In 4Q, Banks Didn’t Exactly Rise to the Mortgage Occasion January 21, 2021 Paul Muolo The nation’s top six depositories funded a combined $139.3 billion of mortgages in the fourth quarter of 2020, down both sequentially and on an annual basis.Read More
White House Names Interim CFPB Director: Uejio January 21, 2021 Lisa Burden Uejio first started at the bureau in 2012. He has held several positions with the agency, including lead for talent acquisition.Read More
Mortgage Production Cools Off at Flagstar in 4Q20 January 21, 2021 Brandon Ivey Flagstar's production and profit margins declined in the fourth quarter, though the bank increased MSR sales and warehouse lending... Read More
Short Takes: Coming (Sort of) Soon: A 30% Market Share for Loan Brokers? / Still Hiring / Another Milestone for Broker Employment / FHFA Stays Busy January 20, 2021 Paul Muolo and Dennis Hollier According to figures compiled by the U.S. Bureau of Labor Statistics, loan brokerage firms now employ 109,800 full-timers...Read More
Mortgage Lending, Profits Fall at U.S. Bank January 20, 2021 Paul Muolo Mortgage banking earnings fell to $478 million at the Minneapolis-based bank from $543 million in the third quarter... Read More
The Winners of Quicken’s $25B MSR Portfolio: Ocwen and Freedom January 20, 2021 Paul Muolo Also, Guaranteed Rate peeled off a $13 billion chunk of receivables...Read More
GNMA PTAP Program Headed for the Sunset January 19, 2021 Maria Volkova To the surprise of some, the program wasn’t heavily used by nonbank MBS issuers...Read More
Biden’s Pick for the CFPB Job: Chopra. Tougher Enforcement Ahead? January 18, 2021 Lisa Burden If approved by the Senate he would replace Kathy Kraninger, a business-friendly Trump-appointed official who has led the agency since 2018.Read More
Is Wall Street Running Out of (Nonbank) Mortgage IPO Candidates? January 15, 2021 Paul Muolo What about Movement Mortgage as an IPO candidate? Read More
4Q Results Begin: Wells Slides in Mortgages, JPM Gains… January 15, 2021 Paul Muolo Wells Fargo: “Home lending revenue [was] down 21% from 3Q20 on lower servicing income and MSR valuation adjustments reflecting higher prepayment.”Read More