FHA National Loan Limit Ceiling Remains Unchanged for 2016, but Increases for 188 Counties December 10, 2015 Paul Muolo HUD actually offers an appeal process where lenders can ask for a loan limit increase for their county...Read More
TRID-Related Loan Delays Bolster Warehouse Profits? Looks That Way December 10, 2015 Paul Muolo “Turn times are slower and processing times are longer,” said David Frase of Southwest Bank.Read More
Short Takes: Banks Continue to Backpedal Away from Servicing Rights / Ocwen Sells MSRs and Pays Down Debt / Nationstar and Mr. Cooper Set for March? / GSEs Invoke Holiday Foreclosure Moratorium Again December 10, 2015 John Bancroft, Carisa Chappell, and Paul Muolo Slip, sliding away: commercial banks and loans-serviced-for others...Read More
Warehouse Lending Slows Somewhat; Banks Cut Pricing December 9, 2015 Paul Muolo “There is a ton of competition out there right now,” said one warehouse manager who works for a top-five firm. Read More
Don Henig, National Sales Director for a loanDepot Division, Departs December 9, 2015 Paul Muolo Over the past four years, Henig has recruited hundreds of retail loan officers for Mortgage Master, which was sold to loanDepot a year ago. Read More
Short Takes: TRID Loan Delays, Yes / Nationstar Share Price Hits New Low / Mortgage Employment Not So Bad / Don’t Roll Your Student Loan into the Mortgage / Good News for MI Firms December 9, 2015 Paul Muolo The TRID rule delays loan closings by at least 11 days at this shop...Read More
The ‘New’ Subprime Sector: Small Loan Volumes, Big Interest From Investors December 8, 2015 Paul Muolo PE firms and hedge funds are showing a strong interest in the emerging class of subprime residential lenders...Read More
Origination Profits Tumble Almost 19 Percent in 3Q15 as Costs Rise December 8, 2015 Paul Muolo The trade group’s profitability calculation is based on average production volume of $614 million per company in the third quarter. Read More
Short Takes: Mid-sized Nonbank Open to Offers? / Purchase Lending Looking Up, Way Up / A Revision to the Purchase Number / Tighter Credit is Here / SFR Firm Hires COO December 8, 2015 Paul Muolo and Sherry Muolo Time to rejoice: purchase-lending could regularly top $1 trillion a year...Read More
IMA Out With Almost $7 Billion Worth of MSR Deals December 7, 2015 Paul Muolo On the $5.9 billion MSR pool, 42 percent of the rights are tied to mortgages in California, Florida and Texas...Read More