Paul Muolo

Managing Editor

Recent Stories From this Author

Former Incenter Trading Unit Reemerges as RAMS Mortgage Capital
September 25, 2018 The unit will continue to be headed by industry veterans Tad Dahlke and Hal Hermelee...

Phoenix Capital Offering Fannie Mae ‘Flow’ Package
September 25, 2018 Roughly 86 percent of the mortgages are purchase-money loans...

MBS Trading Sets a New Low for the Year
September 25, 2018 The trading peak for the year came in February at $239.2 billion.

Short Takes: Full Bore into Non-QM? / FHA Could Hike Premiums / Record Attendance at ABS East / Departures from Sprout / A New Denver Branch for Churchill Mortgage
September 25, 2018 Will FHA hike its premiums? Maybe, maybe not...

Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot
September 24, 2018 ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.”

Nonprime Lender Deephaven Taps LoanScorecard’s AU Software
September 24, 2018 Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not...

Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA
September 24, 2018 Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise...

Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions
September 21, 2018 The megabank is not commenting on how the cuts might affect specific business units...

What We’re Hearing: Freddie Mac Puts on its Banker Hat / Some Interesting Policy Moves by Mel Watt / Nonbank Liquidity is a Good Thing, Right? / The Progressives v. the Traditionalists / Eat a Peach: CFPB Moves an Office to Atlanta
September 21, 2018 The idea to ban nonbanks from the FHLB system (via the captive loophole) increasingly looks like a head-scratcher....

Brian Brooks, a Possible Successor to Fannie CEO Mayopoulos, Departs
September 20, 2018 Brooks was vice chairman of OneWest Bank, a depository once owned by current Treasury Secretary Steven Mnuchin.


Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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