Short Takes: Fed Official Casts Doubt on Nonbanks? / The American House: A Terrible Investment? / Concern Over VA-Streamlined Refis? / Amherst Hires Barclays Mortgage Officials / A New 52-Week Low for Walter Investment June 28, 2016 Brandon Ivey and Paul Muolo A few weeks back, Walter Investment CEO and vice chairman Denmark Dixon resigned, but was given a $2.25 million cash payment as part of a separation agreement from the company. Read More
Phoenix Capital Selling $1.08 Billion of GSE Servicing Rights June 27, 2016 Paul Muolo The mortgages currently are being subserviced by a firm described as “DMI.”Read More
Thanks to ‘Brexit,’ the Yield on the 10-Year is Still Falling, but Loan Brokers Notice Wholesalers Have Yet to Act June 27, 2016 Paul Muolo Okay, so the yield on the 10-year Treasury has fallen, but mortgage bankers have yet to slash their rates…Read More
Short Takes: UWM is Hitting its Stride / TRID Not a Problem / Flagstar Moves on From Uncle Sam / White House Stalling in GSE Case / Chris George Gets the Nod From MBA June 27, 2016 Carisa Chappell and Paul Muolo The CEO of United Wholesale Mortgage is projecting that in June the lender could fund $1.9 billion, which would be the firm’s best month ever…Read More
New Concerns Arise About Nonbanks’ Ability to Meet Ginnie MBS Servicing Advances June 24, 2016 Paul Muolo Ginnie Mae officials believe it is becoming increasingly important that nonbank mortgage servicers find new sources of capital...Read More
What We’re Hearing: Mortgage Lenders to England: Thanks for Igniting Another Refi Boom / Servicers Cringe? Maybe Not / Brexit, Plunging Rates and the GSE ‘Hedging’ Issue / More on a Possible FHA MIP Cut / Capsilon Gets Investment from PE Firm June 24, 2016 Paul Muolo What does the Brexit vote for Fannie Mae and Freddie Mac? Hedging losses, maybe?Read More
Short Takes: What’s an NBA Championship Worth? About 25 BPs / MountainView Selling Ginnie Mae MSRs / 20 Percent Down Isn’t the Right Answer? / Homeownership, a Complicated Affair / Ditech Hires Ex-SunTrust Exec June 23, 2016 Brandon Ivey, Macie Jones, and Paul Muolo Who needs a toaster when you can have a mortgage at a 25 basis point discount?Read More
Ginnie Mae Hosts ‘Liquidity Summit’ on Friday; A Concern That the Megabanks Have Split for Good? June 23, 2016 Paul Muolo How big of a deal in this liquidity summit? Well, officials from the Federal Reserve and Treasury Department will be there...Read More
CRT Capital Group Pulls the Plug on Sterne Agee CRT; Firm Followed Several Mortgage Stocks June 22, 2016 Paul Muolo CRT Capital’s backers include Aquiline Capital Partners, which 18 months ago bought a large stake in subservicer/service provider LenderLive.Read More
25 Trade and Community Groups Tell FHFA Chief Mel Watt: Kill LLPAs Now June 22, 2016 Paul Muolo The mortgage industry and others want LLPAs eliminated now...Read More