More ‘Boomer’ Mortgage Executives Working Well Past Retirement Age? December 23, 2015 Paul Muolo and Sherry Muolo None of the executives interviewed by Inside Mortgage Trends could put hard numbers on how many executives have been sticking around the industry past 70 years of age, but none had a doubt that there were still plenty to be counted.Read More
Subprime Lender Angel Oak May Fund $1 Billion in 2016 December 23, 2015 Paul Muolo In an interview with IMFnews, John Hsu talked about Angel Oak’s $150 million subprime deal, noting that there is a “huge amount of support for this.”Read More
Short Takes: TRID Nightmares Continued / ‘I’ve Aged Five Years in the Past Month’ / Freddie Contemplates Marketplace Lending: A Flash in the Pan? / Foreclosures Continue to Head South December 23, 2015 Carisa Chappell, Paul Muolo, and Sherry Muolo Sean Becketti, Freddie’s chief economist, said, “It's too soon to tell whether marketplace lending is the next Uber or just another flash in the pan…”Read More
PHH Files S-3 With the SEC, Lays the Groundwork for Some Type of Securities Offering December 22, 2015 Paul Muolo However, the new PHH filing does not contain the names of any underwriters, dealers or agents. Read More
Short Takes: How Many TRID Tech Updates? 99? / Ocwen Makes Another Payment / Rates Going Nowhere / Time for FHA Lenders to Use LEAP / Mortgage Exec Back With Guaranteed Rate December 22, 2015 Paul Muolo, Sherry Muolo, and Thomas Ressler At some lending shops, almost 100 TRID technology updates have been implemented...Read More
American Mortgage Consultants Buys JCIII; Creates Largest Due Diligence Firm? December 21, 2015 Paul Muolo No purchase price was disclosed. The deal was first hinted at Friday on IMFnews.Read More
Short Takes: Don’t Let Your LOs Prepare TRID Disclosures? / LO ‘Scorecards’ on the Rise? / REIT Sub Gets FHLB Membership / CoreLogic Buys Vendor for $475 Million / A New Hire for Home Point December 21, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo We’re hearing more chatter of mortgage lenders starting a loan officer “scorecard” approach to grading their salesmen and women...Read More
Merrill Lynch Renews PLS Contract with PHH – But This Time Around It’s a ‘Non-Exclusive’ Arrangement December 18, 2015 Paul Muolo The BofA spokesman, when asked by Inside Mortgage Finance whether the bank will deliver fewer loans going forward, declined to comment.Read More
What We’re Hearing: No Trouble or Big Maybe-Trouble for PHH? / The Key Bank Dilemma / Subprime Ready to Roar? / What’s a ‘Safe’ Level for Subprime? / Chronos in M&A Deal / TRID Fines of $5K Per Day Per Violation December 18, 2015 Paul Muolo Rod Alba of ABA offered up this sobering thought: for violating the TRID rule, lenders could be fined up to $5,000 per violation, per day. Read More
Look for TRID Compliance Exams by Mid-Year 2016; Fear of a Credit Crunch? December 17, 2015 Paul Muolo and Thomas Ressler The CFPB will scrutinize a lender's TRID training and, potentially its handling of early technical problems, said one webinar panelist...Read More