Surprise: PennyMac Financial Declares a Dividend. That’s Right November 1, 2019 Paul Muolo In 3Q19, PennyMac Financial Services, the nation’s fifth largest home lender, earned a record $121.9 million.Read More
FHA/VA Late Payments Edge Higher October 28, 2019 Paul Muolo Meanwhile, depository institutions shrank their Ginnie MSR by 1.9% during the third quarter.Read More
HUD Unveils MOU With DOJ, Will Rely Heavily on Administrative Proceedings Regarding FHA Claims October 28, 2019 Paul Muolo In a TV interview, HUD Secretary Ben Carson noted: “We love the non-depository lenders but we want to normalize the market.”Read More
What We’re Hearing: Surprise: $700 Billion / That Was Then, This is Now / A Head Fake? / Born Again via Receivership or Conservatorship? / Don’t Bet On It / Stearns Exec Bolts for CMG Mortgage October 25, 2019 Paul Muolo And now for the big question: Where do we go from here?Read More
Vets Find H.R. 3504 Hard Pill to Swallow October 25, 2019 George Brooks The temporary measure is expected to generate billions of dollars in VA funding fees between Jan. 1, 2022, and Oct. 1, 2027. It would offset new direct spending by $86 million over the five-year period.Read More
In the Regulatory Spotlight Once Again: VA IRRRL Abuses October 21, 2019 Paul Muolo The Collingwood Group released an update to clients and others, detailing the matter at hand.Read More
Ginnie Mae Has No President at All. Is That a Problem? October 18, 2019 Paul Muolo Maren Kasper graciously lauded the career staff of Ginnie, telling investors the agency is in good hands… Read More
Short Takes: Ginnie’s Kasper Takes Her Bow / Discovering Japan? (Appleton) / Better Times at Better.com (And a New Hire) / DocMagic Launches Mobile App / Exec Departs Caliber for Flagstar October 17, 2019 Paul Muolo Mortgage “fintech” specialist Better.com is hitting the ball out of the park these days on originations. Better is based in New York...Read More
VA Completes a Gargantuan Task: $400M in Refunds Over Two Decades October 17, 2019 George Brooks Some of the improper fee charges were blamed on clerical errors…Read More
Wow: Nonbank Share of Agency Servicing Market Tops 47% October 17, 2019 John Bancroft Fun fact: Over the past five years, the nonbank share of the agency servicing market has almost doubled and now stands at 47.2%...Read More
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