Short Takes: Provident Top Ranked Table Funder in 2Q / Realty Giant Files to Go Public, Cites Mortgage Risks / Mini-Correspondent Programs Sprout Up / Ex-Fannie Executive Wants Justice, Privatization / How to Spy on the CFPB August 19, 2013 Paul Muolo and Thomas Ressler Mini-correspondent lending is hot, but wholesale may be on the decline. Surprise: RE/MAX files to go public.Read More
What Were Hearing: Fannie About to Reduce Maximum LTV / Rate Rise Causing the Phones to Stop Ringing? / Arch Capital Wants to be a Player in MI / Cole Taylor Continues to Hire / Waiting for Godot and Sen. Reeds GSE Bill / Can Ellie Mae Get Sol August 16, 2013 Fannie Mae will lower its maximum LTV. Mortgage insurance firms are not happy. Meanwhile, NAMB blames shrinking application volumes on summer vacations. Read More
Cole Taylor Mortgage Sale Heats Up August 15, 2013 Paul Muolo Cole Taylor Mortgage is talking to several semi-finalists that want to buy the company. Meanwhile, it's business as usual at the bank-owned lender.Read More
Short Takes: PennyMacs Recent NPL Deals Near $1 Billion / Cash-Out Refis Continue to Tank / MGIC Shows More Progress / MountainView Hopes to Capitalize on Mortgage M&A / Surprise: HUD Cancels Some Furlough Days August 15, 2013 George Brooks and Paul Muolo PennyMac is once again stepping up to the NPL plate with some major deals. Meanwhile, cash-out refis continue to dwindle.Read More
Bank of America Selling $22 Billion of Ginnie Mae MSRs August 14, 2013 Paul Muolo If you thought that Bank of America was done selling mortgage servicing rights, think again.Read More
Nonprime MBS Holdings by Fannie and Freddie Down 12 Percent August 13, 2013 Brandon Ivey Fannie sold $2.2 billion of non-agency assets in the first half of the year. Meanwhile, Freddie sold at least $1 billion of non-prime MBS in May. Read More
With Refis Tanking, Can CashCall Get Sold? August 12, 2013 Paul Muolo As refinancings continue to fall, lenders that specialize in such loans will see their franchise values drop dramatically. Read More
Bulk Market Continues to Spit Out MSR Offerings August 12, 2013 Paul Muolo Investors searching for residential servicing rights can take a run at new offerings from Interactive Mortgage Advisors and MIAC, among others.Read More
Short Takes: At Least Harry Reid Likes the GSEs / Uncle Sam Takes In More Revenue, Thanks to Fannie and Freddie / Greenlight Earned How Much Last Year? / HSBC Official Joins Mortgage Master / Calling All Warehouse Lenders August 12, 2013 Paul Muolo Senate Majority Leader Harry Reid appears to have come out in support of Fannie Mae and Freddie Mac. But will other elected officials follow suit?Read More
Short Takes: Wells Cans 763 Mortgage Workers / Return of the Eminent Domain Jedi? / Delinquencies Continue to Improve / JPM Under the DoJ Microscope Because of Subprime / Bexil Enters NJ Wholesale Space / Wally and Penny Hit Earnings Home Runs August 8, 2013 Brandon Ivey and Paul Muolo Wells Fargo cuts 760-plus mortgage workers. Meanwhile, Bexil American enters the New Jersey market through the wholesale channel.Read More