Some mortgage lobbyists predict Watt – a lawyer by training and a former Congressman – will pull the recap lever by the end of the Obama administration...
Christopher Whalen, senior managing director at KBRA, noted that most of the megabanks “are showing lower mortgage banking lines, which includes MBS desk P&L [profit and loss]. Gain-on-sale is also down about 50 percent year-over-year, so that’s another factor in the balance.”
The publicly traded servicer/originator took in $330.7 million in revenue, a 35.2 percent decline from 1Q15. Its origination revenue was a meager $23.2 million…
Blackstone continues to expand its presence in the mortgage industry on several fronts. In late January, it bought Interactive Mortgage Advisors, a Denver-based servicing advisory firm.