Sen. Brown Says CFPB Chief Mulvaney Must Go, Cites ‘Pay to Play’ Comments April 26, 2018 Paul Muolo Sen. Brown said he wants a new CFPB director, one with a moral compass…Read More
Altisource Reports a Loss, Declining Revenue and Says the CFPB Won’t Take Action Against It April 26, 2018 Paul Muolo In February of last year, Altisource disclosed in an SEC filing that the CFPB was looking into the vendor’s relationship with Ocwen...Read More
Short Takes: Losses at Privately Held Shops? / Refis Near a 10-Year Low / Will the CFPB Target Rate-Lock Commitment Abuses? / Strong Earnings for Radian but Clayton a Drag / A New Hire for United Wholesale April 26, 2018 Paul Muolo and Yemeng Yang Radian's mortgage and real estate services division – which includes due diligence provider The Clayton Group – continues to struggle...Read More
PHH’s CEOs Took Home (Combined) $5.26 Million in Compensation Last Year April 25, 2018 Paul Muolo Crowl’s base pay for 2017 totaled $554,808 while Messina’s came to $485,962.Read More
Short Takes: Another Milestone for Angel Oak / Going After Bayview? / Mortgage Layoffs at HomeStreet / Genworth Unveils Rate Card Reductions / A Promotion at PRMI April 25, 2018 Paul Muolo HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.Read More
Originations Fall 19 Percent at Flagstar; Bank Keeps Selling MSRs April 24, 2018 Paul Muolo Flagstar sold $12 billion of mortgage servicing rights as well…Read More
Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager April 24, 2018 Brandon Ivey and Paul Muolo A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals. Read More
M&A Mania is Hitting the Mortgage Vendor Market April 23, 2018 Paul Muolo Earlier this month, Stone Point Capital bought due diligence advisor American Mortgage Consultants for an undisclosed sum…Read More
Angel Oak Targets Commercial Mortgages, Will Focus on $5M and Under… April 23, 2018 Paul Muolo In 2017, Angel Oak affiliates originated a company record $1.1 billion of non-qualified mortgages, a 40 percent improvement from the year prior.Read More
PennyMac Executive Chairman Stan Kurland Took Home $9.5M in 2017 April 23, 2018 Paul Muolo Last year, PennyMac, a publicly traded real estate investment trust, earned $102.5 million in 2017, a 35 percent improvement from the year before.Read More