Short Takes: TRID is Costing Consumers Too. Here’s How… / Midcap Banks Stressed Out? / loanDepot Flies the ‘Marketplace Lender’ Flag / More MSR Deals from IMA / ORM Chief Resigns January 11, 2016 Paul Muolo In a new press release touting its 2015 results, the privately held loanDepot LLC refers to itself on a few occasions as a “marketplace” lender...Read More
What We’re Hearing: TRID, a Major Crisis? / Will Public Mortgage Firms Answer the TRID Question? / Commercial Bank Rejects Most TRID Loans / Genworth, PennyMac Hit 52-Week Lows / CMLA Lists Its Priorities January 8, 2016 Paul Muolo Then again, we also hear reports that the worst of the TRID mess will be over by the end of February…Read More
After Reorganization, Impac Sees Increase in Correspondent Volume; Nonbank is in a Hiring Mode January 7, 2016 Brandon Ivey Impac Mortgage is currently recruiting sales and operational personnel...Read More
Walter/Ditech Bolts the Retail Sector; ‘Fewer’ Than 200 Employees Affected January 7, 2016 Paul Muolo During the first nine months of 2015, retail accounted for just $400 million of Ditech’s $19.6 billion of residential production...Read More
More Office Consolidation for Fannie Mae, This Time in Texas January 7, 2016 Carisa Chappell As for potential layoffs, the government-controlled mortgage giant declined to comment.Read More
Short Takes: S&P Maintains Ratings on Quicken / How About $500 Million? / Seterus a Buyer of MSRs from Ocwen / Five Oaks Ends Repo Deal with BofA / JPM Names Muriungi New Servicing Chief January 7, 2016 Paul Muolo The IBM-owned Seterus has been buying mortgage servicing rights from Ocwen Financial...Read More
Short Takes: Freddie Mac Gives Price Breaks Through LOMC / What Happened to G-Fee Parity? / New CEO for Lenders One? / loanDepot Cranks Out the Second Liens / New Hires for National General January 6, 2016 Paul Muolo Introduced in Sept. 2015, fundings of loanDepot home equity loan products have nearly doubled every month since launch...Read More
Short Takes: Yet More TRID Problems? / CFPB Looking at ‘Pricing Concessions’ / NAMB Backs Savitt for House Seat / Ocwen Gets a B+ From KBRA / Lender Hires Former Capital One Executive January 5, 2016 Brandon Ivey and Paul Muolo Industry consultant Joe Garrett is advising his clients to keep a “concession log…” Read More
Short Takes: You Can Rule Out Other Lenders Suing HUD / $1.25 Billion Buys A Ton of Lawyers / Michigan Friendlier Than DC? / Erbey Still Loves Ocwen / LeaderOne Hires Light January 4, 2016 Paul Muolo “A terrible outcome,” one mortgage consultant told IMFnews…Read More
PennyMac Registers Shares for Sale; Potential Sellers Include CEO Kurland, BlackRock, Others… December 31, 2015 Paul Muolo If Kurland sells all of the shares he registered, it will leave him with 424,025, making him (still) the largest individual shareholder in the publicly traded REIT.Read More
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