PHH Getting Ready to Unload Mortgage Servicing Rights? August 19, 2013 Paul Muolo PHH Mortgage may unload billions of dollars in housing receivables, while remaining as the subservicer on the underlying loans. Read More
Short Takes: Provident Top Ranked Table Funder in 2Q / Realty Giant Files to Go Public, Cites Mortgage Risks / Mini-Correspondent Programs Sprout Up / Ex-Fannie Executive Wants Justice, Privatization / How to Spy on the CFPB August 19, 2013 Paul Muolo and Thomas Ressler Mini-correspondent lending is hot, but wholesale may be on the decline. Surprise: RE/MAX files to go public.Read More
Report: 20 Percent Downpayment, Premium Recapture Gone From QRM Rule August 15, 2013 Paul Muolo FBR notes that a key provision in the draft QRM rule is that any mortgage securitized by Fannie or Freddie is automatically a QRM. Read More
Cole Taylor Mortgage Sale Heats Up August 15, 2013 Paul Muolo Cole Taylor Mortgage is talking to several semi-finalists that want to buy the company. Meanwhile, it's business as usual at the bank-owned lender.Read More
Short Takes: PennyMacs Recent NPL Deals Near $1 Billion / Cash-Out Refis Continue to Tank / MGIC Shows More Progress / MountainView Hopes to Capitalize on Mortgage M&A / Surprise: HUD Cancels Some Furlough Days August 15, 2013 George Brooks and Paul Muolo PennyMac is once again stepping up to the NPL plate with some major deals. Meanwhile, cash-out refis continue to dwindle.Read More
PennyMac Raising $248 Million in Equity, Will Buy Nonperforming Loans August 14, 2013 Paul Muolo The market did not react kindly to PennyMac's announcement about selling more shares of common stock. Read More
Bank of America Selling $22 Billion of Ginnie Mae MSRs August 14, 2013 Paul Muolo If you thought that Bank of America was done selling mortgage servicing rights, think again.Read More
Short Takes: Going, Going, Gone: GSE Buybacks? / CapWest Enters the Wholesale Arena / Redwood About to Reward Its Executives? / The Terrible Twos for the CFPB / Fannie Mae Hired Someone It Was Suing August 14, 2013 Paul Muolo and Thomas Ressler It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.Read More
FHFA Hires Spencer Stuart for Common Securitization Platform CEO Search August 13, 2013 Paul Muolo FHFA has handed over a list of CEO candidates to Spencer Stuart, which bills itself as an international recruiting firm with 54 offices in 29 countries. Read More
Wells Fargo Continues Retail Domination, Chase a Distant Second August 13, 2013 Paul Muolo Over the rest of the decade will any lender be able to challenge Wells Fargo's dominance in the retail channel? A new ranking suggests not.Read More