FoA Strikes Deal to Unload Its Fix-and-Flip Unit February 21, 2023 Paul Muolo FoA, once a prime and non-QM lender/servicer, has been restructuring its business over the past year...Read More
Mutual of Omaha Buys Assets from Realtor’s Mortgage Company February 21, 2023 Paul Muolo The Keller Williams real estate brokerage boasts 1,100 offices and 200,000 associates.Read More
Short Takes: FHA MIP Cut to be Announced Wednesday / How M&A Can Pay Off (American Pacific) / The Farner Revelation / Timing / So Long, Subservicer / Deephaven’s New COO Hails From GR February 21, 2023 Paul Muolo The Piper report notes, “A change at the CEO level prior to a pending earnings announcement presents some consternation"...Read More
HomeLend, New Non-QM Conduit, Courting Foreign Investment February 14, 2023 Paul Muolo The new firm, based out of New York, matches investors and lenders and wants to enter the securitization space this year.Read More
Large Amount of Non-QMs ‘Stuck’ on Warehouse Lines February 13, 2023 Paul Muolo and Brandon Ivey Upwards of $1.0 billion of non-QMs are sitting on warehouse lines that would have typically been sold months ago, according to one estimate.Read More
Nonbanks Still Working to Sell Older Non-QMs February 10, 2023 Paul Muolo and Brandon Ivey Angel Oak Mortgage is among the nonbanks trying to sell off somewhat seasoned non-QMs that have interest rates well below prevailing rates.Read More
A $1M Profit at Mr. Cooper as Lending Suffers but MSRs Buoy February 10, 2023 Paul Muolo Management shelled out $23 million during 4Q to cover severance payments to laid off workers and for property consolidation.Read More
Short Takes: More MSRs to Buy / $85B? / CS Sells Part of SPG / Illinois Stops Strauss in His Tracks February 10, 2023 Paul Muolo and Dennis Hollier Whatever happened to the sale of SPS?Read More
New Non-Agency Conduit Eyes Foreign Investors February 9, 2023 Paul Muolo Another marketplace for non-agency loans? Looks that way. But HomeLend wants to tap foreign investors that have a thirst for American mortgages.Read More
In the Rearview Mirror: Easy Ginnie EBO Profits February 9, 2023 Paul Muolo Ginnie EBOs tanked in the fourth quarter to just $620 million. Meanwhile, new earnings reports show just how much the reduction has affected companies engaged in such activities.Read More