Short Takes: The CSP is Costing How Much? / As for the Implementation Date… / Ocwen Loses Money on MSR Sale / Walter’s ‘Insurance’ Transaction? / A New Hire for MIAC September 16, 2015 Paul Muolo Technology, like MBS, can be complicated. Just read the new FHFA report…Read More
Ocwen Now Expects a Loss for 2015, Unveils Cost Cuts; Oh, and It Hopes to be a Top 10 Lender September 15, 2015 Paul Muolo Ocwen blames the anticipated loss on lower revenue and higher operating expenses.Read More
Ocwen Now Expects a Loss for 2015; More Layoffs Planned; Oh, and It Hopes to be a Top 10 Lender September 15, 2015 Paul Muolo According to figures compiled by Inside Mortgage Finance, Ocwen may have a long way to go in meeting its production dreams... Read More
Short Takes: Almost All GSE-Related Legislation is DoA / Don’t Kill the Golden Goose / Those Crazy Common Investors / The GSEs Are Worth $105 Billion? / Brian Webster’s Resume September 15, 2015 Paul Muolo In 2Q, the GSEs earned $8.8 billion combined. Multiply that by four (quarters) and then three (years) and you get $105.6 billion.Read More
Home Point Looks to Buy Servicing Rights, Add Another Retail Team September 14, 2015 Paul Muolo Recently, Home Point added a large retail lending team from Great Plains Bank and Newman promised that “we have another large retail team scheduled to come on in the next several weeks.”Read More
Nationstar Trademarks the Name ‘Mr. Cooper.’ But Why? September 14, 2015 Paul Muolo "Mr. Cooper" seems like an odd name for a mortgage company to trademark, but you never know...Read More
Short Takes: Skyline Aims to Reduce LO ‘Posses’ / The Coming Texas Housing Bust / Go With the Astros, Not the Cubs / MSR Deal From Prestwick / CRE Outlook From Auction.com / Ocwen, Not Made in America September 14, 2015 Paul Muolo Irony or good business?: Ocwen's mortgage customers are located in the U.S., but the back office staff processing their loans are mostly overseas.Read More
Concern Over Gain-on-Sale Margins Heats Up as Volumes Begin to Drop September 11, 2015 Paul Muolo As one jumbo securitization officialtold Inside MBS & ABS: “Gain-on-sale margins have been okay, but no one is buying a new boat.”Read More
What We’re Hearing: A Couple of Mortgage IPOs on the Way? / Profits are Still Good / $2B To Invest? / Heading for the Exits Because of the CFPB? / Lenders One Zeroes in on CEO Candidate / About Those GSE Pay Raises… September 11, 2015 Paul Muolo Regulatory fears are driving the desire by some owners/CEOs to exit the mortgage business, but we’ve heard that refrain before. Read More
Mutual Fund Giant Fidelity Reduces Ocwen Stake to a Fraction September 10, 2015 Paul Muolo Besides Fidelity, other institutional investors have slashed their holdings in the company, fearing that its best days are behind it.Read More