A Few Months After Launch, Non-QM Correspondent Effort Shuttered August 12, 2022 Paul Muolo Another non-QM lender has fallen...Read More
Impac’s Originations and Profit Margins Plummet in 2Q22 August 12, 2022 Brandon Ivey The lender's gain-on-sale margin plunged to just 14 basis points in the April-June period from 124 bps in 1Q22.Read More
Grapevine: Battle of the Mortgage Titans / Better August 11, 2022 Paul Muolo UWM outearned Rocket in the second quarter, but mortgage banking is a nine-inning game. Meanwhile, not only is Better.com struggling, so is its chief benefactor, SoftBank.Read More
Private Mortgage Insurance Share Rises Above 50% Mark in 2Q August 11, 2022 John Bancroft The six active private mortgage insurers provided coverage on $120.92 billion of new originations in 2Q22...Read More
UWM’s Ishbia Throws Down the Gauntlet: ‘We Control the Margins’ August 11, 2022 Brandon Ivey When it comes to GOS, UWM's Mat Ishbia says he's running the table...Read More
LoanDepot Discloses Warehouse Waivers, Raises the Specter of Reorganization August 11, 2022 Paul Muolo The company, ranked seventh by Inside Mortgage Finance, is not alone when it comes to warehouse waivers being granted.Read More
FHFA: Servicers Must Maintain Fair Housing Data August 11, 2022 Dennis Hollier Fannie/Freddie servicers must collect age, race, ethnicity and language preference data from borrowers.Read More
Short Takes: Passing the (Stress) Test With Flying Colors / Why? / A Loss for Home Point / MSR Values / LD’s LO Count / Hiring: Fairway August 11, 2022 Dennis Hollier and Paul Muolo In the April-June period, Willie Newman’s shop sold some of its mortgage servicing rights, grossing $257.3 million on the transactions…Read More
A Brutal Quarter for loanDepot: A Large Loss, Layoffs, Wholesale Shuttered August 10, 2022 Paul Muolo The California-based lender/servicer went public at $14.00 a share in February 2021...Read More
Another Tough Quarter for Non-QM REIT Angel Oak. However... August 10, 2022 Brandon Ivey Despite the difficulties, AOM is increasing its warehouse financing capacity and working to acquire non-QMs with higher interest rates.Read More