Short Takes: Fidelity Information Systems Wins the Ocwen Contract / Ocwen Pays Down More Debt / No 'Conflict Minerals' for Fidelity / The Feds and Diversity / The Federal Insurance Office? June 10, 2015 Paul Muolo and Thomas Ressler According to the consent order in the case, Ocwen had a history of ignoring the agency’s document requests...Read More
Angel Oak Offering $100 Million of Nonprime Whole Loans? Securitization on Hold? June 10, 2015 Paul Muolo One source said Nomura also was providing warehouse credit to Angel Oak. Read More
More Executive Departures at Nationstar? June 9, 2015 Paul Muolo One official described the situation: “Just more house cleaning now that Harold [Lewis] is gone. Most of the senior people leaving were his supporters.”Read More
Short Takes: RoundPoint Sale Update / MSR Prices Firm Up / More on that Departing Nationstar Executive / Morningstar Joins the Jumbo Party / A New CEO for Auction.com June 9, 2015 Carisa Chappell, Brandon Ivey, and Paul Muolo One of the departing executives at Nationstar Mortgage used to work at JPMorgan Chase, Fannie Mae and Macquarie Bank…Read More
Short Takes: Home-Equity Layoffs at BofA / BofA, Number Two in Seconds / Ditech Continues to Hire / Another GSE PSPA Lawsuit / HUD Goes to USC June 8, 2015 Carisa Chappell and Paul Muolo According to exclusive figures compiled by Inside Mortgage Finance, BofA is the second largest player in second liens at $139.1 billion in holdings.Read More
What We’re Hearing: PHH Wondering ‘Who Moved My Mortgage Cheese’? / PLS Implications: What Does Merrill Lynch Think? / IMA Offers $2 Billion of MSRs / Piercy on MSRs: Buy Now / Ginnie About to Catch up with Fannie? What? June 5, 2015 Paul Muolo The CFPB case likely won’t make Merrill Lynch feel good about PHH, but we could be wrong. The two go way back…Read More
Fast Growing Nonbank RPM Will Pay $19 Million to Settle Steering Allegations June 4, 2015 Paul Muolo Over the past year, RPM has been in the hunt to buy other mortgage companies, investment banking sources told IMFnews.Read More
Short Takes: FHFA Official Spills the Beans on LPMI, More / But Comments Made Behind Closed Doors / Mortgage Applications Down Modestly / Loans With MI Have Good Closing Record / A New Hire for Clayton June 3, 2015 Paul Muolo Not only is the FHFA scrutinizing lender-paid mortgage insurance products, but the agency might require higher capital standards...Read More
Short Takes: CFPB Fines of $1 Million a Day? / A Boon for Second-Lien Investors? / Billions of Dollars in HELOCs? / HARP Goes to Arizona / A New Hire for Hamilton June 2, 2015 Brandon Ivey and Paul Muolo According to one trader, secured nonperforming seconds sell in the secondary market for one penny on the dollar to 20 cents on the dollar…Read More
Short Takes: Two Harbors Readies a Jumbo MBS / Available: A Large Pool of Subprime Loans? / LenderLive Buys Walz / A Done Deal: The Merger of Two FHLBs / A New Hire for ZAIS June 1, 2015 Brandon Ivey and Paul Muolo We understand that a large pool of nonprime mortgage loans is looking for a home...Read More
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