Publicly Traded Mortgage Firms Not Exactly Setting the World on Fire November 21, 2017 Paul Muolo Industry observers contend Ocwen, another money-losing company, would love to find a merger partner, but must first resolve its regulatory problems…Read More
Flagstar Rolls Out Zero-Down Product With Closing Cost Assistance November 21, 2017 George Brooks Qualified borrowers need not worry about repaying the closing-cost amount, Flagstar said...Read More
Short Takes: United Wholesale Rules the Table-Funding Roost / Wells Fargo the King of Correspondent / Beware the Dow Jones / Another Top Executive Departs November 21, 2017 Paul Muolo When the Dow Jones corrects, rates will plunge. Right? Read More
Publicly Traded Nonbanks Post Earnings Gain for 3Q17 – Thanks to PennyMac November 21, 2017 John Bancroft Excluding PennyMac, the eight remaining nonbanks had a combined $41.21 million net loss on mortgage banking activity…Read More
FHA’s ‘Tangible Benefit Test’ Might be the Solution to VA’s Churning Problem November 21, 2017 George Brooks However, a tool currently used by FHA appears to be an obvious solution to the churning problem…Read More
One Week After Cordray Declared He’s Leaving the CFPB, Trump Still Hasn’t Named a Replacement November 21, 2017 Thomas Ressler So, where’s Mick?Read More
A 40-Page GSE ‘Draft’ Bill is Circulating in the Senate November 21, 2017 Paul Muolo As press time, details were sketchy, but lobbyists who claim to have knowledge of the draft caution there are several “different pieces” to the measure...Read More
(A Ton) of Mortgage Executives on the Move? November 21, 2017 Paul Muolo Industry consultant Paul Hindman: “There seems to be a growing number of participants in this year’s game of musical chairs."Read More
Short Takes: Franklin Codel’s Immediate Plans / Forfeiture of Stock / Entitled to a Severance Package of $2 Million? / MBA Weighs in on CFPB’s Strategic Plan November 21, 2017 Paul Muolo and Thomas Ressler Codel joined the megabank in 1993. He’s a graduate of Harvard University with a degree in engineering science…Read More
3Q17 Results: Third-Party Lenders Gained Market Share in a Purchase-Heavy World November 21, 2017 John Bancroft In the broker channel, United Wholesale Mortgage once again dominated…Read More