The Largest MSR Deal in Years: PHH Agrees to Sell $72 Billion of Bulk Product to REIT ‘New Rez’ December 29, 2016 Paul Muolo PHH said it will subservice the loans for New Residential "for an initial period of three years, subject to certain termination provisions."Read More
PHH’s ‘Self Liquidation’ Continues. Most of its MSRs Slated for Sale to ‘New Rez’ December 29, 2016 Paul Muolo The sale proceeds exclude estimated transaction fees and expenses of roughly 5.0 percent...Read More
Short Takes: A Host of Approvals Needed on PHH Deal / A $10 Million Termination Fee / Sell and Subservice / And the Ginnies Go To… / New Hire for Gateway Mortgage December 29, 2016 Paul Muolo New Residential is entitled to a $10 million termination fee if the sale falls apart...Read More
Short Takes: Another Nonprime Lender Gets Rated / MorVest Wraps Up GSE MSR Auction / PennyMac’s Financing Deal / A Bright Idea and Others / BB&T Names New Prez / A Short Publishing Break for IMFnews December 22, 2016 Paul Muolo Another non-agency lender has received a rating from Fitch: Angel Oak Home Loans... Read More
Short Takes: NAR Warns House Speaker Ryan Not to Mess with Housing / The Ramifications of Making Changes to the Tax Code / Miami Under Water and Not in Terms of Home Equity / RPM in the Hunt? / Seniors and Home Equity December 21, 2016 Paul Muolo A new report from ATOM Data Solutions says concerns about rising sea levels “remain a rarity among most South Florida homeowners and investors"...Read More
The NYCB-Astoria Financial Merger is Kaput December 20, 2016 Brandon Ivey Consumer advocates were among the groups that opposed NYCB’s acquisition of Astoria…Read More
Mutual Fund Company T. Rowe Price Reduces Stake in PHH December 19, 2016 Paul Muolo Over the past year, PHH’s share price has traded as high as $16.80 versus a 52-week low of $8.26.Read More
As Rates Move Higher, a New Found Optimism Hits the MSR Market. Can it Last? December 16, 2016 Paul Muolo The 'Trump Bump' Hits the MSR market as well...Read More
Short Takes: GSE Scorecard Surprises? / Revisiting PMIERs? / MI Stocks Trade Near Highs / More MSR Auctions on the Way / ‘Flex’ Replaces ‘HAMP’ December 15, 2016 Carisa Chappell and Paul Muolo Investors are snatching up shares of publicly traded MI firms...Read More
As Rates Continue to Rise, $20 Billion of MSRs About to Hit the Market, At Least December 12, 2016 Paul Muolo One market watcher said two other mortgage servicing rights packages totaling $10 billion are ready for bid.Read More
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