Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India? March 4, 2013 Paul Muolo Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.Read More
Yes, Subprime Lending is Finally Back / Will Fannie Post 4Q Earnings of $8 Billion? / FHA User Fees? / 17,000 FHA Loans to Hit the Auction Block / UGI Now # 1 / Wells Fargo Loses Top Regional Manager March 1, 2013 Citadel Servicing has raised $200 million in capital to originate residential subprime mortgages. Does this mean subprime lending is "back"? Answer: yes and no. Read More
The Sequester Effect: FHA Services Will Slow February 28, 2013 George Brooks FHA staff could be furloughed if the federal sequester happens Thursday night.Read More
Short Takes: Wells Hires Someone to Manage JVs / Cordray Will Be Confirmed? / Ocwen Posts Results but Analysts are Not Impressed / HUD Writing its Own QM Rule for FHA Loans February 28, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler Wells Fargo has not given up on mortgage lending JVs after all and has hired someone to manage them.Read More
QM Could Survive Ruling That Overturns Cordray Appointment February 27, 2013 Thomas Ressler The "Qualified Mortgage" rule will survive any legal testing of the authority of CFPB chief Richard Cordray.Read More
Short Takes: The Dwindling JV Empire of Wells Fargo / More Layoffs for Foreclosure Review Specialists? / Where Are Fannie’s Earnings? / Vericrest is Hiring February 27, 2013 Paul Muolo Wells Fargo says it is committed to its remaining joint venture lending partners but isn't giving out any names on the JVs.Read More
JPM Will Slash Mortgage Staff, Sells MSR Platform to Wingspan February 26, 2013 Paul Muolo JPMorgan Chase will slash thousands of mortgage workers over the next 20 months.Read More
Nationstar CFO David Hisey Will Earn at Least $1.375 Million February 25, 2013 Paul Muolo Nationstar Mortgage signs a new employment contract with one of its top executives, CFO David Hisey.Read More
Short Takes: The Myth Surrounding Redwood’s Delinquencies / Jumbo Loan Prices Red Hot / $30,000 a Year in Flood Premiums? / GSEs Paying Their Subservicers How Much? February 25, 2013 Brandon Ivey and Paul Muolo Jumbo loan prices are red hot.Read More
For Almost Nothing Walter Gets $12 Billion in Annual Production? February 19, 2013 Paul Muolo Walter Investment is buying the residential origination platform of Ally Bank for next to nothing.Read More
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