Freddie Posts Meager Earnings of Just $227 Million, but Says Not to Worry, It’s All About Derivative Accounting February 19, 2015 Paul Muolo After Freddie Mac makes its next dividend payment in March to the U.S. Treasury, the GSE will have returned $91.8 billion to the government versus financial assistance draws of $72.3 billion. Read More
Freddie Mac Working on New Non-performing Loan Auction February 19, 2015 Paul Muolo Fannie Mae has explored NPL auctions, but has yet to pull the trigger.Read More
Short Takes: Stearns Hires Executive Away From Wells Fargo / LOs in the Dumps Over Their Careers? / $1.35 Trillion in Originations This Year? / FHFA Official Bolts for Collingwood February 19, 2015 Paul Muolo Manna from heaven? Roughly 87 percent of LOs expect residential production to exceed 2014’s volume…Read More
PHH Posts a Loss, Declining Revenue and Lower Originations; The Merrill Contract? February 18, 2015 Paul Muolo Analysts who follow the company are keenly aware that the Merrill contract accounts for 29 percent of PHH’s annual production.Read More
Applications Drop by Double Digits; Suddenly, Some Nervousness on Rates February 18, 2015 Paul Muolo Warehouse lending executives interviewed by IMFnews the past week are reporting healthy usage rates from their nonbank clients...Read More
Short Takes: Would You Buy Ocwen Now? / MIAC Offering MSRs / Sindeo Secures Investment / Fannie Rolling Out New Version of DU / Clayton Hires Former Subprime Executive February 18, 2015 Brandon Ivey and Paul Muolo Ocwen’s massive servicing portfolio (roughly $377 billion in UPB) is worth more than the entire market capitalization rate of the company...Read More
Freedom Mortgage Close to Meeting Hiring Goal; May Hire Even More February 17, 2015 Paul Muolo Among originators, Freedom Mortgage ranks 10th. In 2014 it funded $23.63 billion, a 48 percent gain from the year prior.Read More
A $1.3 Trillion Year for Originations? February 17, 2015 Paul Muolo Compass Point hiked its purchase money estimate to $819 billion from $787 billion.Read More
Short Takes: Mortgage Lawyers Raking in the (Compliance) Dough / What’s With all the 13-Gs? / Ocwen’s Stock on a Tear. What? / Obama Gives a Shout-Out to Nationstar / A New Hire for Auction.com February 17, 2015 Brandon Ivey and Paul Muolo Ocwen’s share price has almost doubled! How’s that? Well...Read More
The MSR Quandary: Sell Now or Wait? Flow Bids Remain Strong February 16, 2015 Paul Muolo With rates low on current production, prices are strong for “flow” transactions.Read More