PiperJaffray: Lenders are Cutting Costs but It’s Not Enough. LO Pay Must Come Down July 12, 2018 Paul Muolo Consultant David Lykken said some mortgage bankers believe LO comp is “untouchable,” but he strongly disagrees…Read More
Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group July 12, 2018 Paul Muolo One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…Read More
New FHA Commissioner Montgomery: Risk-Sharing with PMIs not a Priority July 11, 2018 Paul Muolo FHA Commissioner Brian Montgomery on risk-sharing with private MI firms: Not an immediate concern…Read More
PMI Analysts Look at Fannie’s New MI Pilot, Wondering If It Poses a Threat July 11, 2018 Paul Muolo But there’s a catch for lenders: Originators will have to pay an additional loan-level price adjustment…Read More
Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage July 11, 2018 Paul Muolo Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...Read More
Flagstar Hires Regions Bank Executive to Head Retail July 10, 2018 Paul Muolo In the first quarter of 2018, Flagstar funded $7.88 billion of home mortgages, just $960 million of which came through the retail channel...Read More
Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB July 10, 2018 Paul Muolo Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.Read More
Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ July 9, 2018 Paul Muolo Of course, Ditech has a bit of back story…Read More
Pershing Square Tells Investors to Have Faith in the GSEs (Really) July 9, 2018 Paul Muolo Pershing Square bought its stake in the GSEs earlier in the decade at prices north of $2.00 a share…Read More
Phoenix Capital Selling Fannie/Ginnie Servicing Package July 9, 2018 Paul Muolo A few weeks back, Phoenix Capital was in the market with a flow MSR offering that carried a maximum size of $540 million…Read More