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What We’re Hearing: Sale of CashCall Falls Apart? / MBS Issuance Takes a Tumble / About That $28.6 Billion Freddie Mac DTA… / Subprime Bankers Warn on U.S. Default / Cherry Hill REIT Goes Public, Stock Falls / Mortgage Applicants Take to Craigsl

October 4, 2013
Paul Muolo
Has Paul Reddman given up trying to sell CashCall, the refi specialist? Meanwhile, MBS issuance got whacked in the third quarter.
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Short Takes: There Goes the Stock Market, Maybe Jumbos Too / Oh, and the Homeownership Rate? Kiss That Goodbye Too / PennyMac Faces Stiff Competition in Correspondent / CoreLogic Sees Home Prices Rise But Offers Caution / SunTrust Cuts Buyback Deal

October 3, 2013
Paul Muolo and Charles Wisniowski
The U.S. homeownership rate fell to 63.9 percent in 2012, according to figures compiled by the Census Bureau through its “American Community Survey.” In case you’re keeping tabs, it’s the fifth year in a row that the rate has gone south.
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Short Takes: How Bad is the Mortgage Job Picture? We Won’t Know / FICO Scores Headed South for Government Workers? / Redwood Wants Gradual Easing of GSE Loan Caps / New Penn Unveils Mini-Correspondent / SEC Goes Easy on Enforcement?

October 2, 2013
Paul Muolo, George Brooks, and Brandon Ivey
As the government shutdown continues and many federal workers go without pay checks, there’s a growing concern that these potential borrowers will see their credit scores get dinged.
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Short Takes: What Government Shutdown? Senate Panel Meets on Non-Agency Market / CashCall Offering a 2.99 Percent Mortgage / Stonegate Updates IPO Filing / How to Best Loosen Mortgage Credit? / Mark Korell Returns to Mortgage Banking

October 1, 2013
Paul Muolo, Brandon Ivey, and Charles Wisniowski
Is refi specialist CashCall still on the auction block? It’s hard to say since the company doesn’t return telephone calls about the matter.
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Short Takes: GSE Loan Limit Announcement Coming… / Kyle Bass Likes PennyMac / Will PennyMac Issue an NPL MBS? / Investors Gobble Up Nationstar Paper / MBA Chief Economist Stepping Down

September 30, 2013
Paul Muolo
The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.
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What We’re Hearing: FHA Admits It Will Need Bailout / Mortgage Rates May Go Sky High / Beware Small Business Owners Located Near National Parks / Why Can’t Anyone Else Raise Money for Subprime? / Flagstar Working on Another MSR Deal

September 27, 2013
Paul Muolo
If the U.S. defaults on its debt payments, will mortgage rates go sky high? Meanwhile, will JPM rescure FHA?
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Short Takes: Non-Agency Lender Citadel Goes to 80 Percent on LTV / HUD Readies for Government Shutdown / CSP Employees Will Commute to Wealthy Maryland Suburb / Hensarling a True Believer in the PATH Act / Tech Vendor Wipro Gallagher Launches New LO Produ

September 25, 2013
Paul Muolo, George Brooks, and Brandon Ivey
Citadel Servicing CEO Dan Perl said "the phones are ringing like a son-of-a-gun" at his nonprime lending shop.
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Citi Cuts 1,000 Mortgage Workers, Won’t Rule Out More Layoffs

September 24, 2013
Paul Muolo
The bloodletting in Citigroup's mortgage division may just be starting.
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Citi Latest Megabank to Cut Mortgage Jobs: 1,000 Get Pink Slips

September 23, 2013
Paul Muolo
Citi handed pink slips to 1,000 mortgage workers on Monday. It appears that some loan officers were let go.
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What We’re Hearing: Lower GSE Loan Limits Effective End of 1Q? / A Nonbank Offering Stand-Alone Seconds / More Jumbo Lenders Go to 10 Percent Down / Wells Fargo Still In Love With Mortgages? / Wingspan Spreads its Wings Again

September 20, 2013
Paul Muolo
The implementation date for lower GSE loan limits is being shifted to the end of the first quarter, or so we hear. Meanwhile, Citadel enters the market for stand-alone seconds.
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