A New Low for Walter’s Share Price: 64 Cents March 24, 2017 Paul Muolo When Walter Investment released fourth quarter results last week it declined to hold a live earnings call – somewhat of a rarity…Read More
What We’re Hearing: No GSE Capital in Nine Months / But Don’t Sweat It / Mel Knows / Fairholme’s Bad Bet on Sears / Impac Borrows Against Fannie Mae MSRs / Blend’s Clients Include Movement Mortgage March 24, 2017 Paul Muolo Not only does Fairholme own Fannie and Freddie shares, it has an investment in Sears, the troubled department store chain...Read More
Nationstar Mortgage EVP and CFO Robert Stiles Departs March 23, 2017 Paul Muolo In early March, Stiles filed notice to sell 11,931 shares of Nationstar common at a price of $18.40 a share or $219,530.Read More
A Change in the GSE PSPAs Coming Soon? Don’t Bet on It… March 23, 2017 Paul Muolo Waiting for a change in the GSE PSPAs is like waiting for Godot...Read More
Short Takes: GSE CSP Update: The UMBS will Arrive in 2Q19 / They Spent How Much on This Thing? / Cherry Hill REIT Taps the Equities Market / Freddie Mac Director Bolts for the Federal Reserve Bank of Atlanta March 23, 2017 Paul Muolo The CSP project comes with a cost: roughly $454 million has been spent so far...Read More
Finance of America Commercial Makes Big Push Into Broker Market with ‘Fix & Flip’ Lending March 22, 2017 Paul Muolo CEO Mark Filler said FoAC is now offering fix-and-flip loans as cheaply as 6.99 percent…Read More
Wall Streeter Phillips to Play ‘Critical’ Role at Treasury on GSE Reform; GSE ‘Principles’ Coming Soon from Trump? March 22, 2017 Paul Muolo Calabria joined the Trump administration from the conservative Cato Institute and is no fan of the GSEs...Read More
Short Takes: Reading the Mortgage Tea Leaves for 1Q17 / When in Doubt, Go Non-QM / Impac by the Numbers / Applications Fall, Existing Homes Sales Drop as Well March 22, 2017 Brandon Ivey and Paul Muolo Don’t look now but the yield on the benchmark 10-year Treasury is now down to 2.40 percent. And just in time for the spring home buying season…Read More
Subservicing Sector Starting to Look Crowded As More Firms Choose ‘Capital Light’ Strategy March 21, 2017 Paul Muolo The nation’s three largest residential subservicing firms are: Cenlar, Dovenmuehle and Loan Care. All are nonbanks.Read More
MBA: Net Origination Profit Plunged 68 Percent in 4Q16 March 21, 2017 Paul Muolo MBA noted that including all business lines, 73 percent of the mortgage companies posted pre-tax profits for the fourth quarter, down from 94 percent in 3Q16…Read More