fears Lost Home Sales… July 16, 2018 George Brooks NAR fears a major loss in home sales...Read More
Phoenix Announces GSE Flow MSR Auction July 16, 2018 Paul Muolo The average loan size could be as high as $227,000…Read More
High DTIs and Other Concerns at FHA Give Way to Weekly ‘Triage’ Meetings July 16, 2018 Paul Muolo Among FHA loans endorsed in April and May, only 41.9 percent were at or below the benchmark DTI test for qualified mortgages, which is 43.0 percent.Read More
A 23 Percent Increase in Home Lending for Bank of America July 16, 2018 Paul Muolo Bank of America no longer breaks out mortgage income separately.Read More