Quicken Loses Large Broker Partner, Blames BRAWL, UWM and its CEO August 15, 2018 Paul Muolo CEO Mat Ishbia: “We are not sure why Quicken Loans has decided to bring UWM into this situation."Read More
Short Takes: Who Needs the GSEs? / JPM’s Strategy / Subservicers on the Auction Block? / New Diligence Advisors Gets the Seal of Approval from KBRA / Atlantic Bay Mortgage Won’t be Buying VA Bank After All August 15, 2018 Paul Muolo We know of one large subservicer that’s for sale (Ditech Financial), but a second processor may also be considering offers.Read More
Short Takes: GSE Nonprime Holdings Keep Shrinking / However… / Production Remains Strong at UWM / LendingTree’s Share Price: Down, Down, Down / Lenders One Promotes Kuentz to CEO August 14, 2018 John Bancroft and Paul Muolo Fannie and Freddie stopped acquiring nonprime mortgages during the financial crisis, but they haven’t completely avoided the loans... Read More
RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges August 14, 2018 Paul Muolo Overall, RBS underwrote $261.1 billion of subprime securities during the go-go years...Read More
Why Mayopoulos’ Senior Lieutenants Will Turn Down the Fannie Mae CEO Job August 13, 2018 Paul Muolo Mayopoulos didn’t even earn a performance bonus in 2017, despite a companywide pre-tax profit of $18.4 billion.Read More
IMA Working on $20 Billion MSR Transaction August 13, 2018 Paul Muolo The top five sellers of bulk agency product during the first-half of 2018 were Stearns Lending, Flagstar Bank, Seneca Mortgage, United Shore Financial (parent of United Wholesale Mortgage), and loanDepot.Read More
Movement Mortgage Hires Top Recruiter from Academy Mortgage August 13, 2018 Paul Muolo Green will help Movement Mortgage recruit new loan officers…Read More
Short Takes: Beware CECL Accounting? (Fannie/Freddie) / What it Means / MIAC Selling Multifamily Servicing Rights / C2 Financial, Who are They? / Mayer Brown’s New Mortgage Attorney August 13, 2018 Paul Muolo Beware CECL accounting?Read More
In a Tough Lending Market, Geneva is Attracting LOs – by Offering Comp of 250 BPs August 13, 2018 Paul Muolo Geneva CEO Aaron VanTrojen: “I think I have a target on my back.”Read More
More of the Same from Ditech: A Net Loss, Lower Originations and Liquidity Concerns August 9, 2018 Paul Muolo In June, Ditech agreed to sell MSRs to New Penn Financial...Read More