Ocwen’s Exit from Agency Servicing Could be a Very Long Goodbye January 13, 2015 Paul Muolo Meanwhile, new revelations about regulatory problems in California are likely to make Ocwen’s disposal of servicing rights problematic.Read More
California Cites Document Request Delays at Ocwen, May Suspend the Lender/Servicer January 13, 2015 Paul Muolo For short sellers, Ocwen Financial is the gift that keeps on giving. Read More
Short Takes: JPM Touts Correspondent Channel / CFPB Chief Cordray Says the Sky Did Not Fall / What? / Supreme Court Deals Blow to RBS, Nomura January 13, 2015 Paul Muolo and Thomas Ressler Despite Cordray's proclamation, loan production fell by 35 percent last year, but all that was tied to refis plunging. Right?...Read More
Short Takes: Five Oaks Cuts New Repo Deal with BofA / Ocwen’s ‘Clean-up’ Calls / More Intel on Never Meeting the Customer / We Like Our Debt Just the Way It Is January 12, 2015 Paul Muolo “I only saw about 5 percent of my buyers face-to-face last year,” said one Texas-based loan officer. Read More
Want to Make Money as a Loan Officer? Don’t Work at a Bank January 11, 2015 Paul Muolo How much a loan officer earns can be determined by where his/her leads come from.Read More
Mortgage M&A Outlook: Plenty of Buyers, Not So Many Sellers January 9, 2015 Paul Muolo Since early September, at least 14 mortgage company acquisitions have been announced publicly, according to a database of deals compiled by Inside Mortgage Trends. Read More
What We’re Hearing: The FHA Fix Was in at the White House / 40-Plus Trade Groups Can’t be Wrong? / National Sales Director Out at Top-Ranked Retailer / A New Cash-Out Refi Loan That Might Surprise You / Do You Ever See the Customer Anymore? January 9, 2015 Paul Muolo The national director of retail sales at a top-20 ranked lender is out in the cold. Details to follow...Read More
Impac Inks Deal to Buy Mortgage Division of CashCall January 8, 2015 Paul Muolo In 2013, CashCall sold roughly $10 billion of residential servicing rights – a sale that may have been forced by Fannie Mae, sources told IMF.Read More
Impac Inks Deal to Buy Mortgage Division of CashCall January 8, 2015 Paul Muolo A spokesman for Impac said the purchase price will be disclosed “when the final docs are filed.” Read More
House Banking Chair Weighs in on FHA Premium Cut, Calling it a ‘Grave Mistake’ January 8, 2015 Paul Muolo Lowering premiums now would only put the FHA MMIF further behind, the House Financial Services Committee chairman argued.Read More