Short Takes: A Bank in the Hunt for Mortgage M&A / PRMI Has Record Year / Citadel Passes the $1 Billion Mark / SFIG Starts ‘Grassroots’ Effort / SoFi Buys Zenbanx / Why Didn’t You Go With Me? Was it Something We Did? February 2, 2017 Brandon Ivey and Paul Muolo The "Lost Sales Analysis" product – licensed from its developer, Equifax – helps originators determine if applicants closed a mortgage with a competitor. Read More
Analysts Raise Concerns About New Residential’s Hunger for MSRs January 31, 2017 Paul Muolo Keefe, Bruyette & Woods is worried about the prepayment risk that comes with owning so much Fannie Mae/Freddie Mac servicing rights…Read More
Citigroup Kisses MSR Business Goodbye; A Rising Force Named ‘New Rez’ January 30, 2017 Paul Muolo The last company to go on an MSR acquisition binge this fierce was Ocwen Financial…Read More
Short Takes: Okay, Which Bank Will Exit the MSR Market Next? / The Trump Factor / The Fortress-New Rez Connection / Behind the Scenes at Nationstar / Arch Announces MI Manual Update January 30, 2017 Paul Muolo Fortress also owns roughly 70 percent of Nationstar Mortgage, a stake it has held for quite some time.Read More
Citigroup Announces Plan to Exit Residential Servicing Business; Will Take a $400 Million Charge January 30, 2017 Paul Muolo New Residential, a publicly traded REIT, will obtain the rights to roughly 780,000 loans ($97 billion) guaranteed by Fannie Mae and Freddie Mac...Read More
Bulk MSR Transfers up Sharply in Late 2016; Co-Issuance Sector Cooled January 30, 2017 John Bancroft Bulk transfers of Freddie Mac MSRs also increased dramatically in 4Q16, more than doubling to $17.52 billion…Read More
Willie Newman’s Home Point Financial Agrees to Buy #41 Ranked Stonegate January 27, 2017 Paul Muolo In the past, Home Point has been a selective buyer of servicing rights and other companies...Read More
What We’re Hearing: Still Here: CFPB Chief Cordray / Maybe the CFPB Needs to Hire Some LOs / Realty Firms Show Affection for Mortgage Lending / Less RESPA Enforcement? / Warburg Makes a Mortgage Investment / HUD IG Issues a ‘Recall’ January 27, 2017 Paul Muolo Maybe the CFPB should hire some loan officers who have actually closed a mortgage...Read More
RPM Mortgage Hits the M&A Trail Once Again January 19, 2017 Paul Muolo Late last year, RPM made what it called an “investment” in American Eagle Mortgage of Ohio…Read More
Incenter Selling $4 Billion Freddie Mac Servicing Portfolio January 19, 2017 Paul Muolo The delinquency rate on the package is just 0.65 percent, based on number of loans…Read More
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