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What We’re Hearing: PMAC-Blackstone Deal in Trouble? / A Lousy Closure Rate / No One is Losing Money Right Now / Impac is No Quicken / Ellington? / PHH is NOT Under Investigation by the NYDFS / Say It Ain't So, Joe

May 8, 2015
Paul Muolo
One advisor reminded us that in the world mortgage M&A many potential deals go south...
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Bipartisan House Bill Allows Bank Loan Officers to Move Easily to Nonbanks

May 7, 2015
Brandon Ivey
The legislation would provide a temporary transitional license and give loan originators 120 days to pass testing standards...
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Trade Group Calls for Disclosures on Loan Officer Qualifications

May 6, 2015
Thomas Ressler
Such disclosures also should show whether the LO has passed the SAFE Act test.
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Short Takes: FHFA’s Reps-and-Warranties Clarifications a Bust? / Deephaven’s Nonprime Volume a Mystery / A ‘Responsible’ Nonprime Lender / Mostly a Seller’s Market for Homes?

May 6, 2015
Paul Muolo
Deephaven's website boasts that it helps “aspiring” homeowners “purchase homes as soon as one day after foreclosure or short sale.”
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Short Takes: Michigan Mutual Names New Retail Chief / Sterne Agee Dumps Altisource / However, ASPS Insiders Buy Shares / Ellie Mae’s Lofty PE Ratio / MGIC Gets New EVP of Risk

May 4, 2015
Paul Muolo
Late last month, Sterne Agee rated Altisource an “underperform,” which is a nice way of telling investors to sell the stock…
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What We’re Hearing: PMAC Hits the Auction Block / Who’s Next? / A $1B Originator Goes to a Bank / Ocwen’s Back, Baby (Not Really) / What’s in a Mortgage Company’s Name? / MI Firms Post Earnings

May 1, 2015
Paul Muolo
One thing investors and analysts look for is revenue growth and Ocwen Financial did not deliver. But at least all of its lending licenses are intact...
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NMLS: Multiple-State Mortgage Franchises Increase; More LOs Too

April 30, 2015
Paul Muolo
The number of branch licenses for mortgage originators increased by 12 percent to 43,381.
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Short Takes: Lab Test Says GSEs Might Need $157B. What? / GOP Congressman Wants GSE Profits Used to Pay Down the Debt / CFPB Slams Title Firm Executives / CFPB Attorney Leaves for the Private Sector

April 30, 2015
Carisa Chappell, Paul Muolo, and Thomas Ressler
But not to worry: the FHFA said the projections were mandated under the Dodd-Frank Act, cautioning that its estimate is just that, and not an expected outcome….
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Blackstone Hires Former Lehman MGD Libman to Head Mortgage Unit

April 29, 2015
Paul Muolo
Blackstone, without fanfare, purchased Gateway Funding in Horsham, PA. More deals are in the works...
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Short Takes: Dead Silence on GSE Reform / EverBank Dumps More MSRs / Brian Libman’s Work History / The Ocwen Watch

April 29, 2015
Paul Muolo and Thomas Ressler
Nationstar will take title to $6.7 billion of Fannie Mae, Freddie Mac and private investor product owned by EverBank...
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