Short Takes: Another Refi Boom in the Works? It Sounds Crazy But… / Watch the Stocks / A 3.75 Percent 30-year FRM? / BankUnited Kills Retail Home Lending / Weitz Sticks With Redwood Trust / A Correction January 14, 2016 Brandon Ivey and Paul Muolo Yet another funder has pulled the plug on traditional retail mortgage lending, but will remain a correspondent buyer... Read More
The TRID Compliance Mess Continues: a 100 Percent Rejection Rate by One Investor January 13, 2016 Paul Muolo A 100 percent rejection rate? That's a problem...Read More
MountainView, IMA Out With New MSR Deals January 13, 2016 Paul Muolo The $3.02 billion of Ginnie Mae rights that IMA is selling are presently being subserviced by LoanCare Servicing, Virginia Beach, VA.Read More
Short Takes: We Don’t Need No Stinkin’ FICO Scores / Will TRID Hurt Earnings? / TRID was a ‘Blip’ on the Radar at RPM / More NPL Sales by Fannie / Stonegate Exec Departs for Ditech January 13, 2016 Paul Muolo Shelly Logemann, a top producer and branch manager for the privately held RPM, told us “TRID was a blip on the radar..."Read More
RoundPoint President Dave Worrall Departs; Servicer Still Open to Offers? January 12, 2016 Paul Muolo At one point, PIMCO had been eyeing RoundPoint, sources told IMFnews...Read More
It’s Official: FHFA Bans ‘Captives’ From FHLB System; $35 Billion in Advances Must Go – Eventually January 12, 2016 Carisa Chappell and Paul Muolo REITs have gained access to the FHLB discount window with the goal of leveraging their investments in both MBS and servicing rights. Read More
Short Takes: FHFA to Industry: Thanks for Your 400 Comments, but No / Mortgage REITs are Not Happy / IMA Selling $3B in Ginnie MSRs / Schneider’s Salary Revealed / Executive Leaves Altisource for Altavera January 12, 2016 Paul Muolo In other words, the regulation to ban captives from entering the system moved forward despite overwhelming industry opposition… Read More
Mortgage Bankers and Brokers Shed Jobs at Yearend; Loan Officers Still in Demand January 11, 2016 Paul Muolo Although residential lending could fall by 20 percent in 2016, the demand for retail LOs with strong ties to Realtors and home builders should remain strong. Read More
Insurance Company Ups Stake in Stonegate as Lender Hits 52-week Low January 11, 2016 Paul Muolo Stonegate, which lost $22.8 million in 3Q15, likely will report its fourth quarter results sometime in February. Read More
Short Takes: TRID is Costing Consumers Too. Here’s How… / Midcap Banks Stressed Out? / loanDepot Flies the ‘Marketplace Lender’ Flag / More MSR Deals from IMA / ORM Chief Resigns January 11, 2016 Paul Muolo In a new press release touting its 2015 results, the privately held loanDepot LLC refers to itself on a few occasions as a “marketplace” lender...Read More