HUD Trims FHA MIP by 25 BPs. But Can (and Will) Trump Block It? January 9, 2017 Paul Muolo Why the change of heart? For most of last year, HUD and FHA officials nixed the idea of cutting the premium…Read More
Short Takes: FHA Premium Cut Has Negative Impact on MI Stocks / Carson Should Expect a Lot of Questions on the MIP / Of Mortgages and Brains / FHLBs Get More Flexibility on Collateral January 9, 2017 Carisa Chappell and Paul Muolo Mortgage insurance stocks aren't have a good day. Blame the FHA MIP cut?Read More
What We’re Hearing: What’s Up with Walter Investment? / MSR ‘Mark-up’ Mania / Rates Heading South, a Bit / Layoff Rumors and Actual Layoffs / Bad News for GSE ‘Recap and Release’? January 6, 2017 Paul Muolo With rates falling again, lenders may be rethinking any planned layoffs...Read More
A Cut in FHA Premiums Has Been Pitched to HUD Nominee Carson. Will He Bite? January 5, 2017 Paul Muolo President-elect Donald Trump wants to improve access to credit. A cut in FHA premiums would presumably help...Read More
Angel Oak’s Final Non-QM Tally for 2016: $700 Million January 5, 2017 Brandon Ivey and Paul Muolo “It was a record month for us,” said Angel Oak executive Mike Fierman.Read More
Short Takes: Departing HUD Secretary Castro Takes Stock / FHA Had a Market Share of What? / The Tables Have Turned / Who’s Selling MSRs? / Phoenix Promotes Sprague to EVP January 5, 2017 Paul Muolo The seller of the MSRs is a large nonbank based in the Midwest...Read More
Walter Inks Deal to Sell Insurance Unit to Assurant Sub for $125 Million in Cash January 4, 2017 Paul Muolo Walter CEO Tony Renzi said the sale of the insurance affiliate will “reduce the complexity of our business operations..."Read More
Nonprime Lender Citadel Now Actively Hiring Retail LOs; Ends Year with Just Over $500 Million in Originations January 4, 2017 Paul Muolo Citadel now has offices in California, Georgia, Oregon and plans to open an underwriting and transaction location in Salt Lake City soon.Read More
Short Takes: Dr. Carson to Meet the Senate / Next: Steve Mnuchin / New OneWest Allegations a Problem? Probably Not / Redwood Readies its First Jumbo MBS of the Year January 4, 2017 Brandon Ivey and Paul Muolo Will the leaked memo lead to confirmation problems for Mnuchin, a Goldman Sachs and Wall Street alumni? Probably not...Read More
A Small Club: Nonbank Mortgage Firms (or Their Owners) That Have Purchased Depositories January 3, 2017 Paul Muolo Consultant Joe Garrett notes: “It’s a very small club of mortgage bankers who’ve bought banks…”Read More