Short Takes: Two Mid-Sized Nonbanks on the Auction Block / Buying GSE Stock is Not for the Faint of Heart / Underwater Homes Decline / Mortgage Master Expands Again / CFPB Brags About its Nonbank Supervision June 12, 2013 Paul Muolo and Charles Wisniowski The M&A rumor mill continues to spit out names. An offering book is circulating on CashCall and at least one other shop, IMF has learned.Read More
MSR Values Rise In First Quarter, More Increases on the Way? June 10, 2013 John Bancroft Thanks to rising interest rates, the book value of mortgage servicing rights increased in the first quarter. Could more sales be on the way? Read More
Prices Paid for MSRs Hit Four-Times the Servicing Fee June 10, 2013 Paul Muolo When interest rates rise, so do the value of mortgage servicing rights.Read More
Walter Investment to Restate RMC Financials Due to Servicing Errors June 10, 2013 George Brooks In a new filing with the SEC, Walter Investment said it discovered that its new reverse subsidiary had failed to record certain servicing errors. Read More
Investor Appetite for Vintage Non-Agency MBS Still Strong, Returns High June 7, 2013 Brandon Ivey Thanks to rising home values and lower delinquencies, investors are gobbling up subprime MBS, causing prices to rise.Read More
What Were Hearing: Pacific Union Mortgage Cuts Staff / New York Slow Like Molasses on LO Approvals / Jeff Schaefer Joins Cerberus / The Corker-Warner Bill and the TBA Market / FHFA Ready to Hire a CSP Chief? June 7, 2013 Don't put too much stock in the new government figures on mortgage hiring. Some firms are cutting back like Pacific Union Financial. Read More
MountainView Offering Just Over $2 Billion in MSRs June 5, 2013 Paul Muolo The MSR sales machine is cranking up at MountainView. Read More
Cole Taylor Buys $600 Million of MSRs From Liberty, Will Build Platform June 4, 2013 Brandon Ivey and Paul Muolo Cole Taylor Mortgage is getting serious about the servicing business. It purchased a portfolio from Liberty Savings and plans to start its own in-house platform.Read More
Short Takes: Will Ellington Go on a Purchase Tear Under Abreu? / Jumbos Remain Hot / Stonegate Unveils New Jumbo Loan / Bank ABS Holdings Fall Slightly / Broker Employment Shows Signs of Life June 4, 2013 John Bancroft and Paul Muolo Ellington Management under new mortgage chief Steve Abreu may go on a purchase tear, rolling up companies.Read More
Nationstar Using Merrill for Unsecured Debt, May Buy More MSRs from BofA June 3, 2013 Paul Muolo It looks like a sweet deal for Nationstar: Merrill Lynch helps sell its unsecured debt and then off loads some of its legacy MSRs to the nonbank.Read More