Mortgage Earnings at Home Street Rise Sharply, Expansion Continues April 28, 2015 Brandon Ivey HomeStreet funded $1.61 billion of new originations in the first quarter of 2015, a 21 percent improvement from the previous quarter.Read More
Lender-Paid Mortgage Insurance Faces Scrutiny from the GSEs, FHFA April 28, 2015 Paul Muolo Quicken made news earlier in the year when it heavily promoted to loan brokers a 60-hour LPMI “sale” committing coverage for $100 million in originations.Read More
Short Takes: Strong Demand for Mortgage Chief Operating Officers? / Lenders Without Budgets are Less Profitable / Ocwen Turned Down a Good Bid / A CEMA Tale and BofA April 28, 2015 Paul Muolo Recruiter Rick Glass said the thirst to hire high-caliber mortgage COOs is coming from lenders that “want to move to the next level.”Read More
Maybe, the GSEs’ Role in Multifamily Should be Increased, Not Decreased April 28, 2015 Carisa Chappell Another post-crisis trend is that the volume of Fannie’s multifamily financing had shrunk more than Freddie’s...Read More
Banks Report Solid Gains in Mortgage Income in 1Q15 April 27, 2015 John Bancroft Many lenders reported the pleasant confluence of rising origination volume and stronger gain-on-sale margins.Read More
Why a Large Chunk of 9.3 Million Foreclosed Borrowers May Never Buy a Home Again April 27, 2015 Brandon Ivey Underwriting overlays established by lenders also will limit some potential borrowers from purchasing homes in the coming years. Read More
HUD Tells Servicers to Wait a Year on FHA Foreclosures April 27, 2015 George Brooks Mortgage servicers will be subject to stronger quarterly reporting requirements, including tougher penalties for non-compliance. Read More
Nation’s Second-Largest Wholesaler Forecasts Strong Production Gain April 27, 2015 Paul Muolo Company CEO Mat Ishbia also believes that the loan broker channel is beginning to gain market share, a sentiment borne out by others in the industry.Read More
Short Takes: Another Former Subprime Executive Ready to Launch? / More Chatter on Quicken’s Lawsuit / Collingwood Warns on New FHA System / A Multifamily Milestone for Freddie April 27, 2015 Carisa Chappell and Paul Muolo Could another former subprime mortgage executive be reentering the game? Read More
Prestwick Selling Flow Servicing from the Mid-Atlantic April 27, 2015 Paul Muolo The bid deadline is May 12 and according to Prestwick, the seller wants to “start deliveries as soon as possible.”Read More