The Red Ink Keeps Piling Up at PHH; Revenue Plunges 43 Percent in 2Q August 9, 2017 Paul Muolo At June 30, PHH had commitments to sell $52.3 billion of mortgage servicing rights.Read More
Impac Shifts Production Away from GSE Mortgages to Non-QMs and Government-Insured Loans August 9, 2017 Brandon Ivey In trading Wednesday, Impac’s share price was down almost 6 percent… Read More
In 2Q17, Correspondent Channel Held Up in a Shifting FHA/VA Market August 9, 2017 John Bancroft Brokers saw the biggest increase in FHA business, with volume up 14.5 percent…Read More
Investors Love Mortgage REITs, Nonbanks Not So Much; Another IPO Try for loanDepot? August 9, 2017 Paul Muolo Industry consultants contend that loanDepot – the nation’s 10th largest overall originator – still hopes to go public one of these days…Read More
Mortgage Hiring Flat but Some Firms Continue to Add Heads August 9, 2017 Paul Muolo Citadel Servicing Corp., Irvine, CA, is also looking for a correspondent sales rep for the East Coast...Read More
Short Takes: The FCA and VA Loans? / CFPB to Zillow: You’d Better Settle / Some Details on JPM’s New Non-Agency MBS / Buying a Home Without Ever Seeing It / Altisource Hires Nomura Executive August 9, 2017 Brandon Ivey, Paul Muolo, Sherry Muolo, and Thomas Ressler Morningstar said the ratings were discontinued due to a request from Ocwen...Read More
PHH Enters Into Settlements with DOJ, FHFA to Settle Underwriting Issues Tied to Legacy Loans August 8, 2017 Paul Muolo PHH said it settled the cases without admitting liability “to avoid the distraction and expense of potential litigation.”Read More
Loans in New ‘Nonprime’ MBS Look like ‘Alt A’ Loans Really August 8, 2017 Brandon Ivey In fact, some of the underwriting characteristics on new nonprime loans are even stronger than the credit quality on pre-crisis Alt A mortgages…Read More
Trade Groups Call on CFPB to Address the GSE ‘Patch’ One Way or Another August 8, 2017 Thomas Ressler The Consumer Mortgage Coalition and MBA separately recommend replacing the GSE patch with a more transparent set of criteria…Read More
Movement Mortgage CEO Rebrands His New Bank as, You Guessed It, Movement Bank August 8, 2017 Paul Muolo According to Casey Crawford the recapitalized depository will focus on “loving and serving people.”Read More
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