Residential Production Slowed in 1Q: The Wells Fargo Effect April 25, 2013 John Bancroft Home lenders funded $500 billion worth of new mortgages in the first quarter, a strong showing, but down 5 percent from the fourth quarter. Quicken Loans had the strongest growth rate among the top 10. Read More
Department of Justice to Lenders: Settle With Us Now or Pay More Later April 25, 2013 Thomas Ressler The government is warning mortgage lenders to settle their fair lending cases upfront instead of litigating.Read More
Hard-Money Lender May Quadruple Production This Year April 25, 2013 Paul Muolo Residential fundings by hard-money lender CALCAP Advisors are on the rise, a bright sign for the sector.Read More
Fannie and Freddie Spreading the Word on Coming G-Fee Hike April 25, 2013 Paul Muolo The worst kept secret in the mortgage industry is that a guaranty fee hike is coming. But no one knows when.Read More
Originations Flat at EverBank in 1Q, But Thrift is Ready to Part With Jumbos April 25, 2013 Paul Muolo EverBank funded $2.9 billion of home mortgages in the first quarter, a bit below one estimate of $3.3 billion.Read More
As GOP Complains, CFPB’s Cordray Defends Agency’s Data Collection Efforts April 24, 2013 Thomas Ressler Republicans in Congress worry about the CFPB collecting too much data on consumers but are their concerns overblown? Read More
S&P Strikes Back on MBS Case, Calls Government’s Fraud Lawsuit ‘Overreach’ April 24, 2013 Charles Wisniowski Standard and Poor's is fighting back against the federal government in its $5 billion MBS fraud case.Read More
Redwood and Other Non-Agency Players Want Congressional Help to Boost Production April 24, 2013 Brandon Ivey The non-agency/jumbo market cannot truly revive until Congress passes laws aiding transparency and decreasing risk to potential participants.Read More
Michael Lau’s Pingora Buys Delaware Mortgage Banking Firm April 24, 2013 Paul Muolo Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm. Read More
Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
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