Merrill Lynch Tells PHH to Take a Hike on Private-Label Contracts; Stock Clobbered April 11, 2016 Paul Muolo PHH isn't saying much on the touchy subject of Merrill Lynch at this time...Read More
Short Takes: The ‘Banksters’ Aren’t Going to Jail But They Are Paying Through the Nose (Goldman Sachs) / CFPB Chief Cordray Tries to Clear the Air on TRID ‘Cures’ / Nation’s Largest Mortgage REIT to Buy Another / Two New Directors for Fannie Mae April 11, 2016 Brandon Ivey and Paul Muolo Associate Attorney General Stuart Delery: “This resolution holds Goldman Sachs accountable for its serious misconduct..."Read More
Wells Fargo Agrees to Pay U.S. Record $1.2 Billion to Settle Allegations of FHA Fraud April 9, 2016 Paul Muolo As recently as this past summer, there was talk in the industry that Wells Fargo might counter-sue the government...Read More
Blackstone May Take its SFR Platform, Invitation Homes, Public April 8, 2016 Paul Muolo Blackstone’s SFR unit, Invitation Homes, appears to be the market leader with 50,000 rental units nationwide. Read More
What We’re Hearing: Hot Commodities: Mortgage Call Centers? / Morningstar Says Chillax on TRID / MBA’s Chief Dave Stevens: It’s Not Just ‘Bellyaching’ / Do or Die Time For Ocwen? / Carol Galante Will Earn How Much at Ocwen? / Casey Crawford Scores, Again April 8, 2016 Paul Muolo The mortgage industry is still demanding “formal” guidance from the CFPB on TRID and will accept nothing less.Read More
1Q16 Has Ended. A Good Quarter for Most or More Servicing Markdowns? April 7, 2016 Paul Muolo Dallas, who has been a mortgage banker since the 1980s, added that earlier in the year Skyline “battened down the hatches…”Read More
Five Oaks Won’t Renew $125 Million Repo Line With CS. Line Used to Buy Jumbos April 7, 2016 Paul Muolo The Five Oaks stock – which trades for roughly $5.65 a share – carries a hefty yield of 12.86 percent. Read More
Doesn’t Sound Like RoundPoint Mortgage is for Sale Anymore April 7, 2016 Paul Muolo At yearend, RoundPoint had $14.9 billion in subservicing contracts. It now has almost $22 billion. Read More
Short Takes: CFPB’s Richard Cordray: I’m Listening / Trade Group Chiefs Weigh In on TRID / Denmark Dixon, Walter’s $6 Million Man / White House’s Stegman on GSE Reform / New Hires for Lender Live April 7, 2016 Carisa Chappell and Paul Muolo White House advisor Michael Stegman: It's not easy building a government corporation...Read More
A Ton of Servicing Deals Hit the Auction Calendar. Can They All Get Done? April 6, 2016 Paul Muolo One servicing broker had this to say about the all the new offerings: “There’s a lot of deals out there now – and they seem to be getting done.”Read More