Residential Lending Down at EverBank, Commercial Lending Up January 27, 2016 Paul Muolo Meanwhile, servicing income at EverBank fell 26 percent to $26.9 million. Gain-on-sale revenue also fell 26 percent – to $24.7 million.Read More
Short Takes: Relief for the MI Industry? / The GOP Would Love to Cut HUD’s Staff / FHA Under Bernie Sanders? / WinWater’s New Jumbo MBS / AIG Finally Comes Clean on UG January 27, 2016 Brandon Ivey and Paul Muolo The House Financial Services Committee also has some unkind words for the Department of Housing and Urban Development and its 7800-plus workers...Read More
Flagstar Admits TRID was a Problem; Originations Down 26 Percent in 4Q January 26, 2016 Paul Muolo Mortgages sold and securitized by Flagstar fell 29.4 percent. Read More
Short Takes: Flagstar’s Best Year Since 2003 / Depositories Not So Aggressive in Table Funding (Still) / Genworth’s Share Price Continues to Suffer / Arch Among Fast-Growing MI Firms / DB’s MBS Research Chief Departs January 26, 2016 Paul Muolo Flagstar is the largest depository remaining as a table funder of mortgages through loan brokers...Read More
MBS Liquidity Falls to a New Low… January 26, 2016 Paul Muolo As a structural matter, the bank is moving the operation from its “securitized products” group to “macro trading.”Read More
AIG Plans to Spin Off Top-Ranked MI in a Tough Market for Mortgage Stocks January 25, 2016 Paul Muolo A change of control of a mortgage insurance firm would need the approval of Fannie Mae or Freddie Mac...Read More
Short Takes: Quicken Taps Microsoft Executive for Strategy Post / Mortgage Technology Innovators? / NY and NJ a Problem for Freddie Mac / Stonegate Mortgage Hires SW Regional Manager January 25, 2016 Paul Muolo Besides Quicken, loanDepot has been mentioned as an innovator when it comes to new using new technologies...Read More
Plunge in Oil Prices Causing Lenders to Tighten Underwriting? Hardly… January 23, 2016 Paul Muolo New foreclosure figures compiled by RealtyTrac suggest Texas and Oklahoma could be in for some minor bumps along the road.Read More
Freddie Unveils First NPL Auction of 2016: $1.6B of Loans Serviced by NSM; At Least $7.1B Queued Up? January 23, 2016 Paul Muolo The NPLs that Freddie Mac wants to sell currently are being serviced by Nationstar Mortgage.Read More
What We’re Hearing: Lower Expectations for MSR Sales / A Pivotal Quarter for Ocwen, Nationstar, Walter? / More Call Centers, Less Branches? / Can Loan Officers Be Replaced by Computers? / About that New Refi Boom… January 22, 2016 Paul Muolo There is also a school of thought that going forward, loan officers won’t be needed as much because of new origination technologies...Read More