HomeStreet Strikes Deal to Sell MB Offices to NJ Nonbank April 5, 2019 Paul Muolo It looks as though the Seattle-based HomeStreet is slowing kissing the residential mortgage business goodbye...Read More
Phoenix Selling Bulk MSRs for NC Nonbank April 4, 2019 Paul Muolo California and Florida product account for 44% of the receivables…Read More
Short Takes: Tennessee Bank Exiting Third-Party Production / Plaza Home Expands Non-QM Offerings / 23 Groups Want Expedited Vote on FHFA Nominee / Calabria Knows the Risks / The Signors Are… April 2, 2019 Paul Muolo and Brandon Ivey The letter does not specify what these new policies might be. Some type of administrative reforms, perhaps?Read More
MorVest Hires M&A Veteran Larry Charbonneau April 2, 2019 Paul Muolo Over the years, Charbonneau has advised on at least 90 M&A transactions, involving both depositories and nonbanks.Read More
A Large Debt Offering from Freedom Mortgage April 1, 2019 Paul Muolo The $250 million in debt is in the form of senior unsecured notes due in 2024. Read More
VA-Based Nonbank Scuttles Merger with Congressional Bank March 20, 2019 Paul Muolo Congressional has seven branches and $949.7 million in assets. It earns roughly $16 million a year.Read More
Prestwick Offers Up Fannie Mae MSR Portfolio on Behalf of Michigan Bank March 19, 2019 Paul Muolo The servicing package has an average FICO score of 740 and delinquencies of 1.94%.Read More
Short Takes: Why the GSE Net Worth Sweep Won’t be Reversed / Recap and Release? / A Much-Watched Profit Reading / Starwood and Impac, a Symbiotic Relationship / Bank Failures, Anyone? / Reverse Lender Hires Sales Chief March 19, 2019 Paul Muolo and Brandon Ivey Each quarter, GSE profits reduce the federal budget deficit. If that cash is forfeited...Read More
Genworth Sale Continues to Drag On, Ninth Waiver Granted March 18, 2019 Paul Muolo The sale of Genworth was first announced in October, 2016…Read More
Phoenix Capital and MIAC Unveil New MSR Auctions March 13, 2019 Paul Muolo MIAC is also ready to take final bids on a $315.3 million Fannie/Freddie/Ginnie Mae MSR portfolio…Read More
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