HECM Production Stumbles a Bit in 2016 March 22, 2017 George Brooks Among the top 10 originators in 2016, Reverse Mortgage Solutions posted the largest annual decline at 64.5 percent. RMS is owned by Walter Investment…Read More
Finance of America Commercial Makes Big Push Into Broker Market with ‘Fix & Flip’ Lending March 22, 2017 Paul Muolo CEO Mark Filler said FoAC is now offering fix-and-flip loans as cheaply as 6.99 percent…Read More
Wall Streeter Phillips to Play ‘Critical’ Role at Treasury on GSE Reform; GSE ‘Principles’ Coming Soon from Trump? March 22, 2017 Paul Muolo Calabria joined the Trump administration from the conservative Cato Institute and is no fan of the GSEs...Read More
Short Takes: Reading the Mortgage Tea Leaves for 1Q17 / When in Doubt, Go Non-QM / Impac by the Numbers / Applications Fall, Existing Homes Sales Drop as Well March 22, 2017 Brandon Ivey and Paul Muolo Don’t look now but the yield on the benchmark 10-year Treasury is now down to 2.40 percent. And just in time for the spring home buying season…Read More
Still Rising: Retail Channel Accounts for 81.6 Percent of Jumbo Originations March 21, 2017 Brandon Ivey Roughly $72.09 billion of jumbo mortgages were originated in the fourth quarter, down 3.4 percent on a sequential basis.Read More
Subservicing Sector Starting to Look Crowded As More Firms Choose ‘Capital Light’ Strategy March 21, 2017 Paul Muolo The nation’s three largest residential subservicing firms are: Cenlar, Dovenmuehle and Loan Care. All are nonbanks.Read More
MBA: Net Origination Profit Plunged 68 Percent in 4Q16 March 21, 2017 Paul Muolo MBA noted that including all business lines, 73 percent of the mortgage companies posted pre-tax profits for the fourth quarter, down from 94 percent in 3Q16…Read More
USDA Securitization Rose in 2016; Chase Led the Sector, but… March 21, 2017 George Brooks Although JPMorgan/Chase was the market leader, it is now mostly out of the sector…Read More
IMF Poll: Lenders Will Liberalize Underwriting Standards – but Not by Much March 21, 2017 Paul Muolo Some 14 percent of respondents said they might begin making non-qualified mortgages over the coming months.Read More
Short Takes: Coming Soon: Falling Interest Rates? / Walter Gets Smacked Down Again / Embrace Sends its Top LOs to Boca / CoreLogic’s $5 Million Man (Rounded) / A New Hire for Silver Hill March 21, 2017 Paul Muolo All totaled, the new CoreLogic chief could earn almost $5 million...Read More
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