What We’re Hearing: CALCAP Working on $100 Million Fund for Non-Agency / The Changing Nature of ‘Fix and Flip’ / Altisource Lures Away Ginnie’s Man on the Hill / Not So Fast on Those GSE Raises / Improving Delinquencies Kill Another Business July 24, 2015 Paul Muolo Serious money continues to plow into non-agency mortgage lending. Meanwhile, Altisource hires Ginnie Mae's man on the hill...Read More
Short Takes: Some Details on LPMI Volume and Discounting / Happy Birthday to the CFPB and Dodd-Frank? / Do Mortgage Firms Need a Chief Risk Officer? / Annaly Gets a New CEO July 21, 2015 Paul Muolo and Thomas Ressler Happy birthday to the CFPB? Well, it all depends on which side of the mortgage table you sit on...Read More
Short Takes: More Wholesalers Entering the Market? / Expanding from VA to FL / Cerberus Unit Readies ‘Seasoned’ MBS / When on PHH? / W.J. Bradley Exec Jumps Ship for Home Point July 20, 2015 Paul Muolo and Brandon Ivey A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...Read More
What We’re Hearing: Is Non-QM Lending a Bust? / The Pathos of Ethos / TRID May Delay Loan Closings by How Many Days? / Telling the Truth on Loan Closings / A Record Year, So Far, for United Wholesale / Little League 1, the CFPB 0 July 17, 2015 Paul Muolo During the first six months of 2015 UWM funded $6.78 billion. “It was our best six months ever,” CEO Mat Ishbia told IMFnews...Read More
Ranieri’s Specialty Servicer Selene Gets New CEO: Pensabene from Bayview July 16, 2015 Paul Muolo Selene CEO and industry veteran Larry Litton is retiring. Years ago Litton launched Litton Loan Servicing, which he eventually sold to Goldman Sachs.Read More
Short Takes: More MSR Packages Hit the Market / Who Was at the First CSS Advisory Meeting? Wells Fargo and Others / New Home Sales Rise / Strong Earnings From MGIC July 16, 2015 Paul Muolo and Sherry Muolo CSS recently unveiled the trade groups that would participating in the IAG, but did not identify any individuals…Read More
Short Takes: Specialty Servicer Wingspan Finally Goes Bust / Too Many Debts, Not Enough Assets / Auction.com Steps Up on CRE Sales / Correction on FHFA / Stonegate Hires TPO Executive July 15, 2015 Paul Muolo One source close to Wingspan told IMFnews that many executives have been let go, including marketing director Guy Davies.Read More
Short Takes: Wells’ Appetite for Nonconforming Mortgages Rises / Someone Who Didn’t Rat Out the Neighbor on a Foreclosure / Locating Delinquent Borrowers on Facebook / How Much in Senior Home Equity? / A New Hire for LenderLive July 14, 2015 Paul Muolo, Brandon Ivey, and Sherry Muolo A few years back, one investor in nonperforming loans told us that when he couldn’t find a delinquent borrower he turned to the Internet, namely Facebook...Read More
Freedom Likes the VA Market; Has Added at Least 700 Workers to Promote FHA/VA July 13, 2015 George Brooks Over the past seven months, Freedom Mortgage has added 700 to 800 new employees to promote and originate VA and FHA loans.Read More
Servicing Analytics Firm MIAC Launches Broker-Dealer, More Growth Ahead? July 13, 2015 Paul Muolo MIAC also sells mortgage servicing portfolios, though that’s considered to be a small part of their business.Read More
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