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
Short Takes: The New York Times-MBA Dust Up / Risk-Sharing in Jeopardy? / Garrett Advises on an ‘Investor Diet’ / Credit Enhancement and the Hatteras Jumbo MBS Deal / Michigan Mutual Hires Daniel Jacobs December 7, 2015 Brandon Ivey, Paul Muolo, and Sherry Muolo What year-end slow down? Michigan Mortgage is searching for 14 new employees for ten of its 28 locations. A majority of the jobs are for loan officers and underwriter positions...Read More
What We’re Hearing: Can a Loan Officer Live on $150K a Year? / Using Facebook to Underwrite Loans / Why Not Sue HUD? Answer: It’s All About the Benjamins / Quicken and Personal Loans? / Movement Mortgage Hiring / Maloni Hangs Up His GSE Blog, Sort Of December 4, 2015 Paul Muolo Are some mortgage underwriters using Facebook information to underwrite their credits? We heard one interesting story this past week...Read More
‘Fix & Flip’ Lender CALCAP Wants to Go National December 3, 2015 Paul Muolo CALCAP has never had a default, said company principal Mark Mozilo.Read More