Trouble Ahead: Gain-on-Sale Margins Slipping February 27, 2017 Paul Muolo Piper analyst Kevin Barker and his team estimate that so far in 1Q17, the average refi volume is down 26 percent from fourth quarter levels.Read More
Incenter Selling Fannie/Freddie Mortgage Servicing Rights February 27, 2017 Paul Muolo California mortgages account for the large chunk of collateral at 41.2 percent. Texas is a distant second at 10.4 percent.Read More
Short Takes: Letting the Single-Security Flag Fly at SFIG / Lots of Emails Regarding the GSEs / $10B of GSE Preferred Sold the Year Before Seizure / Maloni Responds / Moving (In)to Montana / A New Hire for Selene February 27, 2017 Brandon Ivey and Paul Muolo Bradd Gold of Au Consulting LLC noted that in the year prior to their federal takeover, Fannie and Freddie sold $10 billion of GSE junior preferred. Read More
The Time is Right for a Boom in Servicing Sales. However… February 24, 2017 Paul Muolo Meanwhile, selling Ginnie Mae receivables is still a difficult task…Read More
What We’re Hearing: Okay, So Mnuchin is One of Them, But… / Where Were You When We Were Bailing Out Fannie and Freddie? / Remember Hank Greenberg? / Maybe Servicing Compensation is Too Low / The Next Bank to Quit Servicing… February 24, 2017 Paul Muolo Once the GSEs turned it around and showed a whiff of profit the speculators pounced and bought the shares on the cheap...Read More
Fairholme Chief Bruce Berkowitz on GSE Legal Setback: ‘This is far from over.’ February 23, 2017 Paul Muolo At last check, Fairholme valued its stake in Fannie/Freddie at roughly $115.7 million.Read More
Short Takes: More on Ocwen’s CFPB Problem / An Invitation to Write a NORA Letter / MSR Buying Dreams Up in Smoke? / Ocwen for Sale Eventually? / A New Hire for ClosingCorp February 23, 2017 Paul Muolo The disclosure comes on the heels of a recent legal settlement in California that paves the way for Ocwen to buy servicing rights once again...Read More
Thanks to Rising Rates, MSR Gains Boost Nationstar’s 4Q16 Bottom Line; Strong Revenue Growth Overall February 22, 2017 Paul Muolo Nationstar said it expects to board $144 billion of additional contracts in 2017, $111 billion of which is subservicing for New Residential Investment Corp.Read More
PE Investors Making Bets on Mortgage ‘Disruptors.’ Building a Better Mousetrap? February 22, 2017 Paul Muolo Nexera founder and CEO Steve Abreu – a former GMAC executive – said there’s a great deal of interest from PE firms in the “disruptor” segment…Read More
NAR Wants the GSEs to Reduce Fees, Complains to FHFA about Fannie Financing SFRs for Wall Street February 22, 2017 Paul Muolo Freddie Mac has yet to enter the SFR market in any significant way, but may soon, its CEO told IMFnews recently…Read More