Walter Gets Increase in Warehouse Line for Reverse Unit May 30, 2017 Paul Muolo Walter’s reverse business posted a pre-tax loss of $5.3 million in the first quarter but took in total revenue of $22.5 million.Read More
Ocwen Sues FIS Over MSR Monitoring Contract; Says Workers Visited Strip Clubs on Ocwen’s Nickle May 30, 2017 Paul Muolo The servicer alleges that “illegitimate time” was billed to the company for hours FIS workers spent “patronizing strip clubs and casinos.”Read More
Short Takes: Ocwen Registers More Stock / A 12 Day Wait to Announce / The Fidelity Empire / No Income Verification for Flippers / Norcom Hires Reverse Chief May 30, 2017 Brandon Ivey and Paul Muolo All Credit Considered Mortgage is offering investment-property mortgages that do not require verification of the borrower’s income or employment.Read More
In the Mortgage M&A Game, Small and Medium-Sized Shops are Targets May 26, 2017 Paul Muolo In years past, RPM has been a selective buyer of mostly smaller shops.Read More
What We’re Hearing: Don’t Bet on Court Outcomes / Randy May Want to Wait on the Curtains / No President, No Cry / About that $627 Million… / What About a Partial Capital Cushion for the GSEs? / A Busy Week for Incenter, Phoenix May 26, 2017 Paul Muolo If Trump is successful, presumably the money would flow through to the bottom line of Fannie and Freddie and counted toward earnings. Read More
Nonprime Lender Citadel Ready to Enter the Small-Balance Commercial Market May 25, 2017 Paul Muolo Citadel’s small-balance commercial program will include mixed-use retail and other loan types.Read More
More MSR Offerings from Incenter May 25, 2017 Paul Muolo For the week, IMA rolled out $3.87 billion worth of servicing auctions.Read More
Short Takes: Trump Copies Obama’s FHA Tech-Fee Idea / More Wholesale Lenders? / Home Point Deal Progresses / CHLA Presses for FHA Premium Cut / A New Director at Impac Mortgage May 25, 2017 George Brooks, Brandon Ivey, and Paul Muolo When’s the last time a publicly traded mortgage company was sold in a stock transaction? Read More
Trump Aims to ‘Restructure’ the CFPB and Slash Agency Spending by 22.4 Percent May 24, 2017 Paul Muolo The Trump White House wants to slash the budget of the CFPB, an independent agency it has no control over...Read More
The MSR Market Firms Up; More Buyers; What Could Go Wrong? May 24, 2017 Paul Muolo Servicing advisors Steve Harris and Mark Garland view the MSR market as improving…Read More