A Slight Increase for Nonprime Servicing Balances March 15, 2023 Brandon Ivey Credit Suisse’s Select Portfolio Servicing was the largest nonprime servicer, by far, at Dec. 31, with $141.0 billion...Read More
Warehouse Volumes Suffer as Profitability Wanes March 14, 2023 Paul Muolo As one financier put it: “I’d estimate 20% to 25% of my lenders missed their profitability covenants"...Read More
Another Downturn in Ginnie Issuance March 14, 2023 Monica Hogan Among the top 10 Ginnie issuers for the month, just one was a federally insured depository: U.S. Bank...Read More
The Lone Origination Bright Spot for 2022: Expanded-Credit March 13, 2023 Brandon Ivey The top three expanded-credit lenders in 2022: Citibank, Angel Oak and Guaranteed Rate...Read More
In a Tight Contest, Fitch Edges Kroll in RMBS Ratings March 13, 2023 John Bancroft S&P was the top rating service in vehicle ABS with a 38.9% share.Read More
Down Once Again: REIT Holdings of MBS March 10, 2023 John Bancroft While it leaned away from MBS, Annaly continued to grow its portfolio of MSRs...Read More
The Mortgage Layoff Total for January: 5,000 March 10, 2023 Paul Muolo In January of last year, mortgage banking shops employed 280,900 — or 46,500 more.Read More
Short Takes: Guaranteed Rate Loses DM Bolan / Crypto Customers? That’s a Problem / SVB Goes Down / Guild Posts a Rare Loss but Is Seeking Deals / Angel Oak’s General Counsel Ready to Depart March 10, 2023 Paul Muolo Angel Oak's general counsel is departing at the end of April...Read More
More Red Ink for loanDepot, GOS Slips to 145 BPs March 9, 2023 Paul Muolo The Irvine, CA-based lender/servicer — like most originators — has been slashing staff and other costs...Read More
Subservicing Growth Tepid in 4Q22. A Temporary Lull? March 8, 2023 Paul Muolo Data point: Roughly 31% of all residential loans are subserviced by a vendor that doesn't own the servicing "strip"...Read More
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