Short Takes: When Donald Met the NAHB / No New Regulations? / Foreclosures Rise on a Sequential Basis / Good News for the FHA MMIF / New Hire at Incenter August 11, 2016 Paul Muolo and Sherry Muolo Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…Read More
Across the Board it was an Ugly 2Q16 for MSR Markdowns August 11, 2016 Paul Muolo Before the financial crisis, it wasn’t unusual for a bank to value its MSR asset at 150 bps or even higher.Read More
Short Takes: VA 2Q Loan Volume at $48 Billion / Hedge Funds See Bargains in Servicing Rights? / Bill Erbey Continues to Sell Shares / Michigan Mutual’s New Hire August 11, 2016 John Bancroft and Paul Muolo Some investors believe servicing prices now look enticing.Read More
Megabanks the Big Winners as Jumbo Conduits Close? August 10, 2016 Paul Muolo The fear is that loan pricing will be worse and loan-to-value ratios will be more restrictive.Read More
Loan Broker Employment Best Since the Financial Crisis August 10, 2016 Paul Muolo UWM is beginning to see some of its competitors pick up their game...Read More
Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae August 10, 2016 Brandon Ivey and Paul Muolo Senior-level mortgage executives are in demand these days, according to one recruiter... Read More
PHH Working on Sale with ‘Sense of Urgency’; Company Loses $12 Million in 2Q16 August 9, 2016 Paul Muolo The question remains: who will buy PHH's assets? Is a franchise deal even possible?Read More
Walter Posts Staggering Loss of $232 Million for 2Q16; Sells MSRs and Hires New CEO August 9, 2016 Paul Muolo On the production front, Walter’s Ditech unit reported $4.8 billion of new originations, a 3.4 percent drop compared to 1Q16. Read More
Short Takes: MBA’s Dave Stevens, Former HUD Chief Cuomo in the $100,000 Hillary Club / 66 Basis Points for $35 Billion in MSRs? / Sell Walter? / Fannie CEO Takes A Second Job / Stewart Title Loses Sales Exec to Competitor August 9, 2016 Carisa Chappell and Paul Muolo Speculators have made a ton of money shorting Walter's stock...Read More
TIAA Makes it Official: Financial Services Firm will Buy EverBank; A $93.2 Million Termination Fee Though August 8, 2016 Paul Muolo TIAA is headed by Roger Ferguson, former vice chairman of the Federal Reserve Board.Read More