Short Takes: Cherry Creek Mortgage Chairman Resigns. Why? / Healthcare Benefits Extended to Same Sex Couples / Hurricane Harvey, the Aftermath / Cancelling Closings as the Storm Approached / A New High for Home Prices August 28, 2017 Paul Muolo and Sherry Muolo The day before, Cherry Creek Mortgage issued a statement saying it would extend health care benefits to cover same-sex couples “effective immediately.”Read More
Fannie Mae Tallies Loans Affected by Hurricane Harvey: $5.12 Billion and Counting August 28, 2017 Paul Muolo A spokeswoman for Fannie said, “While the situation on the ground remains uncertain, areas impacted are subject to change…”Read More
Prestwick Readies $532 Million Fannie/Ginnie Bulk MSR Portfolio for Auction August 25, 2017 Paul Muolo The weighted average servicing fee is 34 basis points, the delinquency ratio 3.13 percent.Read More
What We’re Hearing: They’re Back: 80-10-10s / Credit Unions Allowed to Buy Servicing Rights? / DB Cuts Large Repo Deal with Penny Mac Financial / Wells Fargo, UWM Dominant in their Channels / So Long Wells, Hello loanDepot August 25, 2017 Paul Muolo Dan Hanson, a top production manager for number-one ranked lender Wells Fargo, has jumped ship for loanDepot...Read More
Vendor That’s Digitizing the Mortgage Process Lands $100 Million in Funding August 24, 2017 Paul Muolo In earlier funding rounds, Blend's backers have included businessman Peter Thiel, who co-founded PayPal... Read More
Wedbush: Expanded Credit Could Add $200 Billion of Originations August 24, 2017 Paul Muolo Publicly traded lenders that could benefit from the trend include First Republic Bank, Flagstar Bank, Nationstar Mortgage and U.S. Bank…Read More
Short Takes: A New Loan Record for Freddie Mac / CFPB Warns Seniors About Reverses / Refis on the Rise a Bit / SFR Official Gets Ginnie Job / A New Hire for Mortgage Network August 24, 2017 Paul Muolo and Sherry Muolo According to a Freddie spokesman, the loan represents the “the largest-ever single-asset tax-exempt financing completed” by the GSE…Read More
Wells Fargo Wins the Bid for Seneca Mortgage August 22, 2017 Paul Muolo Other bidders on the $53.6 billion MSR portfolio include JPMorgan Chase and New Residential…Read More
Short Takes: Mortgage Apps Decline / What to do About Fannie and Freddie? / A Fast Grower, Guild has its Eye on M&A / Walter Bolting Reverses / A Promotion at UWM August 22, 2017 George Brooks, Carisa Chappell, and Paul Muolo A fast grower, Guild Mortgage is open to buying other shops...Read More
Morgan Stanley Declares 5.2 Percent Stake in PHH Corp. August 22, 2017 Paul Muolo PHH is in the throes of transforming from a business predicated on private-label originating and servicing to being mostly a subservicing vendor.Read More