Mortgage M&A Continues to Hum Along; 20 Percent of Nonbanks Could Disappear? March 3, 2017 Paul Muolo Earlier this week, Flagstar closed on its purchase of the correspondent lending platform of Stearns Lending – a rare transaction where a depository was buying a key mortgage asset from a nonbank.Read More
What We’re Hearing: What We Talk About When We Talk About Financial Lunacy / Should Apple Buy Fannie and Freddie? / The Coming Boom in Mortgage Delinquencies in the Washington, DC, Area / FannieMae.com? March 3, 2017 Paul Muolo Go figure: An "app" company called Snap that may never make a nickel is now worth more than Fannie Mae and Freddie Mac...Read More
New MSR Deals From Phoenix Capital, MountainView Servicing Group March 2, 2017 Paul Muolo The MountainView package has no delinquencies, average FICO scores of 753 and a weighted average LTV of 72 percent.Read More
Short Takes: PennyMac Files to Sell Preferred Shares / A Nice Dividend for Investors / Brian Wornow the Head of FinServ for KBW / Layoffs at a Mortgage Wholesaler? / Prestwick Selling Freddie MSRs March 2, 2017 Paul Muolo Recently, KBW hired Wall Street veteran Brian Wornow as managing director in charge of its financial services group...Read More
Altisource Residential Posts $228 Million Loss for 2016; CEO Calls It a ‘Strong’ Year March 1, 2017 Paul Muolo Altisource Residential said its goal is to build a large portfolio of SFRs “targeted to operate at a best-in-class yield.”Read More
Short Takes: So, You Want to be an LO? We Can Train You / Quicken Targets Cash-out Refi Market / Can You Live on 25 Basis Points? / Key RESPA Webinar Next Week / Some History on PHH March 1, 2017 Paul Muolo How much do LOs working at call centers earn per deal? We heard that some shops pay as little as 15 to 25 basis points...Read More
Caliber Home Loans Agrees to Buy Lending, Servicing Assets from Banc of California March 1, 2017 Paul Muolo In late January, Steven Sugarman, who built the bank into a well-regarded regional lender, resigned as CEO.Read More
Will Dwindling Refinances Lead to Layoffs? February 28, 2017 Paul Muolo As one executive put it: “January was slow, February was lower, and I can’t tell how March will be yet.”Read More
Short Takes: Who Will Lead FHA? / Radian Says It’s News to Bazemore / Vote on Carson Nears / Will Trump Mention the GSEs? February 28, 2017 Paul Muolo Then again, Trump has been known to surprise people. Read More
Warehouse Finance Sector Coming off a Strong 2016, but Storm Clouds Hover February 28, 2017 Paul Muolo Challenges include higher interest rates, which are translating into lower production volume in 2017…Read More