Short Takes: PennyMac Files to Sell Preferred Shares / A Nice Dividend for Investors / Brian Wornow the Head of FinServ for KBW / Layoffs at a Mortgage Wholesaler? / Prestwick Selling Freddie MSRs March 2, 2017 Paul Muolo Recently, KBW hired Wall Street veteran Brian Wornow as managing director in charge of its financial services group...Read More
Altisource Residential Posts $228 Million Loss for 2016; CEO Calls It a ‘Strong’ Year March 1, 2017 Paul Muolo Altisource Residential said its goal is to build a large portfolio of SFRs “targeted to operate at a best-in-class yield.”Read More
Short Takes: So, You Want to be an LO? We Can Train You / Quicken Targets Cash-out Refi Market / Can You Live on 25 Basis Points? / Key RESPA Webinar Next Week / Some History on PHH March 1, 2017 Paul Muolo How much do LOs working at call centers earn per deal? We heard that some shops pay as little as 15 to 25 basis points...Read More
Caliber Home Loans Agrees to Buy Lending, Servicing Assets from Banc of California March 1, 2017 Paul Muolo In late January, Steven Sugarman, who built the bank into a well-regarded regional lender, resigned as CEO.Read More
Will Dwindling Refinances Lead to Layoffs? February 28, 2017 Paul Muolo As one executive put it: “January was slow, February was lower, and I can’t tell how March will be yet.”Read More
Short Takes: Who Will Lead FHA? / Radian Says It’s News to Bazemore / Vote on Carson Nears / Will Trump Mention the GSEs? February 28, 2017 Paul Muolo Then again, Trump has been known to surprise people. Read More
Warehouse Finance Sector Coming off a Strong 2016, but Storm Clouds Hover February 28, 2017 Paul Muolo Challenges include higher interest rates, which are translating into lower production volume in 2017…Read More
Trouble Ahead: Gain-on-Sale Margins Slipping February 27, 2017 Paul Muolo Piper analyst Kevin Barker and his team estimate that so far in 1Q17, the average refi volume is down 26 percent from fourth quarter levels.Read More
Incenter Selling Fannie/Freddie Mortgage Servicing Rights February 27, 2017 Paul Muolo California mortgages account for the large chunk of collateral at 41.2 percent. Texas is a distant second at 10.4 percent.Read More
Short Takes: Letting the Single-Security Flag Fly at SFIG / Lots of Emails Regarding the GSEs / $10B of GSE Preferred Sold the Year Before Seizure / Maloni Responds / Moving (In)to Montana / A New Hire for Selene February 27, 2017 Brandon Ivey and Paul Muolo Bradd Gold of Au Consulting LLC noted that in the year prior to their federal takeover, Fannie and Freddie sold $10 billion of GSE junior preferred. Read More