Walter Inks Deal to Sell Insurance Unit to Assurant Sub for $125 Million in Cash January 4, 2017 Paul Muolo Walter CEO Tony Renzi said the sale of the insurance affiliate will “reduce the complexity of our business operations..."Read More
CFPB Slams TransUnion on Claims About VantageScore, Notes Most Lenders Don’t Use it for Credit Decisions January 4, 2017 Brandon Ivey For years, TransUnion has worked to get mortgage lenders and the GSEs to adopt VantageScore, a move that is still under consideration, according to the Federal Housing Finance Agency.Read More
HECM Volume Down 10.5 Percent YoY; HECM MMIF Value at Negative $7.7 Billion January 4, 2017 George Brooks Through the first nine months of 2016 the HECM volume leaders were American Advisors Group, One Reverse Mortgage and Reverse Mortgage Funding.Read More
Nonprime Lender Citadel Now Actively Hiring Retail LOs; Ends Year with Just Over $500 Million in Originations January 4, 2017 Paul Muolo Citadel now has offices in California, Georgia, Oregon and plans to open an underwriting and transaction location in Salt Lake City soon.Read More
Short Takes: Dr. Carson to Meet the Senate / Next: Steve Mnuchin / New OneWest Allegations a Problem? Probably Not / Redwood Readies its First Jumbo MBS of the Year January 4, 2017 Brandon Ivey and Paul Muolo Will the leaked memo lead to confirmation problems for Mnuchin, a Goldman Sachs and Wall Street alumni? Probably not...Read More
ARM Originations – A Force to be Reckoned With? JPM the Market Leader January 3, 2017 Brandon Ivey The nation’s top three ARM producers are: JPMorgan Chase, Wells Fargo and Bank of America…Read More
New HUD Rules: Housing Counselor Certification a Must January 3, 2017 George Brooks The agency said 108,875 homeowners avoided foreclosure after seeking assistance from a HUD housing counselor.Read More
A Small Club: Nonbank Mortgage Firms (or Their Owners) That Have Purchased Depositories January 3, 2017 Paul Muolo Consultant Joe Garrett notes: “It’s a very small club of mortgage bankers who’ve bought banks…”Read More
A Done Deal: Arch Completes Purchase of No. 1 Ranked MI, United Guaranty January 3, 2017 Paul Muolo With the purchase now complete, there are just six MI firms in the U.S.Read More
Floodwaters of Negative Equity Continue to Recede January 3, 2017 Thomas Ressler When the housing recession was in its early years, negative equity was most pronounced in a handful of Southwestern and Southeastern markets... Read More