KBW: Don’t Expect Much Improvement from Gain-on-Sale October 12, 2017 Paul Muolo “We estimate that gain-on-sale margins will be roughly flat quarter to quarter,” writes KBW analyst Bose George…Read More
Short Takes: Residential Production Plunges at Citi / MSR Holdings Down Too / But a Nice Profit for 3Q17 / JPMorgan Readies New Non-Agency MBS / Ocwen Exiting Wholesale Channel / Fannie Announces New NPL Auctions October 12, 2017 Brandon Ivey and Paul Muolo Citi’s third-party servicing portfolio is down to $49.1 billion from $147.6 billion at Sept. 30, 2016...Read More
HUD Secretary Ben Carson Tells Panel Agency is Working to ‘Resolve’ Use of the False Claims Act October 12, 2017 Paul Muolo “I’m not sure why there’s been such an escalation of it [the FCA],” said Carson.Read More
The GSEs Should Report Robust Earnings for 3Q17. Here’s Why… October 11, 2017 Paul Muolo A previously announced legal settlement with Royal Bank of Scotland will soon hit the books...Read More
GSEs Unaffected by Deloitte’s Computer Break-In October 11, 2017 Paul Muolo A Freddie spokesman noted: “We take cyber-security seriously as it relates to every aspect of our business.”Read More
Short Takes: Ginnie Mae Worried about Certain Nonbanks? / The David Kittle Nomination? / KKR Closes Fund to New Investors / SFR Hits $33 Billion / A New Hire for Grandbridge October 11, 2017 Paul Muolo There’s still no word from the White House on when it will nominate industry executive David Kittle to be the next president of Ginnie Mae...Read More
As the New Quarter Begins, More GSE MSR Deals Hit the Auction Block October 10, 2017 Paul Muolo The first offering is for $524 million and comes from an independent mortgage banking firm…Read More
The Equifax Data Breach – What it Might Mean for the Mortgage Industry. Warehouse Implications? October 10, 2017 Paul Muolo Overall, hackers stole financial information on roughly 140 million American consumers…Read More
Short Takes: CIT Will Take Hefty Hit on Sale of Financial Freedom / OneWest’s Roots / Fannie and Freddie Affected by Deloitte Hack? / ALTA Unveils Registry / A New Hire for Platinum October 10, 2017 Brandon Ivey and Paul Muolo CIT Group will take a charge of up to $50 million on the sale of Financial Freedom...Read More
PHH Private-Label Customer Morgan Stanley Slashes Stake in Nonbank to 0.2 Percent October 9, 2017 Paul Muolo Back in 2015, the Morgan Stanley PLS contract accounted for roughly 20 percent of PHH’s originations…Read More