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Former BofA Mortgage Chief Art Ringwald Hopes to Raise $100 Million

September 24, 2013
Paul Muolo
Art Ringwald, who helped put Bank of America on the mortgage map before departing in 2001, is looking to do "roll-ups," among other things.
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Short Takes: So Far, Loan Officers Have Been Spared / Nationstar Raises More Money / DOJ About to Sue JPM? / 200,000 Consumer Complaints Filed with CFPB / FHA Updates Loss Mitigation Options / Wilbur Ross Cleans Up on Ocwen

September 24, 2013
Paul Muolo and George Brooks
Loan officers, so far, have been spared the layoff carnage, but that may change depending on where volumes wind up.
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Banks Continue to Shed Home Equity Loans

September 23, 2013
Brandon Ivey
Banking regulators believe delinquency rates on HELOCs soon may rise sharply upward as a significant number of second liens reach the end of their draw period.
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OMB Signs Off on FHA Draft QM Rule, But HUD Mum on Details

September 23, 2013
George Brooks
HUD declined to discuss the contents of the proposed standards or indicate a timetable for a final QM rule.
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Interactive Mortgage Advisors Selling $140 Million of MSRs

September 23, 2013
Paul Muolo
The secondary market for mortgage servicing rights continues to spit out new offerings, especially in the bulk arena.
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New Residential to Sell More Shares, Says $300B in MSRs Up for Auction Now

September 23, 2013
Paul Muolo
The firm estimates that upwards of $300 billion of MSRs are currently on the auction block with another $1 trillion to $2 trillion to come.
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Nationstar Gets $1 Billion Servicing Advance Facility

September 23, 2013
Paul Muolo
Nationstar's new filing with the Securities and Exchange Commission offers little in the way of information on the terms of the new $1 billion facility.
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Short Takes: Is PHH In Play? / The GSE Buyback Plague Isn’t Quite Over Yet / Jumbo Rates May Spike / Servicing Term Loan Coming / Government Shutdown Could Delay Lower GSE Loan Limits

September 23, 2013
Paul Muolo
PHH saw its share price spike late last week after rumors spread that it may sell a large block of mortgage servicing rights.
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Citi Latest Megabank to Cut Mortgage Jobs: 1,000 Get Pink Slips

September 23, 2013
Paul Muolo
Citi handed pink slips to 1,000 mortgage workers on Monday. It appears that some loan officers were let go.
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REITs Report Another Drop in MBS Holdings, But Their Short-Term Fortunes Improve

September 20, 2013
John Bancroft
Residential mortgage REITs held $327 billion of single-family MBS at the end of the second quarter, according to a new market analysis by Inside MBS & ABS.
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