Impac Reports Large Loss for 2Q18, Blames Cash Call. Is Keen to Grow Non-QM Production August 9, 2018 Paul Muolo A spokesman said Impac is now funding $100 million per month in nonprime loans and plans to grow the business further.Read More
Short Takes: In Non-QMs We Trust / A Land Rush Into Non-QM? / A Nonbank Buying a Bank, Not an Everyday Occurrence / Ultimate Goal: To Tap FHLB Advances? / Nick Smith Departs Blackstone TORO August 9, 2018 Paul Muolo Impac's Justin Moisio: “Everyone’s getting into this game.” Read More
Bulk Servicing Sales Continue at a Brisk Pace. A Record Year? August 9, 2018 Paul Muolo IMA and MountainView expect to trade more product this year than last…Read More
Another Record Non-QM Production Quarter for Citadel. 2018 Production Could Top $1.8 Billion August 8, 2018 Paul Muolo At the end of July, Citadel serviced $1.75 billion of non-QMs…Read More
Redwood Reports Lower Earnings, but a Rise in Loan Purchases August 8, 2018 Paul Muolo At June 30, Redwood held $5.5 billion of residential loans on its books, up 40.6 percent from a year ago.Read More
Short Takes: Brother, Can You Spare $77.6 Billion? / If Things Get Rough, This is How Much Money I Might Need / Define ‘Severely Adverse’ Scenario / The Wells Fargo Mortgage Layoff Tally for July / Fannie Director Departs August 8, 2018 Paul Muolo But the bailout calculations – mandated under the Dodd-Frank Act Stress Tests – were not done by the FHFA. Read More
Zillow’s Share Price Crushed After Agreeing to Buy Kansas-Based Mortgage Firm August 7, 2018 Paul Muolo Zillow, a real estate information services company, highlighted the mortgage purchase as a key part of its third quarter results.Read More
Lobbying on the GSE Issue Moves from Congress to the Executive Branch August 7, 2018 Paul Muolo Earlier this year, Treasury Secretary Steven Mnuchin told the Senate Banking Committee he has the authority to restructure Fannie and Freddie without any change in law.Read More
PHH Continues to Sell Servicing Rights Ahead of Sale to Ocwen August 7, 2018 Paul Muolo In its earnings statement, PHH notes that Ocwen can terminate the acquisition if “available cash on hand falls below a prescribed amount…”Read More
Short Takes: R-E-S-P-E-C-T is What loanDepot CEO has for Zillow / Houlihan Lokey Advised Zillow / Shellpoint Shines / MBA Likes the Sandbox / A Handful of Promotions at PRM August 7, 2018 Paul Muolo and Yemeng Yang Anthony Hsieh of loanDepot: “Relax everyone. Competition is good." Read More