KBW Raises Earnings Estimates on Fannie and Freddie, Questions CRTs November 13, 2018 Paul Muolo As of Sept. 30, Fannie and Freddie had some form of risking sharing on 38 percent to 42 of their guaranteed portfolios, respectively.Read More
Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official November 13, 2018 Paul Muolo Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.Read More
Odds of GSE Reform May Not Have Changed Much November 12, 2018 Paul Muolo Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…Read More
September Proves to be a Turning Point for Mortgage Employment, and Not in a Good Way November 12, 2018 Paul Muolo One loan broker said business has been so slow that it’s like, “going into a hockey rink overnight: Dead quiet.”Read More
Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending November 12, 2018 Paul Muolo United Wholesale Mortgage continues to hire...Read More
14 Nonbanks Received the Ginnie ‘Liquidity’ Letter. A Concern Regarding ‘Cash-out’ Moves by Owners? November 9, 2018 Paul Muolo The implication is that declining originations, plummeting refinancing volume and razor-tight profit margins are causing consternation at Ginnie…Read More
What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count November 9, 2018 Paul Muolo The first move expected is a possible lowering of GSE loan limits... Read More
Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator November 8, 2018 Paul Muolo Several months ago, rumors began to surface that Pacific Union might be for sale...Read More
Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too November 8, 2018 Paul Muolo About 41 percent of Impac's volume now entails non-QM lending...Read More
Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point November 8, 2018 Brandon Ivey and Paul Muolo UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...Read More