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
An MSR-Related Loss for Rithm, GOS Falls to Low for the Year February 7, 2024 Paul Muolo Rithm is in the process of buying Specialized Loan Servicing. The sale should close by March 31.Read More
Now Open for (Certain) Nonbanks: The Debt Market February 5, 2024 Paul Muolo One thought: Nonbanks will use the cash to purchase MSRs from federally insured depositories...Read More
The Walton-Controlled Arvest Offers $9.4B in MSRs January 29, 2024 Paul Muolo A bank spokeswoman noted that Arvest only sells "purchased" mortgage servicing rights...Read More
ICA Hits the MSR Auction Circuit With a $9.4B Deal January 18, 2024 Paul Muolo ICA is working on roughly $50 billion of MSR deals...Read More
Sizing Up MSR Buyers Early in the Year January 8, 2024 Paul Muolo In general, JPM’s modus operandi is to take down large-sized portfolios north of $10 billion...Read More
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