Paul Muolo

MBA: Lower Lending Profits, and Fewer Firms Making Money

April 18, 2018

An ominous sign: 80 percent of mortgage companies surveyed earned a pre-tax financial profit for the year, compared to 94 percent tin 2016.

Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

April 18, 2018

Paul Muolo and Carisa Chappell

As a practice, IBM rarely says a word about Seterus...

Ditech Finally Releases 4Q17 Results – A Loss and a Warning About 2018

April 17, 2018

Paul Muolo

Ditech added that under new leadership, the lender/servicer “continues to develop and execute various strategies to improve” its performance.

Nationstar CEO Jay Bray Cleared for a $4.25 Million Bonus

April 17, 2018

Paul Muolo

CEO Jay Bray was eligible for a maximum bonus of $6.90 million…

Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac

April 17, 2018

Paul Muolo and Brandon Ivey

Is Bank of America doing a slow fade on mortgages?

A Steep 1Q18 Decline in Residential Production for BofA

April 16, 2018

Paul Muolo

BofA also produced $3.75 billion of home equity loans in the first quarter...

Pershing Square Doubles Down on its GSE Bets

April 16, 2018

Paul Muolo

In the 2017 annual report, Pershing Square lists Fannie and Freddie common among its “losers…”

Stearns Holdings Wants to Retire $80 Million Worth of High-Yielding Paper

April 16, 2018

Paul Muolo

Finance of America’s new president is industry veteran Bill Dallas.

Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

April 16, 2018

Paul Muolo

Watt’s term expires in early 2019. President Trump is not expected to nominate him to another term. Then again...

Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least)

April 13, 2018

Paul Muolo

MB Financial plans to keep originating home loans in the greater Chicago area and will keep its mortgage servicing platform intact.

Paul Muolo

ARTICLES

MBA: Lower Lending Profits, and Fewer Firms Making Money

Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

Ditech Finally Releases 4Q17 Results – A Loss and a Warning About 2018

Nationstar CEO Jay Bray Cleared for a $4.25 Million Bonus

Short Takes: Bank of America Kisses Mortgage Banking (Reporting) Goodbye / When MSR Cash Flow Becomes ‘Immaterial’ / The Eye of the Beholder / Tossing Mortgage Stuff Overboard / Redwood on an MBS Hot Streak / Leaving loanDepot for Impac

A Steep 1Q18 Decline in Residential Production for BofA

Pershing Square Doubles Down on its GSE Bets

Stearns Holdings Wants to Retire $80 Million Worth of High-Yielding Paper

Short Takes: Watt Looks Back / Will Trump Shock the Mortgage Industry and Give Him Another Term? / LenderLive Buys Vendor, More Deals in the Works? / A New Director for Freddie Mac

Chicago Bank Pulls the Plug on National Residential Lending, Will Take a $37 Million Hit (At Least)

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