Volatility in Expanded-Credit Market Shakes Up MBS Contributors August 8, 2022 Brandon Ivey Among the top five contributors to expanded-credit MBS in 2021, only two cracked the top five in 2Q22...Read More
A Huge 2Q Revenue Drop for Rocket as Declining Refis Take Their Toll August 5, 2022 Paul Muolo The results, released after the closing bell Thursday, also revealed a respectable 2Q22 gain-on-sale margin of 292 basis points...Read More
Short Takes: Plenty of Jobs, Just Not Mortgage Jobs / Other Opportunities / The Guild GOS Story / MSRs for Sale / More Expansion for Falcon August 5, 2022 Paul Muolo The rate reprieve isn’t enough to eliminate the staff reductions that are now going on at most shops.Read More
Ocwen’s Income Declines in Second Quarter August 4, 2022 Brandon Ivey Income from MSR markups declined and origination units took losses in the second quarter.Read More
Mortgage Earnings Decline by 39% at Publicly Traded Banks August 3, 2022 Brandon Ivey Declining originations and margin cut into mortgage-related earnings at 24 key lenders.Read More
PennyMac’s Income Dips in 2Q, Servicing Still Key August 3, 2022 Brandon Ivey The bulk of PennyMac's income in the second quarter of 2022 was tied to servicing.Read More
Rithm’s Break From Fortress Prompts Loss in Second Quarter August 2, 2022 Brandon Ivey The REIT paid a $325 million fee to an affiliate of Fortress Investment Group to shift to internal management.Read More
Short Takes: Rocket Launches HEL; Flagstar Merger Update; Financing Energy Efficiency August 1, 2022 Brandon Ivey Rocket's new home-equity loan; NYCB waiting for regulatory approval on Flagstar merger; homeowners looking for financing for energy efficiency improvements.Read More
Servicing Props Up Mr. Cooper’s Earnings in Second Quarter July 27, 2022 Brandon Ivey Net income at Mr. Cooper Group declined by 77.1% on a sequential basis to $151 billion in the second quarter.Read More
Western Alliance Bank’s Lending Holds Up in Second Quarter July 25, 2022 Brandon Ivey Originations at the bank were essentially flat in the second quarter while margins dropped.Read More