Green Shoots: Investor Agrees to Buy $13B of MSRs August 26, 2021 Paul Muolo For servicing auctions to truly proliferate, the Federal Reserve would need to end its stimulus program. In other words, if rates don’t rise much from here, deal volume could be muted. Meanwhile, buyers with cash are waiting.Read More
Grapevine: Getting Leaner: Mr. Cooper August 26, 2021 Paul Muolo As the refi boom begins to wane, nonbank mortgage giant Mr. Cooper is paring certain business lines. Should other lenders follow suit?Read More
loanDepot Secures Borrowing Facility with Bank of America August 26, 2021 Paul Muolo The credit line, in the form of a master repurchase agreement, was signed on Aug. 20 and expires Sept. 27.Read More
Short Takes: Leveraging Cash for Non-QM Lending / AO’s REIT Trading in a Tight Range / Eye on Rates / Robust MSRs / Alterra Gets a New President August 26, 2021 Paul Muolo and Brandon Ivey Non-QM lender Angel Oak is looking to crank up originations...Read More
Home Point Hit With Multiple Downgrades by Fitch. MSRs May Be Sold August 25, 2021 Paul Muolo The nonbank is contemplating selling some of its MSRs...Read More
As Summer Comes to An End, Applications Rise August 25, 2021 Paul Muolo The FHA share of total applications increased to 11.0% of the pie compared to 9.4% the week prior...Read More
Short Takes: Mortgage Discounts for Vaccine Recipients / Customers Sells Debt / Warehouse Lender Active in Crypto Market / What’s Riskier? / A Promotion at Deephaven August 25, 2021 Brandon Ivey and Paul Muolo Another warehouse lender active in the digital/crypto space is Silvergate Bank of California...Read More
Mr. Cooper Reveals Potential Stock Sales by Chairman/CEO August 24, 2021 Paul Muolo The 10b5-1 plan was designed to comply with SEC rules and the lender's insider trading policies and guidelines.Read More
New Tally Offers More Proof of a Decline in Lending Profits August 24, 2021 Paul Muolo Say it ain't so, Joe: Origination profits per loan continue to decline...Read More
Short Takes: Caliber Changes Hands / Das Will Stay, Gets CEO Post / Final Sale Price? / Over-Hyped Digital / In Some Cases, No Online Tools Used August 24, 2021 Paul Muolo and Dennis Hollier COVID-19 doesn’t appear to have digitized the mortgage process as much as some believed.Read More