Finance of America Says Restructuring Could Cost Upwards of $164 Million October 24, 2022 Paul Muolo In the third quarter, FoA funded an estimated $2.6 billion of mortgages, 66.7% of it through retail means.Read More
Coming Soon: Layoffs and Branch Closings at Finance of America October 21, 2022 Paul Muolo FoA recently sent a “branch offboarding information” form to all its branch managers, setting the table for large-scale cutbacks.Read More
Truist Mortgage Chief Moves On October 21, 2022 Paul Muolo Truist ranks 13th overall among originators based on first-half 2022 figures...Read More
This Year, CSBS Expects No LO Renewal Snafus October 21, 2022 Sam Manas The organization also increased the number of servers to 40 from just six last year...Read More
Short Takes: Prepping for Branch Closures / Would You Like to Keep the Copier? / A Stronger Profit for Texas Capital / Coming Soon: loanDepot’s 3Q22 Results October 20, 2022 Paul Muolo Finance of America is preparing to close retail branches outright...Read More
Short Takes: NDM Hires Former loanDepot Wholesale Manager / Also… / More Stock Sales by LD Insiders / Job Losses at Clear Capital / A Sudden Departure at Ally / Tozer Weighs In October 18, 2022 Paul Muolo and Monica Hogan Insiders at loanDepot keep unloading shares...Read More
Short Takes: The Challenge Ahead / Fitch: The MSR Gravy Train May End / FoA, What’s Left? / A Blackstone Company / More Cuts at AO October 12, 2022 Paul Muolo Finance of America went public at $10.00 a share in the spring of 2021, courtesy of its owner, the Blackstone Group...Read More
Short Takes: About That Housing Bubble / Which States? / Reserve Accounts? / Stop Moping and Start Selling / Cornerstone Completes Acquisition October 10, 2022 Paul Muolo Too much demand and not enough supply meant no housing bubble. Both those days are in the rearview...Read More
loanDepot’s Capital Markets Chief Continues to Sell Shares October 7, 2022 Paul Muolo Like most home lenders, loanDepot is in the throes of right-sizing its operations...Read More
Short Takes: 4,000 Mortgage Jobs Disappear / Brokers Hiring? / LO to Broker? / loanDepot Trims Funding Lines / A New CTO for Xome October 7, 2022 Paul Muolo It appears that loan brokerage firms added jobs...Read More
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