CDFI-Designated Lender Inks Deal to buy Oregon Retailer LoanStar. Buyer will Beef Up Non-QM Production June 27, 2018 Paul Muolo LoanStar was founded five years ago by industry veteran Mike Baldwin…Read More
Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down June 27, 2018 George Brooks, Carisa Chappell, and Paul Muolo FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."Read More
Impac Partners with Commercial REIT Starwood on Non-QM Loans June 26, 2018 Paul Muolo Starwood began acquiring non-QM loans last fall using Federal Home Loan Bank advances...Read More
CFPB Closes RESPA Violation Case Against Zillow June 26, 2018 Paul Muolo In the spring of 2017, it came to light the bureau would take legal action against Zillow... Read More
Servicing Advisors Worry About the GSE Role in the ‘Flow’ MSR Market June 26, 2018 Paul Muolo Incenter Mortgage Advisors, Denver, is getting ready to launch a flow MSR marketplace of its own…Read More
Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official June 26, 2018 Paul Muolo Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…Read More
Wells Fargo Cuts 100 Workers at South Carolina Location June 25, 2018 Paul Muolo Applications have picked up in April, May and June but firms that focused too heavily on refis are now feeling the heat.Read More
Phoenix Capital Selling $1.2B of GSE MSRs June 25, 2018 Paul Muolo The seller of the bulk package is a depository that lends heavily in the South…Read More
Short Takes: A Shift on GSE Thinking? / loanDepot Resumes / Job Cuts at Finance of America / Product Update from Arch / A New Mortgage Hire for BBVA June 25, 2018 Paul Muolo In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.Read More
What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech June 22, 2018 Paul Muolo One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”Read More