March 27, 2020By Brandon IveyLayoffs Begin at Non-QM Lenders. Angel Oak, Deephaven Cut WorkersAngel Oak Mortgage Solutions laid off roughly 70% of its 275 employees as non-QM originations have stalled due to economic fallout caused by the coronavirus.
March 26, 2020By Paul MuoloShort Takes: A Tremendous Recovery? / Non-QM Layoffs Coming? / Will Ocwen Blow it This Time Around? / India / GSE Reform Kaput?In the stock market, we trust. Right? Meanwhile: Ocwen to the rescue? (Too bad Ditech didn't survive.)
March 26, 2020By Yemeng YangA Problem for Loan Closings: Certain County Recorder Offices are Closed“That’s going to grow as we see more and more states that enter into a shelter-in-place status,” said Steve Gottheim, senior counsel at ALTA.
March 24, 2020By Paul MuoloShort Takes: (Mortgage) Shoes Keep Dropping / Originator to Warehouse Financier: You’re Fired / Pending Legislation to Help IMBs? / MSR Buyer Halts Flow Purchases
March 22, 2020By Paul MuoloCoronavirus Updates: Nation’s Largest Lender Wells Fargo Institutes Work-from-Home Policy; QMLS Clarifies Funding Policy
March 21, 2020By Paul MuoloAs Coronavirus Worsens, Calls Mount to Let the GSEs Buy MBS / Hike the Conforming Loan Limit? / Mortgage Bankers: ‘Essential’ Workers
March 20, 2020By Paul MuoloCalifornia Mortgage Employees Start Working at Home as Coronavirus Outbreak Worsens. ‘Shelter in Place’ Order In Effect
March 6, 2020By Paul MuoloShort Takes: Panic Sets In, Rumors Spread / Living at the Office / Be Nice to Your Processors and Underwriters / MBA Cancels Tech Show, Citing Coronavirus Concerns / A Word From Quicken’s Jay Farner
March 4, 2020By Dennis HollierShort Takes: Biden, Fannie and Freddie / When a Socialist Gets Money to Spend / A 224% Spike in Refis / What Wells is Doing / A Big (but Expected) Promotion at Freddie