IRS Modernization Bill Gains Traction. Mortgage Implications? May 2, 2019 Brandon Ivey Among many other IRS reforms, the bill would modernize the Income Verification Express Service.Read More
Hedge Fund Exec Amasses (Small) Stake in Ocwen May 2, 2019 Paul Muolo A search of SEC records shows that Ocwen is not Martini’s first mortgage-related investment. In the past week, he’s owned a stake in Ditech Financial.Read More
Short Takes: Freedom Mortgage to Cherry Hill: We’re Done / But Why? / CEO’s Mansion Has Nine Bathrooms / A Loss at Mr. Cooper Tied to Negative MSR Marks / Flagstar Gets a Secondary Marketing Chief May 1, 2019 Brandon Ivey and Paul Muolo Officials at Mr. Cooper said the loss was primarily driven by a negative $293 million net fair value mark on mortgage servicing rights.Read More
New Residential Posts a $155M Profit, Keeps Gobbling Up MSRs May 1, 2019 Brandon Ivey New Residential acquired MSRs with a total unpaid principal balance of $49 billion in the first four months of 2019.Read More
AEI Blames FHA Volume Decline on TOTAL. MBA Says Pinto Is Wrong May 1, 2019 George Brooks However, the Mortgage Bankers Association disagrees with Pinto’s findings...Read More
NLRB: Quicken Justified in Firing Employee after Foul Language Incident in Bathroom April 30, 2019 Brandon Ivey The National Labor Relations Board sided with Quicken Loans in the dispute...Read More
In the Name of Nonbank Liquidity, Caliber CEO Das Floats GSE, FHLB Involvement April 30, 2019 Paul Muolo Nonbank liquidity: a real issue or something else?Read More
Short Takes: A Bill to Stop Lobbying by the GSEs / Who Said They Were Lobbying? / Redfin Mortgage Continues to Expand / Pending Home Sales Increase (Slightly) / Incenter Hires Whole Loan Trading Chief April 30, 2019 Paul Muolo Are GSE officials lobbying Congress?Read More
Short Takes: President Trump to the Rescue (On Rates)? / Then Again, If Stocks Crumble / Warehouse Risk? / Sales Commissions Continue to Rise / New Hires for Greystone April 29, 2019 Paul Muolo Sales commissions for retail loan originators totaled 111 basis points last year, according to a tally from MBA...Read More
Impac, Sprout Among Top Expanded-Credit MBS Lenders, However… April 29, 2019 Brandon Ivey Just because you're a non-QM lender, that doesn't mean you're an issuer...Read More
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