MBA: Lower Lending Profits, and Fewer Firms Making Money April 18, 2018 Paul Muolo An ominous sign: 80 percent of mortgage companies surveyed earned a pre-tax financial profit for the year, compared to 94 percent tin 2016.Read More
Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads! April 18, 2018 Carisa Chappell and Paul Muolo As a practice, IBM rarely says a word about Seterus... Read More
Ditech Finally Releases 4Q17 Results – A Loss and a Warning About 2018 April 17, 2018 Paul Muolo Ditech added that under new leadership, the lender/servicer “continues to develop and execute various strategies to improve” its performance.Read More
Nationstar CEO Jay Bray Cleared for a $4.25 Million Bonus April 17, 2018 Paul Muolo CEO Jay Bray was eligible for a maximum bonus of $6.90 million…Read More
Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac April 17, 2018 Brandon Ivey and Paul Muolo Is Bank of America doing a slow fade on mortgages? Read More
A Steep 1Q18 Decline in Residential Production for BofA April 16, 2018 Paul Muolo BofA also produced $3.75 billion of home equity loans in the first quarter...Read More
Pershing Square Doubles Down on its GSE Bets April 16, 2018 Paul Muolo In the 2017 annual report, Pershing Square lists Fannie and Freddie common among its “losers…” Read More
Stearns Holdings Wants to Retire $80 Million Worth of High-Yielding Paper April 16, 2018 Paul Muolo Finance of America’s new president is industry veteran Bill Dallas.Read More
Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac April 16, 2018 Paul Muolo Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...Read More
Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least) April 13, 2018 Paul Muolo MB Financial plans to keep originating home loans in the greater Chicago area and will keep its mortgage servicing platform intact.Read More