Short Takes: More Origination Records for Lenders? / An MSR Offering From Phoenix / A Broker Comp Problem? / Ellie Share Price Remains Sweet / A New Hire for StoneHill September 6, 2016 Paul Muolo Mortgage software vendor Ellie Mae has a current market capitalization rate of $3.31 billion...Read More
Can PHH Be Sold Before More Problems Surface? September 2, 2016 Paul Muolo In a recent SEC filing, PHH disclosed that the bloom is now off the rose when it comes to being a private-label vendor…Read More
What We’re Hearing: MBA’s Dave Stevens Said What? / But First, an Explanation / The MID Costs but it Also Creates Jobs. Sort That One Out / Militant Backers of the Tax Deduction September 2, 2016 Paul Muolo Proponents of the mortgage interest tax deduction point out that the real estate and mortgage industries employ thousands upon thousands of workers with spillover to other sectors...Read More
Short Takes: ‘Fix n Flip’ Lender Jordan Should Have a Record Year / Help Wanted: SVP of Sales / Nonprime Retail Firm Angel Oak Continues Expansion / Declining MSRs at Prospect Mortgage / Luther Hires Former Finance of America Official September 1, 2016 Paul Muolo Retail nonprime/non-QM originator Angel Oak Home Loans is continuing its national expansion...Read More
Steady as She Goes in Subservicing Market. Cenlar Continues to Dominate August 31, 2016 Paul Muolo Certain subservicers, including Nationstar Mortgage, continue to solicit others to shift their servicing chores over to them…Read More
Some Lenders Expect to Set New Production Records in August August 31, 2016 Paul Muolo One originator described August’s activity as “busy, crazy busy…”Read More
Short Takes: In the Jumbo Space, Banks Were the Top Gainers / Dave Stevens Isn’t Interested in the Job, but … / Former Mortgage Chief Indicted August 31, 2016 George Brooks and Paul Muolo What Stevens describes sounds like something a trade group might want to do...Read More
Subservicer Rushmore Launches Consumer-Direct Channel; Former Nationstar Exec Leads the Effort August 30, 2016 Paul Muolo While Rushmore’s headquarters is in Southern California, the production operation is based in Dallas, where Steve Mix worked for Nationstar.Read More
Prestwick Selling $502 Million of Fannie Mae/ Freddie Mac Servicing Rights August 30, 2016 Paul Muolo All of the loans were funded through the retail channel by the seller company.Read More
MBA: Servicing Losses Worsen by 36 Percent, But Origination Profits Rise 104 Percent August 30, 2016 Paul Muolo The results should surprise few: big gains on production, losses on servicing…Read More