Richey May: Two-Thirds of Mortgage Firms Added Staff in 3Q14 December 4, 2014 Paul Muolo The fourth quarter of 2014 is turning out to be decent in terms of applications and pipelines.Read More
Short Takes: Origination Profits Down 6 Percent / Black Knight: Foreclosure Inventory Continues to Head South / Underwater GSE Inventory / Purchase-Money Stand-Outs According to IMF / UWM Names Chief Digital Officer December 4, 2014 Paul Muolo If you’re looking to buy a foreclosure for a quick “flip,” you might want to act quickly. Inventory is shrinking rapidly...Read More
Some Nonbanks Post Spectacular Growth in Correspondent Lending December 3, 2014 John Bancroft and Paul Muolo As one West Coast-based mortgage executive told IMFnews: “It can be a very tough space. You need lots of capital."Read More
PennyMac Jumps Into Multifamily and Small-Balance Commercial Loan Market December 3, 2014 Paul Muolo Eventually, PMFS hopes to securitize its originations through PMMIT. Initially, its maximum loan amount will be $10 million,Read More
Short Takes: Mortgage Job Outlook for 2015: Go With the Nonbanks / Thanksgiving Gives Mortgage Business Indigestion / Warehouse Execs Flock to Trade Show / Questions Raised on New Warehouse Firm / HUD Finally Gets #2 December 3, 2014 George Brooks and Paul Muolo We’ve heard scattered reports about a new nonbank warehouse provider that is offering extremely cheap financing while asking for large fee payments upfront...Read More
Hedge Fund Glenview Increases Stake in PHH Corp. December 2, 2014 Paul Muolo At 7.59 percent, the hedge fund is now the third largest institutional investor in PHH.Read More
IMA and Phoenix Announce New Bulk MSR Deals December 2, 2014 Paul Muolo The IMA package – top heavy with California and Florida loans – includes $110.8 million of Ginnie Mae receivables.Read More
Short Takes: Special Servicers Beat Banks on Distressed Mortgages… / One Caveat Though / Looser Mortgage Credit? Hah! / Northrim Closes M&A Deal / Former Freddie Official Lands at StoneHill December 2, 2014 Paul Muolo and Thomas Ressler A new poll from IMFnews and Inside Mortgage Finance suggests that lenders are hardly optimistic that the R&W changes will amount to anything. Read More
Mortgage Industry Braces for Nonbank Capital ‘Standards’ From State Regulators December 1, 2014 Paul Muolo Mortgage bankers are concerned about what the CSBS is up to and how binding its recommendations will be. Read More
Ocwen’s Consent Order with the NYDFS Expires Dec. 5; Then What? December 1, 2014 Paul Muolo The original consent order was dated Dec. 5, 2012, establishing the compliance monitor and more.Read More