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Paul Muolo

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UMBS 15-Year Coupon Falls to 1.5%. Do I Hear 1.0%?

August 6, 2020

It’s here: A mortgage-backed security, 15-years in duration, that pays investors a note rate of 1.5%. Would you lock up your money for that long? You may not have a choice.

Nationstar Sells Short-Term Paper at 5.50%. Who’s Next?

August 6, 2020

Paul Muolo

Investors continue their attraction to mortgage-related offerings, debt or otherwise. The latest firm to saddle up to the capital markets bar: Mr. Cooper.

Short Takes: Now That You’re Public / Rocket’s Day in the Sun / Meanwhile, Over at PennyMac / Not Everyone Likes U.S. (Residential) Real Estate

August 6, 2020

Paul Muolo

A new 52-week high for PennyMac Financial Services? Looks that way.

The FHA MMIF Has $72 Billion at Its Disposal. Will it Be Enough?

August 6, 2020

Paul Muolo

With FHA late payments accelerating in the wake of the coronavirus pandemic, all eyes turn to the financial health of the Mutual Mortgage Insurance Fund. Is it time to worry?

Rocket Goes Public at Reduced Price, CEO Eyes 25% Market Share

August 6, 2020

Paul Muolo

It's official: Rocket (Quicken) is now a public company, well at least part of it is...

Rocket Goes Public at Reduced Price, Farner Eyes 25% Market Share

August 6, 2020

Paul Muolo

The much-anticipated IPO of origination market leader Rocket Companies commenced Thursday morning but at a reduced offering price. Surprising? Not really, but some analysts are worried about lending volumes for 2021 and beyond.

Grapevine: A Boom with Long Legs? / Ocwen’s Worry List

August 6, 2020

Paul Muolo and Brandon Ivey

How long might the refi boom last? Answer: Into 2021, at least. Meanwhile, Ocwen doesn't rule out a sale.

Short Takes: Ocwen Still Pondering a Sale / ‘Remaining’ Regulatory Problems / Potential in Tough Times / Warren Believes in BofA / The Return of Verus / Seconds For Sale / Applications Decline

August 5, 2020

Paul Muolo and Brandon Ivey

In its favor, Ocwen recently posted a small profit and is a “scratch and dent” specialist that could benefit greatly if delinquencies in the COVID-19 era spin out of control…

Signs of Life in Bulk Servicing Sales but Bids Remain Weak

August 5, 2020

Paul Muolo

Investment bankers point to the obvious: Bid prices are hardly enticing, especially with 30-year fixed-rate loans being offered at 3.0% or less...

A Small Profit for MGIC in 2Q20 but Delinquency Inventory Soars

August 5, 2020

Paul Muolo

However, despite the bad news on late payments and set-asides, MGIC wrote new insurance on $28.2 billion of residential product, an impressive sequential gain of 55.5%.

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