Big Decline in Subservicing Contracts at BofA, Ocwen, Nationstar January 5, 2015 Paul Muolo BofA has been a steady seller of mortgage servicing rights the past three years and seems to have no interest in being a subservicer.Read More
Yet More Mortgage Charges for SunTrust, This Time for $145 Million January 5, 2015 Brandon Ivey SunTrust wouldn’t comment on the charge other than to note that the issue has been previously disclosed.Read More
Golden First Owner Banned from Government-Related Mortgage Business January 5, 2015 George Brooks In addition to the $36 million judgment against Golden First, Movtady was ordered to pay a $300,000 penalty within six months.Read More
Servicing Market Heats Up Early: A $4.2 Billion MSR Portfolio from MVSG January 5, 2015 Paul Muolo MountainView did not identify the company selling the servicing rights except to say it is a “well capitalized servicer.”Read More
Short Takes: Obama Again on GSE Reform / Newly Minted MBAs Hate Mortgages? / Guild Goes HLTV / An ATR for Payday Loans? / John Adams Settles FHA Charges January 5, 2015 Paul Muolo and Brandon Ivey Are recent graduates of business schools avoiding the mortgage industry?Read More
What We’re Hearing: The Top Mortgage Stories of 2014: A Kinder, Gentler FHFA; The Ocwen Disaster; Nonbanks (Except for Ocwen) Continue to Thrive; The End of QE; A Mortgage M&A Boom in Miniature; The FHA MMIF Returns to the Black… January 2, 2015 Who knows, maybe Mel Watt will allow Fannie and Freddie to build retained earnings. (Don’t bet on it, but it’s an issue worth debating.)Read More
Short Takes: PHH May Unveil Renegotiated Private-Label Deals Soon / LOs are Hot, Mortgage Executives Are Not? / NPL Sales Weak of Late? / Large Wholesaler Enters 3% Down Market / Pingora Rocks in MSRs December 31, 2014 Paul Muolo According to Rick Roque, who heads MenloGlobal, “for the most part, executive level opportunities are stagnant, unless production comes with it."Read More
Are Fannie and Freddie Lobbying Again? In Subtle Ways? December 30, 2014 Ed Roberts Rep. Scott Garrett, R-NJ, is concerned that Fannie and Freddie have resumed lobbying, at least in subtle ways.Read More
Outlook for First Quarter 2015 Mortgage Profits: Stable December 30, 2014 Brandon Ivey The share of lenders reporting a decreased profit margin outlook over the next three months appears to have remained relatively stable.Read More
Credit Reporting Agency Complaints to the CFPB Up 100 Percent YOY, But… December 30, 2014 Thomas Ressler The category of “incorrect information” continues to make up the lion’s share of the complaints, ICFPB found.Read More
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