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In the Mortgage M&A Game, Small and Medium-Sized Shops are Targets

May 26, 2017
Paul Muolo
In years past, RPM has been a selective buyer of mostly smaller shops.
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What We’re Hearing: Don’t Bet on Court Outcomes / Randy May Want to Wait on the Curtains / No President, No Cry / About that $627 Million… / What About a Partial Capital Cushion for the GSEs? / A Busy Week for Incenter, Phoenix

May 26, 2017
Paul Muolo
If Trump is successful, presumably the money would flow through to the bottom line of Fannie and Freddie and counted toward earnings.
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TPO Lenders Fared Slightly Better Than Retail in a Declining 1Q17 Market

May 25, 2017
John Bancroft
The retail segment saw the biggest decline, dropping 34.6 percent to an estimated $221.0 billion.
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The Supreme Court Could be the Final Venue for PHH Corp. v. CFPB

May 25, 2017
Thomas Ressler
One constitutional issue that garnered some attention: whether a multi-member commission is more legitimate than a single director…
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Nonprime Lender Citadel Ready to Enter the Small-Balance Commercial Market

May 25, 2017
Paul Muolo
Citadel’s small-balance commercial program will include mixed-use retail and other loan types.
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New Product Watch: Guild’s 1% Downpayment Loan; Stearns Pushes Temporary Rate Buydown

May 25, 2017
Brandon Ivey
Stearns said that temporary interest rate buy-downs are good for borrowers who expect their incomes to increase in the relatively near future.
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More MSR Offerings from Incenter

May 25, 2017
Paul Muolo
For the week, IMA rolled out $3.87 billion worth of servicing auctions.
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Short Takes: Trump Copies Obama’s FHA Tech-Fee Idea / More Wholesale Lenders? / Home Point Deal Progresses / CHLA Presses for FHA Premium Cut / A New Director at Impac Mortgage

May 25, 2017
Paul Muolo, George Brooks, and Brandon Ivey
When’s the last time a publicly traded mortgage company was sold in a stock transaction?
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Warehouse Commitment Levels Declined Slightly In 1Q17; Is Profitability of Nonbanks a Concern?

May 25, 2017
Warehouse lenders ended the first quarter of 2017 with an estimated $59.0 billion of commitments on their books, a 4.8 percent sequential decline, according to exclusive survey figures compiled by Inside Mortgage Finance. Compared to a year ago, commitments were up 13.5 percent. However, many nonbanks sign commitment deals but don’t always draw on the lines very heavily. A case in point was the first quarter: the drop in commitments was benign compared to the overall decline in originations. Industrywide, residential lending fell by 33.6 percent from the fourth quarter. The good news for the warehouse sector is...[Includes one data table]
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In the Mortgage M&A Game, New Entrants Eye Smaller Shops, RPM Mortgage Nears a Deal

May 25, 2017
As summer approaches, the mortgage mergers-and-acquisitions market is heating up – with mostly talk. However, soon that chatter may lead to actual deals. According to investment banking sources, at least three mid-sized nonbanks may pull the exit parachute soon, with offering books ready to follow. The identity of the three firms was not provided, but the firms are well known, said one source. Meanwhile, the list of possible buyers hasn’t changed...
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