What We’re Hearing: Making Lemons out of Lemonade / Mortgage Brokers Trim Staff / A RIF at Movement Mortgage / The FHFA-OCC Connection / Conventional Lenders Eyeing the Non-QM Market? / A Tech Firm Looked at NSM June 1, 2018 Paul Muolo Although some conventional lenders are struggling with lower volumes, Angel Oak and Citadel Servicing Corp. are humming along...Read More
Surprise: Citizens (a Bank) Agrees to Buy 19th Largest Originator FAMC for $511 Million May 31, 2018 Paul Muolo A commercial bank buying a large mortgage company? Yes, indeed...Read More
The Mortgage Industry Ponders: How to Finance ‘Gig Economy’ Borrowers May 31, 2018 Brandon Ivey Seventy-one percent of lenders said borrowers with gig-economy income have applied for a mortgage within the past year...Read More
First-Time Buyer Share of Purchase-Mortgage Market Up in Early 2018 May 31, 2018 John Bancroft First-time buyers continue to fight the challenges of rising house prices, higher interest rates and depleted inventory… Read More
Cherry Hill REIT Raising Nearly $50 Million, Prompting Speculation on Expansion May 31, 2018 Brandon Ivey The REIT was vague when describing what the cash will be used for, sticking to the standard line about using the proceeds for “general corporate purposes.”Read More
Citizens Bank Agrees to Buy Top-Ranked TPO Lender FAMC for Just 1.1-Times Book May 31, 2018 Paul Muolo Roughly 95 percent of FAMC's production comes from brokers and correspondents, according to Inside Mortgage Finance...Read More
Castle & Cooke Mortgage Sold to CEO Adam Thorpe and Eli Global May 31, 2018 Paul Muolo Based in Durham, NC, the privately held Eli Global has insurance assets and tries to keep a low profile. Read More
Short Takes: Mel Watt’s Successor May Be… / Morgan Stanley had a Role in the FAMC Deal / Consolidation Nation? / A New MBS from Redwood / New Hires for Home Point May 31, 2018 Brandon Ivey and Paul Muolo The consolidation tidal wave approaches ... or maybe not...Read More
Short Takes: Time to Cut Pay for Loan Officers? / Something Has Got to Give / New Rez Readies Non-Agency MBS / Ocwen CFO Resigns / Calyx Hires Sales Chief May 30, 2018 Brandon Ivey and Paul Muolo loanDepot CEO Anthony Hsieh: “Something’s got to give."Read More
The Beat Goes On: GSE Credit Scores Much Higher Than on Ginnie Product May 30, 2018 John Bancroft During the first quarter, the average credit score at Fannie Mae was 741.15, slightly below the average 744.73 at Freddie Mac.Read More
RSS