Citizens Bank Agrees to Buy Top-Ranked TPO Lender FAMC for Just 1.1-Times Book May 31, 2018 Paul Muolo Roughly 95 percent of FAMC's production comes from brokers and correspondents, according to Inside Mortgage Finance...Read More
Castle & Cooke Mortgage Sold to CEO Adam Thorpe and Eli Global May 31, 2018 Paul Muolo Based in Durham, NC, the privately held Eli Global has insurance assets and tries to keep a low profile. Read More
Short Takes: Mel Watt’s Successor May Be… / Morgan Stanley had a Role in the FAMC Deal / Consolidation Nation? / A New MBS from Redwood / New Hires for Home Point May 31, 2018 Brandon Ivey and Paul Muolo The consolidation tidal wave approaches ... or maybe not...Read More
Another California Mortgage Casualty: First Cal May 30, 2018 Paul Muolo Liquidation counsel Michael St. James did not return a telephone call and email regarding the situation.Read More
Leading Candidate for Top MBA Job Says He’s Not Interested May 30, 2018 Paul Muolo Candidates for the job have included Kevin Shavers, Robert Broeksmit and others…Read More
Short Takes: Time to Cut Pay for Loan Officers? / Something Has Got to Give / New Rez Readies Non-Agency MBS / Ocwen CFO Resigns / Calyx Hires Sales Chief May 30, 2018 Brandon Ivey and Paul Muolo loanDepot CEO Anthony Hsieh: “Something’s got to give."Read More
$1B a Year Lender First Direct Stops Taking New Applications. More to Come? May 29, 2018 Paul Muolo Is First Direct a harbinger of things to come?Read More
IMA, Phoenix Offering MSR Packages May 29, 2018 Paul Muolo According to the offering circular, the average loan balance is $230,368 with delinquencies totaling 5.80 percent...Read More
Short Takes: All FHFA Wants is Parity / GAO Favors It / Suddenly, Bonds Rally (Credit the Italians) / MIAC Selling S&Ds / New Hires for These Mortgage Vendors May 29, 2018 Paul Muolo The FHFA argues: "In contrast, other federal safety and soundness regulators have statutory authority to examine companies that provide services to depository institutions..."Read More
M&A Market Heats Up, Union Home Buys Arizona Lender May 16, 2018 Paul Muolo UHM has roughly 130 retail branches across 36 licensed states…Read More