Angel Oak Working on Second Subprime MBS May 10, 2016 Paul Muolo Last year, the two Angel Oak companies originated roughly $350 million in non-QM loans. This year they are hoping for production that could top $850 million.Read More
PIMCO-owned FGMC Buys Assets of goodmortgage.com; Targets Fast Licensing Growth May 10, 2016 Paul Muolo goodmortgage.com will be operated as a division of FGMC and run as a “dba.”Read More
Short Takes: Taking a Discount for Being a ‘Marketplace’ Lender? / California Regulators are Watching / goodmortgage.com Founder to Stay On / A Record Month for PRMG / Ellington and Non-QMs / UGC Gets Some Extra Insurance May 10, 2016 Brandon Ivey and Paul Muolo New applications are booming at PRMG...Read More
As MSR Markdowns Increase, Investors Show More Interest in Hedging the Asset May 9, 2016 Paul Muolo “To hedge, or not to hedge” sounds like something William Shakespeare might have written if he were around today making mortgages...Read More
Altisource Residential Posts Huge Loss for 1Q16, But Stresses Progress May 9, 2016 Paul Muolo Altisource Residential plans to recycle NPL money into investments of “pools of stabilized rental homes at attractive yields.”Read More
Marketplace Lender SoFi Originating $100 Million Per Month in Mortgages May 9, 2016 Paul Muolo Is there a future for “marketplace” lenders in mortgage banking? Opinions can differ…Read More
Short Takes: Suddenly, Plenty of Servicing Portfolios to Choose From / Will SoFi Be Around in 10 Years? / A Different Take on PHH / A Profit for Redwood / Hard Money for Pitbulls May 9, 2016 Paul Muolo Are P2P firms a fad?Read More
Short Takes: PHH on TPO: Subpar Profits / Mortgage Broker Share Holds Steady / Broker Blame? / NAMB’s New Identity / Home Point Hires Account Executives May 5, 2016 Paul Muolo PHH said in a new SEC filing: “We will not be pursuing our previously communicated acquisition strategy at this time..."Read More
Fannie Mae’s Net Profit Fell 54 Percent After the GSE Took a $2.8 Billion Hit on Derivatives May 5, 2016 Carisa Chappell and Paul Muolo G-fees – which have been rising in recent years – are ultimately paid by borrowers.Read More
A Sale of PHH/Assets Looms Large After 1Q Loss, Declining Revenue and Falling Originations May 5, 2016 Paul Muolo Earlier this year, management signaled that the nonbank is considering its options...Read More