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OCC Raises Concern on Bank Oversight of Appraisal Management Companies

September 12, 2013
Paul Muolo
Banking regulators are showing new concerns about appraisal management companies, especially those owned by depositories.
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Mortgage Layoff Carnage Just Beginning: Wells Sees Huge Decline in Volume, BofA Layoffs

September 10, 2013
Paul Muolo
At an investor conference in New York this week, officials from Wells Fargo predicted that residential originations at the bank will fall 30 percent this quarter on a sequential basis.
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Short Takes: Loan Officers Spared From Layoffs, For Now / Sierra Pacific Mortgage Gets Aggressive in Retail / Loan Brokers Suffer Again? / CoreLogic Says Fewer Homes Underwater / Flood Insurance Premiums Could Clobber Vacation Home Market

September 10, 2013
Paul Muolo
Mortgage loan officers have been spared from lay-offs. But how long will it last? Brokers get dismissed again?
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What We’re Hearing: Cole Taylor Deal Closer, Firm Bids on MSRs / A 15% Downpayment Jumbo From Wells Fargo / Servicers Rejoice on Higher Rates / Apps Fall 70 Percent at Some Shops / Mortgage Hiring Not So Hot / Trying to Time the IPO Market

September 6, 2013
A 15 percent downpayment mortgage from Wells Fargo? It's true. Cole Taylor sale moves closer. Mortgage jobs head south.
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Michigan Mutual Cuts Mortgage Workers, Others May Follow

September 5, 2013
Paul Muolo
Michigan Mutual is the latest mortgage lender to announce cut-backs in its processing staff.
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Short Takes: Cole Taylor Mortgage Sale Moves Closer / Wells Likes Rich Mortgage Borrowers Better Than Joe Sixpack / Credit Unions Gamble on Holding 30-Year FRMs / Former E-LOAN CEO Joins Raj Date’s New Firm / When Might National MI Go Public?

September 5, 2013
Brandon Ivey and Paul Muolo
Look for an update late Thursday on the sale of Cole Taylor Mortgage. Meanwhile, does anyone care that credit unions are holding 30-year jumbo mortgages in portfolio?
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Former Wells Lobbyist, FM Watch Honcho Bracken Launches Consumer (Mortgage) Trade Group

September 4, 2013
Paul Muolo
America’s Homeowner Alliance said it will defend low downpayment loans and the mortgage interest deduction.
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Short Takes: Carrington Wants Ginnie MSRs / Allonhill Deal Was an Asset Sale, an Important Distinction / Applications Finally Head North / CFPB Promotes Antonakes / S&P Fights Back Against Uncle Sam

September 4, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Carrington Mortgage is in the market to buy residential servicing rights. Meanwhile, the mortgage application losing streak has ended.
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Short Takes: The Coming Bonanza in NPL Sales / Auction.com Sees Strong Revenue Growth / Rep. Hensarling Takes Aim at CFPB / Prestwick Selling MSRs / It’s Official: Allonhill Sold to Stewart Title

September 3, 2013
Paul Muolo and Charles Wisniowski
As reported by IMFnews late last week, Stewart Title is buying Allonhill, a due diligence firm based in Denver. Meanwhile, look for billions of dollars in NPL sales soon.
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As Rates Rise Residential Lenders and Servicers Cut Heads

August 30, 2013
Paul Muolo
Many mortgage firms are hoping that a huge surge in purchase-money deals will compensate greatly for the declining refi market and that layoffs at their shops will be avoided.
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