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Promontory MortgagePath Expands Private-Label Origination Platform

October 17, 2017
Paul Muolo
PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…
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Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization

October 17, 2017
Paul Muolo
With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...
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Redwood Aims for Jumbos Outside of Banks’ Focus

October 17, 2017
Brandon Ivey
Redwood’s Choice loan program allows for debt-to-income ratios of up to 49.9 percent while the limit for Select is 43.0 percent…
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Institutional Investors Reduce Positions in PHH. Meaning?

October 17, 2017
Paul Muolo
The disclosures aren’t entirely surprising given that PHH recently wrapped up a generous buyback offer…
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CFPB Eyeballing New Disclosures for Reverse Mortgages?

October 17, 2017
Thomas Ressler
In recent months, the consumer bureau has expressed concerns about the risks associated with reverse mortgages.
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Ranked No. 442 as an Originator, Fintech Firm Corrals $457 Million in Financial Commitments

October 17, 2017
Paul Muolo
Formed in 2014, LH originated $598 million in 2016, ranking 442nd overall, according to Home Mortgage Disclosure Act figures compiled by Inside Mortgage Finance.
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Ginnie Mae Issuance Topped $120B in 3Q17, the Best Reading of the Year

October 17, 2017
John Bancroft
Ginnie Mae issuers securitized $85.4 billion of purchase loans in the third quarter, falling just short of the record $85.4 billion set in the third quarter of last year.
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Ocwen Settles With Arkansas, DC, Tennessee; Hatchet Now Buried With 20 Jurisdictions

October 17, 2017
Thomas Ressler
Investors are still waiting for Ocwen’s biggest outstanding dispute – the one with the CFPB – to be settled, one way or the other.
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Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually

October 16, 2017
Paul Muolo
A large nonbank is about to enter the second-lien market...
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Citadel Receives Ratings from Morningstar; Look for a Nonprime MBS in January

October 16, 2017
Brandon Ivey
Morningstar said the company’s underwriting process, quality control and compliance functions were factors in the rankings…
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