At Least 12 VA Lenders Subpoenaed by the Feds. Former Regulator: ‘This is Going to be Huge’ May 8, 2019 Paul Muolo Former FHA Commissioner Dave Stevens: "Churning is bad for Ginnie Mae investors."Read More
Short Takes: The GSE G-Fee ‘Tax’ that Time Forgot / Sunset Rising / Nonbank Completes Bank Purchase (A Rarity) / Ocwen’s Cash Position / Panorama Names Egenhoefer MGD May 7, 2019 Paul Muolo It's only 10 basis points on GSE loans, but it can add up...Read More
CFPB Issues Long-Awaited Debt-Collection Rule Proposal May 7, 2019 Yemeng Yang The CFPB proposed a new debt collection rule, hoping to clarify such issues as how many calls a week a collector can lawfully make...Read More
At Ocwen, the Red Ink Continues to Flow … But MSR Purchases Pick Up May 7, 2019 Paul Muolo Ocwen's originations were anemic at $353 million in the quarter. Read More
Loan Brokers Add Jobs, Mortgage Bankers Cut May 6, 2019 Paul Muolo Although the overall job market is strong, all is not well in the mortgage industry. Maybe next month will be better...Read More
Ditech Reports Another Monthly Loss. Two Month Total at $176.5 Million May 6, 2019 Paul Muolo The company registered gain-on-sale revenue of $9.8 million, just about flat compared to February.Read More
Up for Grabs: A Huge Subservicing Contract from New Residential May 3, 2019 Paul Muolo Subservicing vendors known to be vying for the contract are Cenlar and LoanCare...Read More
Ginnie Mae Seeks Feedback on Potential Changes to Pooling Criteria May 3, 2019 George Brooks Ginnie Mae is seeking public comment about the impact of potential changes to its loan-pooling guidelines.Read More
PennyMac Posts $46.1 Million in Net Income for 1Q. Originations Down, Servicing Up... May 3, 2019 Brandon Ivey PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."Read More
Short Takes: President Trump Wants to Do What? / The Mother of All Servicing Asset Writedowns / loanDepot’s New Warehouse Securitization / Investment Property MBS from AMIPM / HMDA Relief via the CFPB May 2, 2019 Paul Muolo Just think what a 100 basis point cut in interest rates would do to the mortgage market...Read More
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