Continued Stock Market Swoon Could Spell More Refis September 1, 2015 Paul Muolo Moreover, one warehouse executive told IMFnews that he is beginning to get requests for increased capacity. Read More
Short Takes: A New Round of Cost Cutting at Stonegate? / No, the White House is Not About to Settle Those ‘Takings’ Cases / Greed is (Still) Good / Lykken Goes Solo, Sort Of / Comergence Hires Giorello September 1, 2015 Paul Muolo Pershing Square and Perry Capital began loading up on GSE “junior” preferred two years ago, but not because they thought it was a great investment...Read More
Jim Cutillo out as CEO of Stonegate Mortgage; Maybe a Sale is the Solution? August 31, 2015 Paul Muolo In a statement, Stonegate said Cutillo will be “redirecting” his “entrepreneurial energy on a new endeavor going forward.”Read More
Mortgage Gain-on-Sale Margins Coming Under Pressure: Compass Point August 31, 2015 Paul Muolo According to a new report from Compass Point Research & Trading, a gain-on-sale index the firm created has been contracting the past month...Read More
Short Takes: Will Trump Touch the Sacred Mortgage Interest Deduction? / Investors Shrug at Cutillo Resignation / Stonegate Too Cheap To Resist? / Atlantic Bay Hits 500-Employee Mark / Good News for MF Lenders, Bad News for Renters August 31, 2015 Paul Muolo The resignation of Stonegate Mortgage CEO Jim Cutillo didn’t do much for the stock price of the company Monday. Read More
What We’re Hearing: Will Banks Ever Return to Wholesale? / $354 Million for Stearns Lending? / Eventually, There Will be a Merger / The Dave Stevens ‘Flip-Flop’ Controversy / MBA’s Top Paid Consultants August 28, 2015 Paul Muolo What do nonbanks think about depositories avoiding the wholesale/broker sector? They love it.Read More
MBA Sees ‘Profit’ Rise 44.3 Percent in FY 2014; Stevens Takes Home $1.6 Million August 27, 2015 Paul Muolo For the year ending Sept. 30, 2014 MBA took in revenue of $51.9 million versus $39.1 million in expenses for a net profit of $12.7 million.Read More
Manhattan Mortgage Founder Melissa Cohn Launches New Company August 27, 2015 Paul Muolo Although Manhattan Mortgage operated mostly as a loan broker, a press statement from MC Home Loans describes the new company as a “banker.”Read More
Short Takes: Fannie Gets the Origination Blues / Hopefully, It Won’t Come True / Marix Gets Freddie Approval / Freddie Grows. Don’t Tell FHFA / MIAC Hires Trading Desk Chief August 27, 2015 Paul Muolo If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…Read More
A ‘New York State of Mind’ on LO Approvals: Like Molasses August 26, 2015 Paul Muolo A spokesman for the NYDFS admitted that, “We’re constantly trying to improve our processing times, but we know that we have a lot of work to do..."Read More