A Sequential Earnings Decline for Fannie Mae, but a Strong Profit Nonetheless November 2, 2018 Paul Muolo In less than two weeks, the Senate Banking Committee will hold an oversight hearing on controversial pilot programs launched by Fannie and Freddie...Read More
What We’re Hearing: The Strange Case of Fannie Mae and Freddie Mac / Pro-Pilot Programs / Warren Buffett and the GSEs / Mortgage Recruiter by Day, Opera Singer by Night / Lima One Makes its Move / Magnetar? November 2, 2018 Paul Muolo A huge non-QM expansion for Athas Capital?Read More
New Residential Readies Additional Offering of Stock. MSRs on the Shopping List? November 1, 2018 Paul Muolo According to Inside Mortgage Finance, New Residential ranks fifth among all residential servicers with a $384.0 billion portfolio at Sept. 30.Read More
First Pacific Advisors Discloses a 30.9 Percent Stake in Ditech November 1, 2018 Paul Muolo First Pacific is an institutional money management firm...Read More
Short Takes: Should the GSEs Increase Servicing Compensation? / Hanging with Mr. Cooper at No. 3 / PennyMac’s Amended Repo Line / Strong Underwriting Income for Arch, KBW Likes Radian November 1, 2018 Paul Muolo David Fleig of MorVest: “We have numerous active conversations with clients thinking about selling MSRs and I am sure our competitors do as well.” Read More
Freddie Earned $2.7 Billion (Net) in 3Q18. Treasury Will Get $2.6 Billion October 31, 2018 Paul Muolo Freddie said it expects to make the $2.6 billion dividend payment in December.Read More
MIAC, Phoenix Capital Out with New MSR Offerings October 31, 2018 Paul Muolo According to the offering circular, the portfolio is top-heavy with Ginnie product... Read More
Short Takes: Judging Risks and Rewards at Freddie / The Gift that Keeps on Giving: The Trump Tax Cut / Despite Some Losses, Mortgage Bankers Remain Liquid / An Earnings Decline at Radian / Leaving Wells Fargo for a Nonbank October 31, 2018 Carisa Chappell and Paul Muolo Freddie Mac benefited to the tune of $200 million (pre-tax) by reducing the write-down on its net deferred tax asset...Read More
Fairholme Tells Investors Court Ruling ‘Should Advance’ the ‘Re-IPO’ of Fannie and Freddie October 30, 2018 Paul Muolo Fairholme adds: “This is good news when you count the cash that Fannie and Freddie have earned and will earn.”Read More
A Possible Problem for Ginnie: Fannie/Freddie MBS Getting an Explicit Guarantee from Uncle October 30, 2018 Paul Muolo Rob Zimmer, director of external affairs for the Community Mortgage Lenders of America, is in the camp of those worrying about the ramifications…Read More