Is Quicken’s BPMI Bid Potential Trouble for MI Firms? February 16, 2016 Paul Muolo But is the mega-lender advocating for consumers or is it another bold attempt to gain market share and thus increase profits? Industry consultant David Lykken noted: “Quicken’s being smart – they’re using their leverage.”Read More
Caliber CEO Heads for the Retirement Exit as IPO of Nonbank Looks Increasingly Unlikely February 16, 2016 Paul Muolo Caliber is owned by Lone Star Funds, which was hoping to take the nonbank public one day…Read More
Clayton Taps Former Morgan Stanley MGD Brian Wornow to Lead Capital Markets Group February 16, 2016 Paul Muolo In the spring of 2014, Wornow left Morgan Stanley as managing director and head of its MBS trading desk.Read More
Short Takes: Freedom Expands Beyond Mortgages / A Trend in the Making? / Midwest M&A, Maybe / DocMagic Offers TRID R&W / Cook’s Ditech Gets $300K Bonus / February 16, 2016 Paul Muolo A few days later, Ditech filed notice with the SEC that the company would pay Patti Cook a $300,000 bonus for her service to the company...Read More
MBS Prices Spike As Yield on 10-Year Treasury Hits Four-Year Low; What’s Next? February 12, 2016 Paul Muolo The bid price on the FNMA 3.50 bond has become so frothy that some investors are shorting the security...Read More
Falling Rates Make MSR Sales Problematic – for Now February 12, 2016 Paul Muolo Declining interest rates are making some bidders think long and hard about MSR pricing...Read More
What We’re Hearing: A 2.50 Percent FRM? / Hayman Out of PennyMac / Manny Friedman Losing the Love for PHH? / Sick of Hearing About Quicken’s ‘Rocket’ Mortgage? / CFPB Ready to Give Secondary Market Relief on TRID? February 12, 2016 Paul Muolo Meanwhile, EJF Capital, the private equity firm headed by Manny Friedman, has dumped a large chunk of its stake in PHH...Read More
MountainView Selling $7.2B of MSRs, Prestwick Out with Large ‘Flow’ Deal February 11, 2016 Paul Muolo Rates are still falling, but MSR packages continue to hit the auction block...Read More
Nonbank Selling $10 Million of ‘Scratch & Dent’ TRID Loans February 11, 2016 Paul Muolo A trader who plays in the market confirmed the $10 million figures to IMFnews.Read More
Short Takes: Clayton Holdings Set to Name New Cap Markets Chief? / Blackstone Ready to Make a Major Hire? / Strong MI Growth for Arch / Morgan Settles Mortgage Charges with Uncle Sam / FGMC Picks TPO Chief February 11, 2016 Paul Muolo At year-end, Arch MI had $6.83 billion of risk-in-force...Read More