Jim Cutillo out as CEO of Stonegate Mortgage; Maybe a Sale is the Solution? August 31, 2015 Paul Muolo In a statement, Stonegate said Cutillo will be “redirecting” his “entrepreneurial energy on a new endeavor going forward.”Read More
What We’re Hearing: Will Banks Ever Return to Wholesale? / $354 Million for Stearns Lending? / Eventually, There Will be a Merger / The Dave Stevens ‘Flip-Flop’ Controversy / MBA’s Top Paid Consultants August 28, 2015 Paul Muolo What do nonbanks think about depositories avoiding the wholesale/broker sector? They love it.Read More
Short Takes: Fannie Gets the Origination Blues / Hopefully, It Won’t Come True / Marix Gets Freddie Approval / Freddie Grows. Don’t Tell FHFA / MIAC Hires Trading Desk Chief August 27, 2015 Paul Muolo If Fannie Mae's origination forecast comes true, just $615 billion in loans will be written from July 1 to Dec. 31, an ugly outlook indeed…Read More
Mortgage Banking Solutions Selling Wholesale Lender August 25, 2015 Paul Muolo MBS Managing Partner Chuck Klein said the company in question owns at least $3 billion in mortgage servicing rights...Read More
Did Blackstone Pay a Premium for Stearns? Not Likely August 24, 2015 Paul Muolo Stearns Lending has been on the auction block for well over a year, maybe longer...Read More
What We’re Hearing: Who’s Going Public? / The FIG of Houlihan Lokey Has Been Busy / loanDepot’s Investor? / Thank You, China / Chinese Nationals Need to Pay in Dollars / Mortgage Debt Should Rise Soon / How Donald Trump Might Pay Off Our Bills August 14, 2015 Paul Muolo When a nonbank unveils a nonconforming product that can’t be securitized the first question we ask is this: where will the loans ultimately reside?Read More
MIAC: First Half a ‘Buyer’s Market’ for Servicing Rights August 13, 2015 Paul Muolo Is the bulk MSR market in the doldrums?Read More
Short Takes: Neighborhood Watch Program Goes Down Without Explanation / Compass Point Repeats ‘Sell’ Rating on Walter / DeMarco Stresses Data Standardization / Houlihan Lokey Prepares IPO / Wolters Gets Ready for HMDA Changes / Carrington Hires PennyMac E August 13, 2015 George Brooks, Carisa Chappell, and Paul Muolo HUD's Neighborhood Watch system is down, but this cabinet level agency has no explanations for the press or publicRead More
Sale of RoundPoint to PIMCO Appears to be Dead – Again August 11, 2015 Paul Muolo Both parties, to date, have declined to discuss the situation.Read More
Short Takes: Blackstone Finally Admits, Yes We’ve Been Buying Some Mortgage Companies / Who is Brian Libman? / Cherry Hill Joins an FHLB / Sistar Mortgage is Hiring / MCT Lands CMG Official August 11, 2015 Paul Muolo The Blackstone Group has finally lifted the 'cone of silence' on its acquisition of mortgage lenders. But will it disclose origination figures?Read More