Flagstar Turns a Strong Profit on Mortgage Lending in 2Q20 July 28, 2020 Brandon Ivey Flagstar posted a whopping gain-on-sale margin of 219 basis points compared to 80 bps in 1Q20... Read More
Short Takes: About Those Million-Dollar Earners / Hear It and Then Cut It in Half / Rates? / BKFS on Forbearance / CHLA Addresses GSE Capital / A Promotion at Waterstone Mortgage July 24, 2020 Paul Muolo and Dennis Hollier Higher mortgage rates in six months? No one sees it...Read More
Origination Boom Creating ‘Millionaire’ Loan Officers? Yes, Some July 24, 2020 Paul Muolo One mortgage CEO suggested LOs might spend their hard earned money on a new Tesla or maybe a beach house... Read More
Dems Worry About OCC’s COVID-19 Preemption July 23, 2020 Yemeng Yang The OCC last month issued several bulletins on federal preemption, including one on states’ foreclosure moratoria... Read More
The Final (Amazing) Tally for 2Q20: $865 Billion, a 17-Year High July 23, 2020 John Bancroft The top gainer among the 20-largest originators: Guaranteed Rate of Chicago...Read More
A Slight Increase in Mortgage Repurchases by Depositories July 23, 2020 John Bancroft The call-report figures generally track buyback trends documented by Fannie and Freddie, though the bank figures may include repurchases and indemnifications linked to other buyers.Read More
Court Rules in Favor of RoundPoint, Allows M&A Lawsuit Against Freedom to Proceed July 23, 2020 Paul Muolo Freedom's proposed acquisition of RoundPoint Mortgage has turned into a legal mess...Read More
Another Quarterly Loss for New Residential, Originations Suffer July 22, 2020 Paul Muolo NRIC’s mortgage banking affiliate, NewRez, funded $8.3 billion of residential loans in 2Q20, a sequential decline of 27.2%...Read More
A Cloud Hanging Over Jumbos? July 22, 2020 Brandon Ivey Lenders across the nation are taking a close look at their jumbo underwriting standards, including market leader Wells Fargo... Read More
The Pandemic Effect? GSE FICO Scores Head North in 2Q20 July 22, 2020 John Bancroft Mortgages with credit scores of 740 and up accounted for 72.69% of GSE refi business, up from 65.55% in the first quarter. Read More
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