If Fannie and/or Freddie have a negative net worth, investors wouldn’t buy their MBS and if investors don’t buy their MBS we would have financial Armageddon…
At Impac, Mangiaracina will split his time between the nonbank’s headquarters in Irvine, CA, and New York where the company has just opened a new satellite office.
In less than 10 months, a volume-heavy private-label origination deal that PHH Mortgage has with Wall Street giant Merrill Lynch is set to expire, potentially blowing a hole in its production machine. According to a recent filing with the Securities and Exchange Commission, PHH acknowledges that “there can be no assurances that the agreement will be renewed on favorable terms, if at all.” If the deal were to be cancelled, PHH could see...
The most aggressive bidders for high-performing mortgage loan officers are nonbanks, which have been steadily stealing market share away from the megabanks...
Although George Ellison’s salary was not disclosed in the press release announcing his employment with the company, a subsequent filing provided details: $450,000 per year, another $450,000 in incentive bonuses...
After seeing what’s transpired at Nationstar, Owen and Walter the pass year, would Dan Gilbert (who owns Quicken Loans) and Stan Middleman (Freedom’s owner) ever ponder going public?...
Not only are residential loan officers in high demand these days – especially ones with fat Rolodexes – but some of these top performers are being offered “signing bonuses” of $5,000 to $40,000, and even more to jump ship. Moreover, according to interviews conducted by Inside Mortgage Trends, the most aggressive bidders for high-performing LOs are nonbanks, which have been steadily stealing market share away from the megabanks the past few years. “Most depositories are not committed...
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