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Short Takes: Bucking the Origination Trend: BofA and USB / A Strong Quarter for Warehouse Bank Texas Capital / Reliant Hires RoundPoint as a Subservicer / Waterstone in the Hunt for a CEO / A New Hire for Guaranteed Rate

April 19, 2019
Paul Muolo

A stand-out was Texas Capital's “loans held for investment” program which ended the quarter at $6.30 billion, up 34% from a year ago. 


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CEO Messina’s Comp Plan at Ocwen: $4.5 Million

April 19, 2019
Paul Muolo

The Ocwen filing notes that Messina was paid $240,000 per month in order to preserve his availability...


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Short Takes: Layoffs of Almost 1,000 at Ditech / Employee Retention Woes / Fannie Mae is a Large Customer / JPMorgan Readies Another Prime Non-Agency Deal / Quicken Teams up with Airbnb-Like Firm

April 18, 2019
Brandon Ivey and Paul Muolo

The Chapter 11 bankruptcy filing also reveals that Fannie Mae is a large subservicing client of Ditech’s, though not its largest. That distinction belongs to New Residential Mortgage, the REIT…


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JPM Has a New Mortgage (Consumer) Chief: Marianne Lake

April 18, 2019
Paul Muolo

The Lake promotion comes about two weeks after JPM Chairman and CEO Jamie Dimon in a letter to shareholders said the megabank is considering significant changes in its home lending operations...


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Ditech Discloses Limited Financials and It’s Not Pretty: A $105 Million Loss for February

April 18, 2019
Paul Muolo

The Ditech financial hole just got bigger...


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Short Takes: A ‘Perfect Storm’ Hammered Mortgage Profits / How Bad? Try 2008 / Ocwen Grants CEO Messina Stock Awards / Colony Set to Buy PFB Mortgage / Evolve Hires Former Wells Executive as Mortgage President

April 17, 2019
Paul Muolo

The negative factors include higher rates, lower originations, and rising expenses, resulting in the lowest net production income per loan reading since 2008...


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Short Takes: A Record Non-QM Quarter for Angel Oak / $9.7B Under Management / Good News for FHFA, Bad News for HUD / Filling the Holes / Take Our Servicing Trivia Test

April 16, 2019
Paul Muolo
A record production quarter for Angel Oak...
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Deephaven Preps its Second Nonprime MBS of the Year

April 16, 2019
Brandon Ivey

Some 98 lenders contributed mortgages to the $369.73 million nonprime MBS, though only one was identified by rating services.


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Residential Lending at Citi Drops 13% in 1Q19

April 15, 2019

Among all originators, Citi ranks 22nd overall...


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Wells Fargo's First Quarter Results Suggest Mortgage Apps are Now Booming

April 12, 2019
Paul Muolo

Wells' results also suggest that better days are ahead for originators everywhere...


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