Nonbank Selling $1.34 Billion of GSE and Ginnie Mae MSRs March 16, 2015 Paul Muolo Texas is well represented in the bulk package being offered by Phoenix Capital.Read More
Short Takes: So, Who’s The Lucky Captive (REIT) Approved for FHLB Membership? / 23 Responses on the CSP / Fannie Headed Downtown / Comergence Gets New Assignment March 16, 2015 Carisa Chappell and Paul Muolo The captive insurer is owned by a REIT, a spokeswoman for the district bank said, but declined to name either. Read More
Pricing on ‘Flow’ Servicing Softens, But for How Long? March 13, 2015 Paul Muolo Sources contend that Nationstar Mortgage has ceased bidding on flow deals, preferring to shop for bargains in the conventional bulk market.Read More
What We’re Hearing: Why Lenders are Suspicious of Realtors / So, What’s Wrong with a Gratuity? / The State Audited My Company and All I Got Was This Lousy Bill for Hotel and Transportation / A ‘Good’ LO Works at Least 50 Hours a Week March 13, 2015 Paul Muolo This mortgage manager estimates a “good” LO works 50 to 70 hours a week…Read More
Heading for the Exits: Lenders That Have Been in Business 20+ Years March 12, 2015 Paul Muolo A major snag on getting deals completed is the "earn-out" agreement.Read More
Short Takes: Trade Group Wants G-Fees Cut Now / As for Fannie & Freddie Legislation… / What Does Ocwen Do With All That Cash? / Maine Republican Worries about MMIF March 12, 2015 George Brooks, Brandon Ivey, and Paul Muolo Most people who are not in straight-jackets believe the chances of GSE reform by 2016 are pretty much zero. Just in case you were wondering and needed a reminder…Read More
New Entrant to Mortgages A Bit Unusual: A Buyer of Lottery Winnings March 11, 2015 Paul Muolo A major cross-selling opportunity? A report from Credit Suisse notes that, “Every month, JGW receives over 60,000 inbound calls from consumers…” Read More
Solutions to the LO Overtime ‘Problem’ Being Weighed March 11, 2015 Paul Muolo When it comes to mortgage overtime, management might just say "no."Read More
Short Takes: LO Overtime Pay: Just Say No / Always Working? / FHFA Critical of Fannie’s Audit Committee / Fitch Rates Rushmore / Mystery Over Spike in Ocwen’s Share Price March 11, 2015 Brandon Ivey and Paul Muolo The Supreme Court decision on overtime pay for loan officers is just over 48 hours old, but already some companies are fearing the worst...Read More
PHH’s Ticking Time Bomb: the Merrill Lynch Private-Label Contract March 10, 2015 Paul Muolo The early betting is that PHH will hold onto the Merrill contract, but in mortgage banking, anything can happen...Read More