Short Takes: Strong Demand for Mortgage Chief Operating Officers? / Lenders Without Budgets are Less Profitable / Ocwen Turned Down a Good Bid / A CEMA Tale and BofA April 28, 2015 Paul Muolo Recruiter Rick Glass said the thirst to hire high-caliber mortgage COOs is coming from lenders that “want to move to the next level.”Read More
Prestwick Selling Flow Servicing from the Mid-Atlantic April 27, 2015 Paul Muolo The bid deadline is May 12 and according to Prestwick, the seller wants to “start deliveries as soon as possible.”Read More
What We’re Hearing: Ocwen Decides to Keep its Ginnie MSRs / What Will a Borrower See When It Googles Ocwen’s Name? / Quicken Gets Hit in the Mouth With a Fastball / More Red Ink for Stewart Title April 24, 2015 Paul Muolo Grid Financial consultant Paul Hindman is a true believer in brokers as is Mat Ishbia of United Wholesale Mortgage.Read More
Altisource Earnings Plunge 90 Percent, Cost Cutting Ensues, Including Layoffs April 23, 2015 Paul Muolo Most of Altisource's business is tied to Ocwen, which is in the process of ridding its servicing portfolio of agency loans.Read More
Short Takes: Some Lenders Think Mortgage Counseling is a Waste of Time / Credit Suisse Readies New Jumbo Deal / Originations Rise Slightly at BB&T / More MSR Deals / DocMagic Rolls out TRID Service April 23, 2015 Brandon Ivey and Paul Muolo The top contributor to the new Credit Suisse jumbo deal is New Penn, which is controlled by MBS co-inventor Lew Ranieri.Read More
Interactive Mortgage Advisors Unveils Two New MSR Deals April 22, 2015 Paul Muolo On IMA’s other deal, the brokerage firm is offering $100 million per month of Fannie Mae/Freddie Mac “flow” product.Read More
Wall Street’s Return to Mortgage Lending: Blackstone Buys a Residential Lender April 22, 2015 Paul Muolo Is Blackstone's purchase of a mortgage lender a "one-off" deal or will other Street firms follow suit?Read More
Cherry Hill Receives $25 Million Loan to Obtain Leverage on Excess Servicing April 21, 2015 Brandon Ivey Earlier this year Cherry Hill agreed to buy Aurora Financial Group and its $700 million servicing portfolio for $4 million. Included in the purchase was Aurora’s agency approvals.Read More
What We’re Hearing: Concern Over LPMI Discounting? / RoundPoint Still Hunting for a Suitor / A Book out on Seterus? / When Fannie Almost Bought Litton / loanDepot Claims It’s Among the Fastest April 17, 2015 Paul Muolo If Fannie Mae bought a servicing platform Congress, of course, would blow a gasket...Read More
Texas Depository Purchases 15-Year-Old Nonbank Mortgage Firm April 16, 2015 Paul Muolo In general, depositories have not been active buyers of mortgage companies, though that’s starting to change somewhat. Read More
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