It’s Official: PIMCO’s Mortgage Firm FGMC Goes BK, Creditors Line Up June 30, 2022 Paul Muolo In the bankruptcy documents, PIMCO is listed as 100% owner of FGMC...Read More
Short Takes: In PIMCO We Trust? / Customers Bank Tops Creditors List / 11 v. 7 / The Industry’s Reaction (More Closings Anticipated) June 30, 2022 Paul Muolo Can FGMC rise from the ashes of Chapter 11? The odds might be steep.Read More
FGMC Finally Addresses Layoffs, Says It’s Still Funding Loans June 29, 2022 Paul Muolo PIMCO bought into First Guaranty almost seven years ago...Read More
2Q22 is Almost Over. Servicing Markups? Anyone? June 29, 2022 Paul Muolo One advisor noted: "If you want to go higher now you can, but the dynamics justifying it may not last much longer.”Read More
Short Takes: Keeping a Low Profile / MSR Auctions From Prestwick, Phoenix / Ocwen Stays MSR Hungry / Valladares Lands at Angel Oak June 29, 2022 Paul Muolo PIMCO's next move in mortgages? Stay tuned...Read More
PIMCO Gets Picky on Non-QM Yields June 28, 2022 Paul Muolo PIMCO — which last week slashed the workforce of its mortgage company FGMC to the core — declined to comment...Read More
Deephaven Readies a New Nonprime MBS…With Seasoned Collateral June 28, 2022 Paul Muolo The servicer of record is Shellpoint...Read More
Short Takes: Wither Housing Values? Probably Not / Fewer Bidding Wars / An S&D Auction From RAMS / Ginnie Mae EBOs, an Update June 28, 2022 Paul Muolo Up for grabs: $125 million of S&D paper from RAMS...Read More
Major Cutbacks at PIMCO-Owned FGMC June 27, 2022 Paul Muolo Up until recently, PIMCO was an active buyer of non-QM loans...Read More
Short Takes: A Mortgage RIF at JPM? / WARN What? / Bidding on MSRs / A New Jumbo Deal / Greystone Hires FRB Banker as New CEO June 27, 2022 Paul Muolo JPM is working on a new jumbo MBS deal with loans supplied by UWM...Read More