Short Takes: Hedge Fund Reduces (Slightly) its Stake in Ellington / Ocwen Reps Will Speak Japanese / U.S. Bank Likes HELs / DocMagic Signs Up Mid America / CMLA Names New Chair September 22, 2015 Brandon Ivey and Paul Muolo Most of Ocwen’s back-office workers are overseas in India and the Philippines where call center workers make much less than their U.S. counterparts.Read More
PIMCO Buys a Stake in First Guaranty Mortgage Corp., a $4 Billion a Year Lender September 21, 2015 Paul Muolo Early this year, PIMCO was in talks to buy RoundPoint Mortgage, a top 25-ranked servicer, but the transaction fell apart.Read More
Phoenix Offering Flow Servicing Rights Tied to GSE and Ginnie Product September 21, 2015 Paul Muolo The Fannie/Freddie loans are dominated by Florida mortgages at 32 percent of the flow.Read More
Short Takes: Subservicer Up For Grabs / Rental Homes Merger / Michigan Mutual Hunts for Branches / Ocwen Keeps Paying Down Debt / FHFA Wants GSE Documents Out of the Public’s View September 21, 2015 Carisa Chappell and Paul Muolo Ocwen Financial continues to sell servicing rights and pay down debt. But its stock price isn't moving very much.Read More
What We’re Hearing: Former GSE Regulator No Fan (Still) of Fannie and Freddie / Falcon’s Prediction Didn’t Come True / Wilbur Ross Must Have the Touch / Man Buys Bank / Wells Sends FHA Another Message September 18, 2015 Brandon Ivey and Paul Muolo If the CEOs of Fannie and Freddie get their raises reversed, what will they do?Read More
Nation’s 11th Largest Originator loanDepot Contemplating an IPO? September 17, 2015 Paul Muolo loanDepot founder and CEO Anthony Hsieh is well known for starting companies, building them up and then selling them.Read More
Optimism on Loan Originations Begins to Wane September 17, 2015 Paul Muolo A few weeks back when the poll was first launched the results were more optimistic, but... Read More
Short Takes: Don’t Expect Fannie & Freddie Employees to Stage a ‘Walk Out’ / Who is This Guy? / Another Large NPL Sale for Freddie / Ocwen’s Ever Changing Moods / A New CFO for Auction.com September 17, 2015 Brandon Ivey and Paul Muolo What do Fannie/Freddie officials say about the walk-out? They were amused at the effort but declined to comment on-the-record. Read More
Mortgage Employment Holds Steady; Fewer Layoffs This Fall? September 16, 2015 Paul Muolo Paul Hindman of Grid Origination Services noted that any public company CEO who does not deliver on performance mandates “is at risk, more so than ever in today’s market.”Read More
Flagstar Recently Tried to Sell $10 Billion of MSRs. But Did the Deal Close? September 16, 2015 Paul Muolo Over the past few years, Flagstar has been a selective seller of mortgage servicing rights, lopping off packages as large as $40 billion.Read More