Ocwen Eyeing $375 Billion in Acquisitions, Reports Record Revenue May 2, 2013 Brandon Ivey Thanks to its servicing business, Ocwen posted strong earnings in the first quarter but questions have been raised about its gain-on-sale margin.Read More
IMA Finds Buyer for $12.7B of MSRs, Floats Another Large Package May 2, 2013 Paul Muolo The bulk servicing market is showing signs of heating up: IMA has two deals totaling $23 billion in the works. Read More
Short Takes: PHH Sees Its Gain-on-Sale Drop / Flippers Say Viva Las Vegas and Orlando Too / Auction.com Sells Apartment Buildings in Competitive Bid / Treasury Comes Clean on HAMP / Sen. Corker Uncorks May 2, 2013 Brandon Ivey and Paul Muolo PHH Mortgage saw its gain-on-sale margin decline but it marked up the value of its MSRs.Read More
Denver Nonbank W.J. Bradley Does Roll Up Deal with Washington Lender May 1, 2013 Paul Muolo W.J. Bradley isn't necessarily buying Legacy Group Lending, but the two firms are combining forces. Read More
SunTrust Mortgage Executive Seth Sprague Departs April 30, 2013 Paul Muolo Sprague, a veteran of SunTrust, Bank of America, and Matrix Capital, has joined Phoenix Capital. Read More
Cole Taylor Will Continue to Buy MSRs, New Call Center About to Open April 29, 2013 Paul Muolo Cole Taylor Mortgage, which has grown its servicing portfolio ten-fold in the past year, is now an active Ginnie Mae issuer. Read More
IMA in the Market with a $900 Million Flow MSR Deal April 29, 2013 Paul Muolo The "flow" market for mortgage servicing continues to improve. IMA is in the market with a new package and others are on the way. Read More
What Were Hearing: What Happened at that White House Mortgage Meeting? / GSE Net Worth May Double / Market Share to Shift to FHA? / Largest Decliners in Fundings Use Brokers / Whats Next for CashCall? April 26, 2013 The White House wants to change the HARP eligibility date, making more underwater borrowers eligible for the program, Inside Mortgage Finance has learned. Read More
Originations Flat at EverBank in 1Q, But Thrift is Ready to Part With Jumbos April 25, 2013 Paul Muolo EverBank funded $2.9 billion of home mortgages in the first quarter, a bit below one estimate of $3.3 billion.Read More
Michael Laus Pingora Buys Delaware Mortgage Banking Firm April 24, 2013 Paul Muolo Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm. Read More