IG Sounds Warning: 87 Percent of HUD’s Tech Systems Near the End of Their ‘Life Cycle’; Math Problems Ensue… June 20, 2017 Paul Muolo The problem is so bad that HUD is having trouble doing mathematical calculations…Read More
Short Takes: Fed Vice Chair Fischer Says Go with the ‘Explicit’ Guarantee / Asking the Fed’s Opinion on GSE Reform? / FBR Bullish on MI / A Slight Pay Cut for MGIC’s CEO / Ocwen Hires Ex-Stonegate Executive June 20, 2017 Paul Muolo FBR believes continued changes at FHA will benefit private mortgage insurers... Read More
PHH Closes on Freddie Mac MSR Sale, Amends Contract June 19, 2017 Paul Muolo The Fannie Mae portion of the MSR sale is expected to close sometime in the third quarter.Read More
Short Takes: loanDepot Beefs Up Social Media Research / Fairholme Attorney on the Phone / Stated-Income Loan from Silver Hill / What Cowen Expects / Premium Title Grows Sales Team June 19, 2017 Carisa Chappell and Paul Muolo Fairholme is scheduled to talk about its investment in Fannie Mae and Freddie Mac...Read More
Meanwhile, Ginnie Mae is Still Without a Permanent President June 16, 2017 George Brooks and Paul Muolo Former Ginnie Mae president Ted Tozer stressed the importance of getting the post filled as soon as possible. “The way things are going, by yearend Ginnie will have $2 trillion of guarantees on its books,” he said.Read More
What We’re Hearing: What’s Movement’s Owner Going to Do with a Bank? / A Portfolio? / Just Don’t Pull a Countrywide / Bruce Berkowitz Plans to Ride it Out / Castle & Cooke, Mid America and PRMG All in a Hiring Mode June 16, 2017 Paul Muolo The betting is that Bruce Berkowitz and Fairholme plan to ride out their GSE investment to the very end.Read More
The Collingwood Group Ready to Make ‘Key’ Government Hires, But Who? June 15, 2017 Paul Muolo Unfortunately, Rood said he’s not at liberty to name names or agencies...Read More
Nonbanks Contemplate Raising Debt. But Can They? June 15, 2017 Paul Muolo Two years ago, Quicken Loans sold $1.25 billion worth of corporate bonds at a yield of 5.75 percent for 10 years.Read More
Phoenix Selling Bulk Fannie Mae Servicing Rights June 15, 2017 Paul Muolo Bids are due June 27. Delinquencies total just 0.3 percent of the entire package.Read More
Short Takes: Atlanta Nonbank Gets its Ginnie Mae Eagle / FSR Top Heavy in Former FHFA Officials / MAXEX Wants to be a Player in Jumbos / Hunt Mortgage Hires PennyMac Official June 15, 2017 Brandon Ivey and Paul Muolo It certainly seems like the Financial Services Roundtable wants to be a key player in GSE reform... Read More