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Paul Muolo

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Megabanks’ Originations Weak, MSR Values an Issue

January 18, 2019

The nation’s megabanks reported weak origination figures and non-cash writedowns on their servicing assets for the fourth quarter. Wells Fargo, JPMorgan Chase, and USB suffered the most. [Includes one data chart.]

Ditech Gets a Breather from Its Note Holders (For Now); COO Terminated

January 17, 2019

Paul Muolo

Ditech also terminated the employment of Chief Operating Officer Ritesh Chaturbedi.

Mortgage Employment Falls to 10-Month Low

January 17, 2019

Paul Muolo

Conventional lenders will have a tougher time of it this year...

Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton

January 17, 2019

Brandon Ivey and Paul Muolo

The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...

Residential Lending Declines for Both BofA and U.S. Bank

January 16, 2019

Paul Muolo

A top ten lender, U.S. Bank produced $9.1 billion of mortgages in 4Q18, a 19.1 sequential decline...

Ginnie Mae Postpones Annual Summit, Citing Government Shutdown

January 16, 2019

Paul Muolo

Scheduled speakers included Housing and Urban Development Secretary Ben Carson, Kasper and Edward DeMarco, former acting Director of the Federal Housing Finance Agency.

Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending

January 16, 2019

Paul Muolo

Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.