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CFPB Throws Down the Gauntlet on Marketing Service Agreements; Home Builders a Target?

August 7, 2015
Paul Muolo
Brian O’Reilly, president of The Collingwood Group, believes the CFPB is out of control with its regulatory crackdown...
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Mortgage Bankers and Brokers Continue to Hire, 1400 Positions Added

August 7, 2015
Paul Muolo
Servicing employment has been under pressure the past few years as loan processors such as Ocwen Financial, Nationstar Mortgage and others move to offshore as many back office workers as possible.
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What We’re Hearing: Is PHH the Next Ocwen? / A Marketing Service Agreement Problem? / Time to Buy Beat-Down Mortgage Stocks? / Another Tech Bubble? / BofA Selling NPLs and RPLs / Realtors Optimistic but Concerned Too

August 7, 2015
Paul Muolo
Meanwhile, PHH may be facing exposure on a front that investors had no clue about until recently: marketing service agreements...
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Short Takes: Stand by Your PHH / The New (Regulatory) Norm for the Mortgage Industry / MPF Jumbo a Dud? / Commercial Production on the Rise / A New Guardian for Guardian

August 6, 2015
Brandon Ivey, Paul Muolo, and Sherry Muolo
Is now a time to buy into PHH?
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The Fastest Growing Loan Types in 2Q: Jumbos and FHA/VA

August 6, 2015
John Bancroft
Over the winter, the VA program had quietly become a much more significant factor in the government-insured market...
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Redwood Cuts Forecast for Mortgage Acquisitions Due to Competition

August 6, 2015
Brandon Ivey
Redwood executives said competition has cut into margins, prompting the reduction in its forecast.
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Fannie Mae Posts Net Profit of $4.6 Billion; CEO Predicts Less Credit Overlays

August 6, 2015
Carisa Chappell and Paul Muolo
Thanks to second quarter profits posted by Fannie Mae and Freddie Mac, the Treasury Department will be richer by $8.3 billion...
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AIG Secures Indemnity Reinsurance for $300 Million MI-Backed Bond

August 6, 2015
George Brooks
The AIG transaction, which would transfer risk from UGI to investors, resembles previous bond deals executed by Radian and MGIC.
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PHH Posts $62 Million Loss; Stock in a Free Fall; PLS Client Walks

August 6, 2015
Paul Muolo
PHH would not name the private label client that did not renew.
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A Tale of Two Mortgage M&A Deals: Blackstone Buys PMAC; RoundPoint Off the Auction Block?

August 6, 2015
The Blackstone Group this week finally completed its purchase of all or parts of PMAC Lending, a California-based lender that will help the investment banking firm establish itself in the red-hot West Coast mortgage market. Although the publicly traded Blackstone has maintained a cone of silence regarding its talks with PMAC, employees of the Chino Hills lender began reporting the news themselves through various social media outlets, including Facebook. At least two other nonbank lenders are in talks with Blackstone, one in California and one in Pennsylvania. A spokeswoman for Blackstone declined...
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