Short Takes: PHH Sees Its Gain-on-Sale Drop / Flippers Say Viva Las Vegas and Orlando Too / Auction.com Sells Apartment Buildings in Competitive Bid / Treasury Comes Clean on HAMP / Sen. Corker Uncorks May 2, 2013 Brandon Ivey and Paul Muolo PHH Mortgage saw its gain-on-sale margin decline but it marked up the value of its MSRs.Read More
Denver Nonbank W.J. Bradley Does Roll Up Deal with Washington Lender May 1, 2013 Paul Muolo W.J. Bradley isn't necessarily buying Legacy Group Lending, but the two firms are combining forces. Read More
SunTrust Mortgage Executive Seth Sprague Departs April 30, 2013 Paul Muolo Sprague, a veteran of SunTrust, Bank of America, and Matrix Capital, has joined Phoenix Capital. Read More
Cole Taylor Will Continue to Buy MSRs, New Call Center About to Open April 29, 2013 Paul Muolo Cole Taylor Mortgage, which has grown its servicing portfolio ten-fold in the past year, is now an active Ginnie Mae issuer. Read More
IMA in the Market with a $900 Million Flow MSR Deal April 29, 2013 Paul Muolo The "flow" market for mortgage servicing continues to improve. IMA is in the market with a new package and others are on the way. Read More
What Were Hearing: What Happened at that White House Mortgage Meeting? / GSE Net Worth May Double / Market Share to Shift to FHA? / Largest Decliners in Fundings Use Brokers / Whats Next for CashCall? April 26, 2013 The White House wants to change the HARP eligibility date, making more underwater borrowers eligible for the program, Inside Mortgage Finance has learned. Read More
Originations Flat at EverBank in 1Q, But Thrift is Ready to Part With Jumbos April 25, 2013 Paul Muolo EverBank funded $2.9 billion of home mortgages in the first quarter, a bit below one estimate of $3.3 billion.Read More
Michael Laus Pingora Buys Delaware Mortgage Banking Firm April 24, 2013 Paul Muolo Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm. Read More
Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
Flagstar Sees Production Decline, Stock Hammered in Trading April 24, 2013 Paul Muolo Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit. Read More