Short Takes: New Business Tumbles / A Volatile Time / Another Loss for SoFi…But Positive EBITDA / A New Hire for Mortgage Connect February 1, 2023 Paul Muolo SoFi funded $105.5 million of mortgages in the fourth quarter...Read More
NYCB Unveils Massive Mortgage Restructuring Plan, Will Reduce Coverage by Almost 70% January 31, 2023 Paul Muolo In the fourth quarter, NYCB earned $172 million compared to $152 million in 3Q22...Read More
Short Takes: Staying In TPO / An Old M&A Deal That Fell Apart / Rocket and HELOCs / The HPI Goes Negative / Impac Must Pay Up January 31, 2023 Paul Muolo and Brandon Ivey Trouble ahead? The Federal Housing Finance Agency’s home price index went negative (though barely) in November...Read More
Reduced Opportunities in Ginnie EBOs January 30, 2023 Paul Muolo Aided by cheap money and ultra-low mortgage rates, Ginnie EBOs could pad quarterly earnings...Read More
A New Permanent CEO for Nation's Largest Subservicer January 30, 2023 Paul Muolo Daras worked for Cenlar from 1985 to 1990 before departing as CFO to join Dime Bancorp.Read More
Short Takes: The Next Rate Hike From the Fed / Nonbank Mortgage Stocks? / Warehouse CEO Gets Contract Extension / Added: Indecomm / 44 Months For Fraud January 30, 2023 Paul Muolo All eyes will be on the FOMC this week...Read More
Signs of Residential Finance Reaching a Bottom? January 27, 2023 Paul Muolo While 58 cents on the dollar is hardly a ringing endorsement, mortgage shops will take any improvement they can get.Read More
Radian Cuts Severance Deal With Departing CFO January 27, 2023 Paul Muolo "It's our goal is to fill this important position with the right candidate and the search is well underway," a company spokesman said.Read More
Short Takes: The Origination Count for 2022 / UWM #1 Again / Silvergate Cuts Dividend / LOC Renewal for Angel Oak / A New Correspondent Hire for West Gate January 27, 2023 Paul Muolo and Sam Manas The Angel Oak REIT has renewed one of its borrowing lines...Read More
The Ginnie Mae EBO Game: Shrinking Opportunities January 26, 2023 Paul Muolo Thanks to rising rates and sagging home values, early buyouts from Ginnie MBS are starting to look long in the tooth. Opportunities are out there, but are not for the faint of heart. (Includes data chart.)Read More