Short Takes: Did EverBank’s Default Sale Backfire? / Can the Non-QM Market Save the Industry? / Which Mortgage Companies Will Be Forgotten? / A Layoff for a REIT / Stonegate Hires New Executive September 18, 2014 Brandon Ivey and Paul Muolo Some mortgage executives told us privately that residential originations could fall by 20 percent year.Read More
Offering ‘Book’ Circulating on Nation’s 16th Largest Originator: Stearns September 17, 2014 Paul Muolo Company CEO Brian Hale downplayed the news of an offering book, noting that it hired an investment banker because over the past 12 months Stearns has been approached by “a number of interested investors.”Read More
Short Takes: New Hampshire Nonbank About to be Sold / PE Firms Like Hard Money, Crowdfunding, P2P / Are Commercial Banks Toast? / Virginia Sues Wall Street Over PLS / Great Scot! Who Gets the RBS Liability? September 17, 2014 Paul Muolo Although there appears to be strong interest these days in mortgage banking firms, the outlook isn’t particularly bright for commercial banks.Read More
AmeriSave Agrees to Buy Mortgage Division from CertusBank September 16, 2014 Paul Muolo AmeriSave, a nonbank, has not been without controversy itself.Read More
Short Takes: New Jumbo Deal from Two Harbors / Investors Dumping Fannie and Freddie Stock? / GSE Plaintiff Hires Former Fannie CFO Howard / M&A for NYCB? / Want a Loan? Don’t Get Pregnant / Norcom Opens Another Branch in Connecticut September 15, 2014 Brandon Ivey and Paul Muolo Is it time to sell shares in Fannie Mae and Freddie Mac? Read More
What We're Hearing: A Mortgage M&A (Mini) Tidal Wave? / A Vendor Shakeup as Well? / 34 LOS Vendors? / It’s Hard Breaking Into Subservicing / Walter, the Best of the Three / The CFPB Wasn’t Even There! September 12, 2014 Paul Muolo The days of the megabanks – Wells Fargo, JPMorgan Chase and Bank of America – buying mortgage companies (of any size) are over. Never again. Right?...Read More
Industry Vet Willie Newman Establishes New Platform, Agrees to Buy $1 Billion-Plus Lender September 11, 2014 Paul Muolo “Our intention is to be a top tier lender,” said Newman.Read More
Ocwen Tells Analysts that MSR Transfers Will Be Much Lower September 11, 2014 Paul Muolo it appears the halcyon days of legacy MSR sales are over. Or so Ocwen is telling Wall Street.Read More
Short Takes: Altisource Unveils Broker Launch / If You Had Bought MGIC Stock Two Years Ago… / UGI and Other MIs Offer Rescission Relief / The ‘Jumbo Three’ September 11, 2014 Paul Muolo Altisource Portfolio Solutions has rolled out a new operating platform for brokers, table funders and third-party vendors. Read More
Short Takes: Nonbanks Rule in the Capital Category? / Don’t Even Ask About the Wells-Ocwen MSR Deal / Mortgage Applications Tank / Fannie and Freddie Beat the Tax Man / Cordray on HMDA September 10, 2014 Paul Muolo, Thomas Ressler, and Charles Wisniowski We understand that when stock analysts meet with Ocwen management, executives at the nonbank usually tell them to not even ask about the deal.Read More