Flagstar's gain-on-sale margin fell to 135 basis points compared to 184 bps in 1Q21. The company also reduced the asset value of its mortgage servicing portfolio...
Despite the fact that PMI has been acting as a reinsurer to Arch Mortgage Insurance (Arch bought some of its assets in 2014 as it gained entry to the sector), PMI has a bare-bones website and a skeleton management crew headed by Ray Chang and Thomas Clancy, who are listed as chief financial officer and chief operating officer, respectively.