Short Takes: Quicken Overtakes JPM as the Nation’s #2 Lender? (Not Likely) / What Does Jamie Dimon Like Less, Brokers or the FHA? / BofA Cuts New Repo Deal for PennyMac / Earnings Due Soon from MGIC, Radian, Others July 15, 2014 Paul Muolo and Sherry Muolo Here’s a question to ponder: what does Jamie Dimon like less? Loan brokers or the FHA? Read More
Mortgage Banker with a ‘Substantial’ MSR Portfolio Unloading Some of its Holdings July 9, 2014 Paul Muolo Over the past six months, many nonbanks have moved to sell MSRs as a way to remain cash flow positive in a tough origination market.Read More
PHH Will Invest $350 Million in Mortgage Unit, but Outsourcing and Layoffs Ahead July 8, 2014 Paul Muolo Will PHH sell its mortgage division this year? Don't bet on it. But it will spend millions on a company restructuring.Read More
Walter Sells Excess Servicing Strip for $75 Million July 7, 2014 Paul Muolo York Capital is backing Walter Capital Opportunity Corp., the buyer of the excess MSRs.Read More
Will FHFA Capital Rules for Nonbank Servicers Alter the MSR Purchase Market? July 2, 2014 Paul Muolo Nonbank capital rules from the FHFA will add certainty to the MSR market, but there will plenty of indigestion along the way.Read More
Servicing Advisor Phoenix Capital Buys Whole Loan Trader July 2, 2014 Paul Muolo Phoenix Capital said it has worked with Steel Mountain executives on different projects for 20 years.Read More
FHFA Spearheading Effort on Capital Standards for Nonbank Servicers July 1, 2014 Paul Muolo But it’s not just talk of capital standards for nonbanks that has some in the industry spooked – it’s the issue of what constitutes capital.Read More
Mortgage M&A Heats Up: Sale of CTM Nears; HomeStreet Sells $3B of MSRs; MIAC Active July 1, 2014 Paul Muolo There has been plenty of talk about mortgage M&A, and now it appears that deals are finally happening. Read More
MSR Values at Roughly Two-Times Historical Levels; a $50B Auction Coming? June 30, 2014 Paul Muolo To participate in the MSR market, institutional investors must partner with licensed and compliant servicers.Read More
Vantium Capital Awarded Servicing of Bankrupt Mortgage Firm June 30, 2014 Paul Muolo The downfall of Community Home is intriguing: the servicer closed its Jackson office and had customers send payments to Las Vegas. From there, payments were sent to a location in Costa Rica, according to AP.Read More