Short Takes: So, You Want to be an LO? We Can Train You / Quicken Targets Cash-out Refi Market / Can You Live on 25 Basis Points? / Key RESPA Webinar Next Week / Some History on PHH March 1, 2017 Paul Muolo How much do LOs working at call centers earn per deal? We heard that some shops pay as little as 15 to 25 basis points...Read More
Caliber Home Loans Agrees to Buy Lending, Servicing Assets from Banc of California March 1, 2017 Paul Muolo In late January, Steven Sugarman, who built the bank into a well-regarded regional lender, resigned as CEO.Read More
Will Dwindling Refinances Lead to Layoffs? February 28, 2017 Paul Muolo As one executive put it: “January was slow, February was lower, and I can’t tell how March will be yet.”Read More
Short Takes: Who Will Lead FHA? / Radian Says It’s News to Bazemore / Vote on Carson Nears / Will Trump Mention the GSEs? February 28, 2017 Paul Muolo Then again, Trump has been known to surprise people. Read More
Short Takes: More on Ocwen’s CFPB Problem / An Invitation to Write a NORA Letter / MSR Buying Dreams Up in Smoke? / Ocwen for Sale Eventually? / A New Hire for ClosingCorp February 23, 2017 Paul Muolo The disclosure comes on the heels of a recent legal settlement in California that paves the way for Ocwen to buy servicing rights once again...Read More
Short Takes: CoreLogic Executive Departs. No Reason Given / Getting Excited About Ocwen? / What Does Bill Erbey Know? / MountainView Hits Market with Two New MSR Deals / Norcom Expands Into Tampa February 21, 2017 Paul Muolo No details were available on why Dave Hurt parted ways with CoreLogic...Read More
When it Comes to Firing CFPB Director Cordray, Maybe the Trump Administration is Going About it All Wrong… February 17, 2017 Thomas Ressler “If Cordray were engaged in malfeasance, inefficiency or neglect of duty, don’t you think the Obama administration would have done something about that?” asked one legal scholar.Read More
What We’re Hearing: Huge GSE Profits, Don’t Get Used to It / The Perfect (Earnings) Storm / A Ginnie Solution for the GSEs? / PHH’s New Strategy / Aide to HUD Nominee Ben Carson Fired for Writings Critical of Trump February 17, 2017 Paul Muolo One former Fannie Mae official told us that stellar profits posted by the two are “just about done.” Read More
Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender February 16, 2017 Carisa Chappell and Paul Muolo While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...Read More
Short Takes: Branch Manager Departures at loanDepot / Nationstar a Candidate for PHH MSRs? / Delinquencies Spike in Some Categories / Still in Love with Ocwen: Bill Erbey / Coming Soon: Warehouse Ranking February 15, 2017 Paul Muolo Bill Erbey, who was forced out by financial regulators two-plus years ago, controls 16.8 percent of Ocwen Financial...Read More