New Player in Servicing Sales MorVest Capital Hires National Sales Director March 14, 2016 Paul Muolo MorVest has represented only sellers of mortgage servicing rights, but that may change... Read More
Rising Share Price Effects Nationstar’s Stock Repurchase Program March 14, 2016 Paul Muolo When the nonbank first unveiled the stock buy-back program, its shares were trading at $8.61.Read More
Short Takes: The Moving of a Subservicing Contract / GOS on the Rise in 1Q16 / Don’t Worry About Oil Prices and Mortgage Losses / CFPB Considers Rural Definitions / Altisource Gains Two Large Bank Clients March 14, 2016 Brandon Ivey and Paul Muolo Good news for mortgage bankers: gain-on-sale profit margins are on the rise.Read More
Banks Continue Their Retreat from Non-Mortgage ABS March 11, 2016 John Bancroft The supply of outstanding ABS itself fell slightly in the fourth quarter, down 2.3 percent to $704.91 billion...Read More
The Biggest Problem with Reviving the Non-Agency Market: Lack of Demand March 11, 2016 Brandon Ivey Matthew Tomiak, a managing director at Redwood Trust, said investors occasionally request that Redwood issue publicly-registered jumbo MBS.Read More
WinWater Unit Ready to Hit the Auction Block? March 11, 2016 Brandon Ivey Neil Ahuja, CEO of Premium Point, said the firm is keeping its options open. Read More
Super Clean MSR Offerings From IMA; $3.69 Billion of Product Up for Grabs March 11, 2016 Paul Muolo The Freddie portfolio includes loans from all 50 states with California receivables having the largest market share at 18.6 percent.Read More
What We’re Hearing: Might a PIMCO ‘Fund’ Buy PHH? / Citadel Advisors Slashes Stake in PHH / BofA Dodged a Bullet / Ocwen Has Enough Capital for Now / Finally, a TRID ‘Legal Fix’? / The Next President of MBA Could be a Woman March 11, 2016 Paul Muolo Mortgage M&A historians might recall that last decade, before the financial crisis struck, Countrywide Financial Corp. was in serious talks to buy PHH’s mortgage business...Read More
CFPB Chief Cordray Defends Enforcement Approach March 10, 2016 Thomas Ressler “I think that criticism is badly misplaced,” said CFPB Director Richard Cordray during a speech before the Consumer Bankers Association in Phoenix.Read More
Despite Slump in ‘Conforming-Jumbo’ Market, Big-Ticket Mortgages Fared Well in Late 2015 March 9, 2016 John Bancroft Refinance activity was heavy in the first half of 2015, and jumbo borrowers typically have more to gain by pulling the refi trigger. Read More