“We believe the implementation of state-specific standards offered in the proposal would create consumer uncertainty, add additional costs and produce possible deviations from federal law,” wrote the trade groups.
Citi’s strong showing is likely a harbinger of good news for the residential sector, especially since Citi uses predominantly retail/direct – with some correspondent – to produce loans. In the first quarter, the bank ranked 22nd among all funders...
As Wedbush and other research firms have pointed out: Mr. Cooper does not hedge its MSR positions, resulting in large non-cash marks when rates decline from quarter to quarter, and write-ups when interest rates increase.
The other lenders that Moody's looked at: Ditech Financial, Freedom Mortgage, Mr. Cooper, New Residential, Ocwen Financial, PennyMac Financial Services, Provident Funding Associates and Stearns Lending...
The Chapter 11 bankruptcy petition provides a way for Stearns to eliminate the debt while selling the balance of the firm to Blackstone. But there’s a catch: the bankruptcy plan allows for third-party investors to make a bid for Stearns.
Despite the so-so reading from the government, nonbank mortgage giants the likes of loanDepot and United Wholesale Mortgage continue to hire in large numbers.
Once effective, the requirements of the HECM law are significant, according to Allison Schoenthal, an attorney and partner in the New York office of Hogan Lovells...
Production executives and the teams they manage are making hay while the sun shines. Top ranked nonbank originators such as loanDepot, United Wholesale Mortgage and Guaranteed Rate are all hiring as the applications pour in.
How do you get out of a debt bubble? Answer: Raise taxes and cut spending, something U.S. politicians have been loath to do. Or you could print more money...
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