Short Takes: Private MIs Want Higher FHA Capital Standards / Ocwen Sells Short-Term Paper / CoreLogic Updates Risk Model on Jumbos / Due Diligence Providers Added / Correction November 16, 2015 Brandon Ivey and Paul Muolo Some believe the FHA MMIF minimum capital standard should be 4.5 percent, not 2.0 percent. Read More
What We’re Hearing: loanDepot, What the Heck Happened? / Marketing Itself as Technology and Consumer Finance Firm / Eventually, the IPO Will Happen / Salivating Short Sellers? / Waiting on the FHA MMIF Audit November 13, 2015 Paul Muolo A handful of hedge funds were salivating at the prospect of shorting loanDepot's stock...Read More
A Stonegate Mortgage Disclosure: 47 Branches in the Process of Being Closed November 12, 2015 Paul Muolo It's unclear how the Indianapolis-based Stonegate will compensate for the anticipated loss in originations once it closes the 47 branches.Read More
CoreLogic: Foreclosure Inventory Down to 470,000 Homes and Sinking Fast November 12, 2015 Paul Muolo Over the past 12 months, Florida had the highest number of completed foreclosures at 91,000.Read More
In IPO Documents, Nation’s No. 11 Ranked Lender loanDepot Values Itself at $621 Million November 12, 2015 Paul Muolo The last nonbank mortgage lender to go public was Stonegate Mortgage, which brought its IPO to market two years ago. Read More
Short Takes: And the Lenders One President Is… / Mortgage Ads on the Front Page of The Washington Post / Atlantic City’s Foreclosure Crisis / First American Reports Order Increase / CoreLogic Expands Multifamily Effort November 12, 2015 Paul Muolo Although the home foreclosure inventory is falling compared to a year ago, some metropolitan areas are seeing an increase in new filings, including Atlantic City.Read More
loanDepot Delays IPO, Citing Market Conditions; Sources Question Valuation November 12, 2015 Paul Muolo On Thursday, Inside Mortgage Finance quoted one source as saying loanDepot’s valuation is “a bit aggressive.”Read More
No Flurry of ‘Bulk’ Servicing Deals This Time Around? November 11, 2015 Paul Muolo Meanwhile, mortgage servicing values have firmed up the past month, thanks to the recent rise in interest rates...Read More
Short Takes: Sen. Ted Cruz Wants to Kill HUD / A New 52-Week Low for Altisource Asset Management / Fannie Mae’s HQ Finally Hits the Market / NMI Gets Senior Secured Loan / The Fastest-Growing Servicers Among Us November 11, 2015 Carisa Chappell and Paul Muolo Sen. Rand Paul, R-KY, said he would not touch the mortgage interest deduction, but Dr. Ben Carson wasn't as friendly...Read More
One Month-Plus Into TRID: Fear of Disclosing Buyer Info and Complaints About the Great ‘Time Suck’ November 10, 2015 Paul Muolo Bill Dallas of Skyline Lending said TRID preparation usurped all other projects...Read More