Paul Muolo

Managing Editor

Recent Stories From this Author

Megabanks’ Originations Weak, MSR Values an Issue
January 18, 2019 Publicly traded nonbank giants, including PennyMac and Mr. Cooper, have yet to report results, but there’s nothing to suggest...

What We’re Hearing: GAO Worries About Fannie & Freddie / The Return of Jeb Hensarling / Top-Ranked Nonbank Enters the HELOC Market / Quicken Courts the Refi Market / Eddy Perez to Head MORPAC / Take Our Salary Survey
January 18, 2019 The title of the new GAO report says it all: The Prolonged Conservatorships of Fannie Mae and Freddie Mac...

Ditech Gets a Breather from Its Note Holders (For Now); COO Terminated
January 17, 2019 Ditech also terminated the employment of Chief Operating Officer Ritesh Chaturbedi.

Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton
January 17, 2019 The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...

Mortgage Employment Falls to 10-Month Low
January 17, 2019 Conventional lenders will have a tougher time of it this year...

Residential Lending Declines for Both BofA and U.S. Bank
January 16, 2019 A top ten lender, U.S. Bank produced $9.1 billion of mortgages in 4Q18, a 19.1 sequential decline...

Ginnie Mae Postpones Annual Summit, Citing Government Shutdown
January 16, 2019 Scheduled speakers included Housing and Urban Development Secretary Ben Carson, Kasper and Edward DeMarco, former acting...

Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending
January 16, 2019 Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking,...

Residential Production Falls 17 Percent at Wells Fargo, Mortgage Profits Plunge
January 15, 2019 Management blamed the lower figures on “seasonality.”

Residential Production Down by Almost 24 Percent at No. 2-Ranked JPMorgan Chase
January 15, 2019 JPM valued its MSR portfolio at 117 basis points at the end of the fourth quarter, reducing the mark from 122 bps in 3Q18...


Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

It’s fine. Stick with what works.
Time for a change. Borrowers are different today.
Undecided, still assessing the situation.

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