M&A Activity Largely Focused on Servicing April 9, 2024 Paul Muolo “The producers move over to a new firm and that’s it — that’s the M&A activity,” said David Fleig, who runs MorVest Capital, a servicing advisory firm.Read More
Short Takes: Rocket Speeds Loan Process With AI / AI Officer at FHFA / Pretium Affiliate Wins NPL Auction / CMBS Investor Changes Hands April 9, 2024 Brandon Ivey Rocket plans to offer its AI platform to other companies later this year.Read More
Short Takes: FHFA to Improve Exam Practices / Better Taps Real Estate Agents / Doma Plans to Go Private / Pending Home Sales Up Slightly March 29, 2024 Brandon Ivey FHFA is working on internal guidance to improve its exams of nonbank mortgage companies.Read More
For Sale: MSRs With a Delinquency Rate North of 5% March 27, 2024 Paul Muolo The delinquency rate on the conventional loans is 5.23%.Read More
Guild Pays $13.4 Million for Academy Plus Earn-Out March 15, 2024 Brandon Ivey Guild held off on disclosing the purchase price for Academy Mortgage until filing its annual report.Read More
Short Takes: Cyber Attack to Cost loanDepot at Least $12 Million / Mortgage Applications Decline / Home Prices Up in December / Sales of New Homes Increase / Pretium Sells a Stake February 28, 2024 Brandon Ivey Insurance won't fully cover loanDepot's expenses from a cyberattack that occurred in January.Read More
Short Takes: Treasury Focusing on Property Insurance Costs / Chase Stocks MBS With HELOCs From Nonbanks / Great Ajax Turns to Rithm / KBW Sees Upside in GSE Stock February 27, 2024 Brandon Ivey The roundtable hosted by the Treasury focused on how the increased risks from climate change are affecting insurance markets.Read More
Up for Grabs: A $3.1B MSR Package, Dominated by California Product February 20, 2024 Paul Muolo The portfolio is top heavy in California product...Read More
Academy Purchase Will Add 600 LOs, 200 Branches to Guild’s Empire February 14, 2024 Paul Muolo In late 2022, Academy agreed to pay $38.5 million in damages to resolve allegations it violated the False Claims Act.Read More
Cardinal, Others Test the MSR Sale Waters February 12, 2024 Paul Muolo Increasing prepayment speeds shouldn’t mar the servicing asset in the current quarter...Read More