Mortgage Applications Continue to Head in the Right Direction July 15, 2020 Paul Muolo Overall, refinances accounted for 64.2% of new business compared to a reading of 60.1% the week before. The trade group’s purchase index decreased 6.0%Read More
Short Takes: Buying on the Cheap / JPM’s Forbearance Numbers / A Good Production Quarter for FRB / Retaining Top Talent at Quicken July 14, 2020 Paul Muolo Quicken has received high marks from some industry pundits for doing a good job of retaining top talent... Read More
The COVID Quarter: 2Q Originations Up at Wells, Down at JPM July 14, 2020 Paul Muolo Wells posted a 204 basis point held-for-sale production margin, up an impressive 96 bps from 1Q20... Read More
A Noticeable Drop in Ginnie Forbearance but ‘Buyouts’ Affect the Equation July 13, 2020 Paul Muolo The Fannie Mae/Freddie Mac measurement came in at 6.07%, down 11 bps, the fifth consecutive decline.Read More
Short Takes: The Dickens Equation / Infections and Recovery / KBW Expects Good Things / In Forbearance but Making the Payment / A New CFO for Civic Financial July 13, 2020 Paul Muolo Blowout 2Q earnings for mortgage lenders? We're about to find out...Read More
BlackRock Reduces Position in Troubled Ocwen July 12, 2020 Paul Muolo In a public filing this spring, Ocwen listed among its risks: “our ability to maintain positive relationships with our large shareholders…”Read More
Ginnie Dampens ‘Easy Pickings’ on Buyouts July 10, 2020 Brandon Ivey and Paul Muolo Ginnie Mae recently changed pooling practices tied to the buyout of delinquent mortgages from its MBS.Read More
Arch Parent Sells 30-Year Paper, ILN Too July 10, 2020 Paul Muolo Now that markets have calmed somewhat, mortgage insurers can issue insurance-linked deals and more. Arch is the first out.Read More
Wells Snags Flagstar President to Head Home Lending July 10, 2020 Paul Muolo Rising star tapped to head nation's second largest home lender.Read More
Ginnie Sees ‘Buyouts’ Spike and Moves to Quell the Tide July 9, 2020 Paul Muolo and Brandon Ivey There’s nothing wrong with buying delinquent mortgages out of Ginnie pools, but some issuers may have been getting too greedy during the pandemic.Read More