Short Takes: Which Shops Received Subpoenas? / Not Just the Top Dogs / What Ginnie MBS Investors Hate: Fast Prepays / Ocwen’s Challenges / Lending Can Be Expensive May 8, 2019 Paul Muolo The loan application losing streak has ended!Read More
Bank Mortgage Profits Improve. However… May 8, 2019 John Bancroft While most banks posted improved revenue from the previous quarter, seven reported declining profitability...Read More
Freedom in Serious Talks to Buy RoundPoint Mortgage May 8, 2019 Paul Muolo With RoundPoint Mortgage under its belt, Freedom would crack the top-10 ranking of residential servicers...Read More
At Ocwen, the Red Ink Continues to Flow … But MSR Purchases Pick Up May 7, 2019 Paul Muolo Ocwen's originations were anemic at $353 million in the quarter. Read More
Loan Brokers Add Jobs, Mortgage Bankers Cut May 6, 2019 Paul Muolo Although the overall job market is strong, all is not well in the mortgage industry. Maybe next month will be better...Read More
The GSE Credit Box Opens Up, Ever So Slightly May 6, 2019 John Bancroft For Fannie and Freddie, it was the highest concentration of low-score/high-LTV loans over the past five years... Read More
Wells Kicked Off its Pedestal as Top Issuer of Agency MBS May 3, 2019 John Bancroft Where Wells Fargo is no longer number one: Monthly MBS issuance...Read More
PennyMac Posts $46.1 Million in Net Income for 1Q. Originations Down, Servicing Up... May 3, 2019 Brandon Ivey PennyMac founder and Executive Chairman Stan Kurland: "While the correspondent market remains competitive, margins appear to be stabilizing as they were essentially unchanged from the prior quarter at 29 basis points..."Read More
The 1Q19 Servicing Picture: Consolidation, Structural Changes Shaping Industry May 2, 2019 John Bancroft Wells Fargo continues to dominate the servicing arena with a market share of 13.5%, almost double its closest competitor...Read More
Short Takes: Freedom Mortgage to Cherry Hill: We’re Done / But Why? / CEO’s Mansion Has Nine Bathrooms / A Loss at Mr. Cooper Tied to Negative MSR Marks / Flagstar Gets a Secondary Marketing Chief May 1, 2019 Brandon Ivey and Paul Muolo Officials at Mr. Cooper said the loss was primarily driven by a negative $293 million net fair value mark on mortgage servicing rights.Read More
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