The Mortgage IPO Market is Dead – For Now July 22, 2015 Paul Muolo Some consultants and analysts would add Stonegate Mortgage to the list of negatives weighing on the mortgage equities market.Read More
The Battle Continues Over Extending the 10-Basis-Point G-Fee ‘Tax’ July 22, 2015 Paul Muolo It appears that Democrats just won't give up on trying to tap guaranty fee revenue.Read More
Short Takes: Originations to Foreign Nationals Booming? / A Profit and LPMI Figures from Radian / Things Looking up at Ocwen? / An MPF First July 22, 2015 George Brooks, Brandon Ivey, and Paul Muolo Who says the future looks bleak for Ocwen Financial? Not Sterne Agee CRT...Read More
Phoenix Selling $1 Billion Ginnie Mae MSR Portfolio July 21, 2015 Paul Muolo The loans are being serviced in-house by the seller on a Black Knight servicing system.Read More
Fitch Changes ‘Outlook’ Rating on RoundPoint to Negative, Citing ‘Corporate Restructuring’ July 21, 2015 Paul Muolo To date, RoundPoint has declined to discuss the sale process or much of anything else with the media.Read More
Short Takes: Some Details on LPMI Volume and Discounting / Happy Birthday to the CFPB and Dodd-Frank? / Do Mortgage Firms Need a Chief Risk Officer? / Annaly Gets a New CEO July 21, 2015 Paul Muolo and Thomas Ressler Happy birthday to the CFPB? Well, it all depends on which side of the mortgage table you sit on...Read More
Is the 25-Day Loan Closing a Myth? July 20, 2015 Paul Muolo One senior mortgage manager, who has been in the business for 25 years., said despite what lenders may say about closing times, actual experience is probably worse. “No one is closing under 30 days,” he said. “Most will be over 50 days.”Read More
Nonprime Lender Citadel on a Tear, Hires Correspondent Chief July 20, 2015 Paul Muolo To date, most of Citadel's mortgages have been sourced through loan brokers, but recently the company hired a correspondent manager, Alan Peviani...Read More
Short Takes: More Wholesalers Entering the Market? / Expanding from VA to FL / Cerberus Unit Readies ‘Seasoned’ MBS / When on PHH? / W.J. Bradley Exec Jumps Ship for Home Point July 20, 2015 Brandon Ivey and Paul Muolo A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...Read More
What We’re Hearing: Is Non-QM Lending a Bust? / The Pathos of Ethos / TRID May Delay Loan Closings by How Many Days? / Telling the Truth on Loan Closings / A Record Year, So Far, for United Wholesale / Little League 1, the CFPB 0 July 17, 2015 Paul Muolo During the first six months of 2015 UWM funded $6.78 billion. “It was our best six months ever,” CEO Mat Ishbia told IMFnews...Read More