Paul Muolo

Non-Agency M&A Heats Up, Starwood Strikes Deal to Buy Luxury Mortgage

November 15, 2019

Since mid-September, four nonprime-related M&As have either been announced or have come to light through market sources: Deephaven Mortgage’s acquisition by Pretium Partners; Redwood Trust’s purchase of CoreVest American Finance and Citadel Servicing’s takeover by HPS Investment Partners. And now the Luxury deal.

When Originations are Strong, So Too is Hiring. Right?

November 15, 2019

Paul Muolo

Although residential loan production has been strong the past two quarters, mortgage hiring of new workers hasn’t exactly caught fire.

In a New SEC Filing, Fannie Mae Gets Vocal on FHFA Pay Caps

November 15, 2019

Paul Muolo

In a recent filing, Fannie Mae made clear its displeasure with the pay caps placed on the company by the FHFA and Congress. Interestingly, Freddie Mac had a more muted response.

Mortgage REIT Agrees to Buy Luxury Mortgage. MBS Anyone?

November 14, 2019

Paul Muolo

In another example of a REIT branching out, Starwood Property Trust has agreed to purchase a licensed lender/servicer. For now, all parties are mum but more deals may be afoot.

FHA MMIF Capital Ratio Tops 4.8%, Highest Since Crisis

November 14, 2019

Paul Muolo and George Brooks

It was a bravura performance for the FHA’s Mutual Mortgage Insurance Fund in fiscal 2019. The MMIF ended the year with a capital ratio of 4.8%, more than double the statutory minimum.

Short Takes: More from FHFA on GSE Compensation / Lobby Congress? Yes, Eventually / An Improving Picture for HECM Insurance / A Promotion at MGIC

November 14, 2019

Dennis Hollier, Paul Muolo, and George Brooks

FHFA Director Mark Calabria: "That might be fine for a normal company, but these are companies that are in conservatorship. They’re essentially in bankruptcy.”

FHA MMIF Capital Ratio Reaches 4.84%. HECMs Still a Drag but Improving

November 14, 2019

Paul Muolo

Based on third quarter figures compiled by Inside Mortgage Finance, FHA lending accounts for 10.17% of the overall first-lien origination market.

Non-Agency M&A Heats Up: Starwood to Buy Luxury Mortgage

November 14, 2019

Paul Muolo

The non-QM market has been so hot this year that M&A activity is beginning to pick up a head of steam. Luxury Mortgage is the latest lender to pull the sale ripcord. There could be more.

Fannie and Freddie Clearing the Decks for Eventual Stock Offering?

November 14, 2019

Paul Muolo

One of these days, the two mortgage giants will commence with a new stock offering. Right? The market seems to be betting on the fact, as are the government-sponsored enterprises.

Grapevine: Ocwen’s MBS Exposure / Good News on the FHA Front

November 14, 2019

Paul Muolo and Dennis Hollier

Ocwen Financial may have some MBS-related exposure, according to a new regulatory filing. Also, FHFA Director Mark Calabria opens up some more about the business practices of Fannie and Freddie.

Paul Muolo

ARTICLES

Non-Agency M&A Heats Up, Starwood Strikes Deal to Buy Luxury Mortgage

When Originations are Strong, So Too is Hiring. Right?

In a New SEC Filing, Fannie Mae Gets Vocal on FHFA Pay Caps

Mortgage REIT Agrees to Buy Luxury Mortgage. MBS Anyone?

FHA MMIF Capital Ratio Tops 4.8%, Highest Since Crisis

Short Takes: More from FHFA on GSE Compensation / Lobby Congress? Yes, Eventually / An Improving Picture for HECM Insurance / A Promotion at MGIC

FHA MMIF Capital Ratio Reaches 4.84%. HECMs Still a Drag but Improving

Non-Agency M&A Heats Up: Starwood to Buy Luxury Mortgage

Fannie and Freddie Clearing the Decks for Eventual Stock Offering?

Grapevine: Ocwen’s MBS Exposure / Good News on the FHA Front

Latest Imf News

Depository Share of GSE Servicing Increases in 1Q

Margins Increase at AmeriHome Owner in First Quarter

Brokers Look to Reduce Credit Report Costs

Annaly Turns Profit in First Quarter Despite Agency MBS Issues

Featured Data

GSE Deliveries Weaken in First Quarter of 2026

GSE Lenders Stretch Credit Envelope in First Quarter

Bank Sales of Mortgages Rise to 2022 Level at End of 2025

Structured Finance Market Keeps Momentum Going

Featured Reports

GSE Repurchase Activity: Cumulative Through Fourth Quarter 2025 (PDF Format)

Mortgage Profitability Report 4Q25 (PDF)

Agency Channel Analysis: 4Q25 (PDF)

Mortgage Servicing Rights Report: 4Q25 (PDF)

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?