Short Takes: Bucking the Origination Trend: BofA and USB / A Strong Quarter for Warehouse Bank Texas Capital / Reliant Hires RoundPoint as a Subservicer / Waterstone in the Hunt for a CEO / A New Hire for Guaranteed Rate April 19, 2019 Paul Muolo A stand-out was Texas Capital's “loans held for investment” program which ended the quarter at $6.30 billion, up 34% from a year ago. Read More
CEO Messina’s Comp Plan at Ocwen: $4.5 Million April 19, 2019 Paul Muolo The Ocwen filing notes that Messina was paid $240,000 per month in order to preserve his availability... Read More
Short Takes: A ‘Perfect Storm’ Hammered Mortgage Profits / How Bad? Try 2008 / Ocwen Grants CEO Messina Stock Awards / Colony Set to Buy PFB Mortgage / Evolve Hires Former Wells Executive as Mortgage President April 17, 2019 Paul Muolo The negative factors include higher rates, lower originations, and rising expenses, resulting in the lowest net production income per loan reading since 2008...Read More
No Decision Yet on Curbing Access to the CFPB’s Complaint Database April 17, 2019 Yemeng Yang It's been nearly a year and the CFPB still hasn't acted on what to do about the complaint database...Read More
M&A Heats Up: Home Point Buys Wholesale Lender, RE Tech Firm Acquires Direct Funder April 17, 2019 Willie Newman's Home Point seems to have acquisitions on its mind these days...Read More
Rates Creeping Back Up and That Means One Thing: Lower Applications April 17, 2019 Paul Muolo No one in the industry is hitting the panic button quite yet. After all, it’s the spring home buying season...Read More
Short Takes: A Record Non-QM Quarter for Angel Oak / $9.7B Under Management / Good News for FHFA, Bad News for HUD / Filling the Holes / Take Our Servicing Trivia Test April 16, 2019 Paul Muolo A record production quarter for Angel Oak...Read More
BofA Bucks the Trend, Reports Higher Residential Originations April 16, 2019 Paul Muolo Compared to 1Q18, first-lien production increased 21.6%... Read More
Residential Lending at Citi Drops 13% in 1Q19 April 15, 2019 Among all originators, Citi ranks 22nd overall...Read More
GE Hit with $1.5 Billion Penalty from DOJ for Problems with Pre-Crisis Mortgages April 15, 2019 Brandon Ivey WMC Mortgage "jacked up volume without controls," according to a member of General Electric's corporate audit staff.Read More
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