Rocket IPO ‘Roadshow’ Commences. Public Offering Valued at Upwards of $3.3 Billion July 28, 2020 Paul Muolo The “virtual” roadshow started Friday, with meetings running through Wednesday afternoon, when final pricing is expected.Read More
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
Another Decline in the Forbearance Reading but Ginnie and PLS Loans Increase July 27, 2020 Paul Muolo MBA believes that as a result of large buyouts of FHA and VA loans by banks from Ginnie Mae pools, these mortgages are now listed as portfolio loans...Read More
MSR Auctions Begin A Revival? IMA Unveils a $6 Billion Offering July 27, 2020 Paul Muolo The seller is described as a “well-capitalized, independent mortgage banking entity managed by industry veterans.” 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
Are the Non-Agency COVID-19 Forbearance Numbers Reliable? July 24, 2020 Brandon Ivey In general, the nature of the non-agency market makes it difficult to standardize practices across the industry, let alone in individual MBS. Read More
CFPB Settles With Foreclosure Relief Firm for $3M July 24, 2020 Yemeng Yang The CFPB said Certified Forensic Loan Auditors charged each customer $1,495 upfront prior to providing any services.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
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
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