CIT Unveils $230 Million of ‘Additional’ Reserves Tied to Reverse Mortgage Business; HUD Probe Continues July 28, 2016 Paul Muolo Financial Freedom’s operation is the subject of an investigation being conducted by the HUD IG's office...Read More
Short Takes: Will the Last Jumbo Securitizer Left in the Business Please Turn Off the Lights / A Positive Word on Ocwen / Ocwen’s Irony / A Tidbit on One of MBA’s New Members / Strong MI Results for Arch July 28, 2016 Paul Muolo JGWHL’s parent company was recently delisted by the New York Stock Exchange…Read More
Home Point Financial Inks Deal to Buy Emery Financial’s Assets July 27, 2016 Paul Muolo Home Point, which has backing from a PE firm, may have its ears open to future deals…Read More
Short Takes: Mortgage M&A Mania Finally Arrives? / Five Oaks Halts Jumbo Aggregation / Angel Oak Rolls Out Investor NI Product / Fannie Tweaks High-LTV Guidelines / Mountain States Lead the Way, Says Black Knight July 27, 2016 Brandon Ivey, Macie Jones, and Paul Muolo Nonprime lender Angel Oak Mortgage Solutions is now offering a “no-income” loan to investors with credit scores as low as 660...Read More
Ocwen Lost $87.3 Million in 2Q16, but Originations Increased 35 Percent July 27, 2016 Paul Muolo However, one bright spot was originations, which increased sequentially by 35 percent to $1.32 billion.Read More
Top 40 Originator EverBank in Takeover Talks with ‘Well-Respected’ Financial Services Firm July 26, 2016 Paul Muolo However, EverBank has been cutting back its presence in residential finance, a trend that was cemented when Tom Wind left the company in December...Read More
Flagstar Grows Originations by 31.1 Percent in Second Quarter July 26, 2016 Paul Muolo Flagstar capitalized its residential servicing portfolio at 99 basis points at June 30, compared to 106 bps at March 31.Read More
Short Takes: Ginnie Mae MSR Demand: Deadly Slow? / FHFA IG Says Agency Shirking Its Duty / Summer Foreclosure Rates Looking Good (for Consumers) / Prepayment Speeds Spike / A New Hire at NCB July 26, 2016 Carisa Chappell, Brandon Ivey, Paul Muolo, and Sherry Muolo The IG accused the FHFA of shirking its responsibility to effectively examine Fannie Mae and Freddie Mac...Read More
In a Move to Boost Liquidity, Ginnie Will Update ‘Acknowledgment’ Agreement July 25, 2016 Paul Muolo Several large banks accept the current acknowledgement agreement, while others avoid it like the plague.Read More
Greenwich-Based Investment Advisor Reveals 8.3 Percent Stake in PHH July 25, 2016 Paul Muolo Who is Silver Point and why does it now own so much of PHH?Read More