Mortgage Gain-on-Sale Margins Coming Under Pressure: Compass Point August 31, 2015 Paul Muolo According to a new report from Compass Point Research & Trading, a gain-on-sale index the firm created has been contracting the past month...Read More
Short Takes: Will Trump Touch the Sacred Mortgage Interest Deduction? / Investors Shrug at Cutillo Resignation / Stonegate Too Cheap To Resist? / Atlantic Bay Hits 500-Employee Mark / Good News for MF Lenders, Bad News for Renters August 31, 2015 Paul Muolo The resignation of Stonegate Mortgage CEO Jim Cutillo didn’t do much for the stock price of the company Monday. Read More
What We’re Hearing: Will Banks Ever Return to Wholesale? / $354 Million for Stearns Lending? / Eventually, There Will be a Merger / The Dave Stevens ‘Flip-Flop’ Controversy / MBA’s Top Paid Consultants August 28, 2015 Paul Muolo What do nonbanks think about depositories avoiding the wholesale/broker sector? They love it.Read More
MBA Sees ‘Profit’ Rise 44.3 Percent in FY 2014; Stevens Takes Home $1.6 Million August 27, 2015 Paul Muolo For the year ending Sept. 30, 2014 MBA took in revenue of $51.9 million versus $39.1 million in expenses for a net profit of $12.7 million.Read More
Manhattan Mortgage Founder Melissa Cohn Launches New Company August 27, 2015 Paul Muolo Although Manhattan Mortgage operated mostly as a loan broker, a press statement from MC Home Loans describes the new company as a “banker.”Read More
Short Takes: Fannie Gets the Origination Blues / Hopefully, It Won’t Come True / Marix Gets Freddie Approval / Freddie Grows. Don’t Tell FHFA / MIAC Hires Trading Desk Chief August 27, 2015 Paul Muolo If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…Read More
A ‘New York State of Mind’ on LO Approvals: Like Molasses August 26, 2015 Paul Muolo A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."Read More
Short Takes: About That Fed Hike in Rates… / Rates Under 4 Percent with No Points / But Apps are Flat – For Now / LA is Too Much for the Borrower / Auction.com Hires eBay Executive August 26, 2015 Brandon Ivey and Paul Muolo A quick check of rates this morning found that firms such as Sebonic and Aurora Financial were offering 30-year fixed-rate loans at 3.75 percent with no points.Read More
Mortgage Banking Solutions Selling Wholesale Lender August 25, 2015 Paul Muolo MBS Managing Partner Chuck Klein said the company in question owns at least $3 billion in mortgage servicing rights...Read More
MBA: Origination Profit at Independents Almost Flat in 2Q August 25, 2015 Paul Muolo The results are based on 354 lenders that submitted production data to the trade group.Read More