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Paul Muolo

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Short Takes: The Gravity Defying DJIA / Still, Low Rates / Blame the Fed / Handicapping the Action / A 2019 Blowout? / Citi’s Missteps on Flood Insurance

January 22, 2020

Something to think about: What if Trump doesn’t get reelected? Will the Dow react differently under a President Warren or Sanders than it would a Biden or Bloomberg? Whatever happens, it won’t be boring…

Radian Sells Due Diligence Unit Clayton – At a Loss

January 22, 2020

Paul Muolo

Radian bought Clayton in 2014, paying a hefty $305 million for the business, a price that many observers thought was a bit rich.

Short Takes: A Need for MSR Financing / Understanding the Spread Between Mortgages and Treasuries / AIG Preps Jumbo MBS / Angel Oak Hires Ally Executive

January 21, 2020

Paul Muolo

An affiliate of AIG is prepping a $430.42 million jumbo MBS deal...

IMA Selling $4 Billion-Plus of Agency MSRs

January 21, 2020

Paul Muolo

The portfolio is top heavy in Texas product at 50.1%.

GSEs Tops Among Mortgage Stocks in 2019

January 21, 2020

Paul Muolo

No other mortgage stocks came close but there were strong valuation gains from PennyMac Financial Services, up 60% for the year, and in the mortgage insurance sector.

Conventional NBs Can’t Go Public but Nonprime Firms Can (Now)

January 17, 2020

Paul Muolo

Velocity Financial went public on Friday, a somewhat rare event for a nonbank lender and an even rarer happening for a nonprime shop. That said, are more deals on the way?

Short Takes: A Significant Event: Nonbank Goes Public / How? / Answer: PIMCO / The Low End of the Range / Evolve Hires Due Diligence Veterans

January 17, 2020

Paul Muolo

Nonbanks have been in the IPO wilderness for far too long...

Mortgage Hiring Slows a Bit but the Desire is There

January 17, 2020

Paul Muolo

A new reading on mortgage employment from the federal government was barely positive but interviews conducted by Inside Mortgage Trends suggests that plenty of lenders need workers.

In the Secondary Market, Non-QM Prices Get Frothy

January 16, 2020

Paul Muolo

Secondary market investors, especially hedge funds and private equity firms, are bidding up the price of non-qualified mortgages. That’s good news for sellers, but can it last?