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
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
A Boom Year for M&A and MSR Sales? April 30, 2019 John Bancroft Declining interest rates have caused some MSR sellers to pause...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
Quicken Clarifies: Despite a Court-Appointed Mediator, It Has No Plans to Settle FCA Case April 29, 2019 George Brooks Quicken vehemently denied the accusation and in April 2015 filed a lawsuit in federal district court in Detroit, accusing the government of “arbitrary and capricious conduct and misuse of power to extort money from lenders.”Read More
FHA and VA Delinquencies Plummet April 29, 2019 John Bancroft Meanwhile, Wells Fargo continues to dominate the Ginnie Mae servicing arena with a $277.7 billion portfolio at March 31...Read More
What We’re Hearing: Due Out Next Week: GSE Earnings / The Last Dividend Payment? / Maybe a Chance at Reform Legislation? / LendingTree’s Money Tree? / MIAC’s MSR Auction April 26, 2019 Paul Muolo Keep an eye on what the GSEs say about their dividend payment...Read More
Fannie/Freddie 1Q19 Earnings Preview: Decent but Keep an Eye on the Hedging ‘Marks’ April 26, 2019 Paul Muolo The government-sponsored enterprises continue to fire on all cylinders. However...Read More
More Red Ink for Industry Vendor Altisource April 25, 2019 Paul Muolo Altisource is in the process of selling its financial services business, which should bring in roughly $44 million...Read More
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