Scratch-and-Dent Prices Healthy. But Are They Too High? February 10, 2022 Paul Muolo Prices paid for scratch-and-dent loans are favorable these days, favorable for sellers, that is.Read More
Unison Plots Growth in Home-Equity Sharing February 10, 2022 Paul Muolo Another way to bet on housing? The securitization of residential equity agreements is in its infancy. Does it have legs? Unison certainly hopes so.Read More
A Slightly Lower Profit for Freddie. Note: Higher Credit Expenses February 10, 2022 Paul Muolo and Dennis Hollier Although earnings slipped, net revenues increased to $5.57 billion from $5.25 billion in 3Q21.Read More
Short Takes: Of Rates and Margins / Mortgage Stocks? / loanDepot Undervalued? / Slighted by Michigan? / Goldman’s Unique MBS February 10, 2022 Paul Muolo and Brandon Ivey Why would Michigan workers place a bet on California-based loanDepot and not UWM or Home Point?Read More
A Boom With Little Precedent: MSR Sales February 10, 2022 Paul Muolo Sales of mortgage servicing rights have been nothing short of stunning the past five quarters. Can the good times last? Yes, if prepayment speeds cooperate.Read More
Freddie Mac Posts 4Q21 Net Profit of $2.7 Billion February 10, 2022 Paul Muolo and Dennis Hollier But credit-related charges at the mortgage giant went from $194.0 million in the third quarter to $604.0 million in the fourth quarter.Read More
A Foreign Bank Throws in the Towel on Mortgages February 10, 2022 Paul Muolo Good news/bad news: Spanish bank Santander is staying in America — but it’s exiting mortgage finance.Read More
Whole-Loan Prices for Non-QMs Slip... February 9, 2022 Paul Muolo The lower pricing means MBS deals can still get done, but non-QM originators will be forced to raise their rates to make the numbers work.Read More
Up for Grabs: $11.5 Billion of Fannie/Freddie MSRs February 9, 2022 Paul Muolo Sellers of mortgage servicing rights are striking while the iron is hot.Read More
Approaching a 4% Conventional Mortgage, Applications Fall Again February 9, 2022 Paul Muolo Might we see a 5% conventional mortgage by yearend?Read More