Specialty Servicer Wingspan Cuts Jobs in LA, But Not Saying How Many October 7, 2014 Paul Muolo Wingspan is a specialty servicer, a space that is looking increasingly crowded these days.Read More
Short Takes: Student Lender Enters Jumbo Mortgage Space / How are Mortgage Lenders Feeling? Not So Good / Ralph Nader Unhappy with GSE Decision / Why is Johnson-Crapo Even on the Senate Legislative Calendar? October 7, 2014 Brandon Ivey, Paul Muolo, and Charles Wisniowski Quick question: What’s the difference between student loan debt and mortgage debt? One is impossible to extinguish by going through bankruptcy. Read More
Nonbank ‘Working Group’ Includes Ocwen, Probably Nationstar, but No Quicken October 6, 2014 Paul Muolo The initiative – which is being spearheaded by The Collingwood Group – comes at a time when the share prices of publicly traded mortgage companies have reached new lows.Read More
MountainView Readies ‘Non-Prime’ Correspondent Program for Late October October 6, 2014 Paul Muolo MountainView also will extend credit to borrowers who recently completed bankruptcy.Read More
Short Takes: 3Q (Mortgage) Earnings Blues for the Megabanks? / Mr. Ackman, Would You Like to Restate That Prediction? / Rudy Orman Leaves RCS / A ‘Friends of Tony’ Mortgage? / Auction.com Selling Loans and MSRs October 6, 2014 Paul Muolo Back in May, Pershing Square founder William Ackman said the common stock of Fannie Mae and Freddie Mac could be worth at least $23 a share. Huh?Read More
Waiting for a Non-QM MBS is Like Waiting for Godot October 3, 2014 Paul Muolo Skyline Lending is ready to roll out a new non-agency product and plans to place the loans in what the company calls a “structured holding cell.” Read More
What We’re Hearing: M&A Boom Brings High Anxiety for Loan Officers / Ben Bernanke, Subprime Borrower? / Is Pershing Square Getting Nervous on its GSE Investment? / Quicken: The Nonbank ‘Working Group’ is Not for Us October 3, 2014 Paul Muolo According to one deal-maker, after a merger, anywhere between 30 percent to 40 percent of a company’s LOs might choose to leave.Read More
$1 Billion-a-Year Lender Decides to Outsource Residential Production to Guild October 2, 2014 Paul Muolo Mutual of Omaha bank said it remains "committed" to the mortgage business, even though it's closing the retail channel.Read More
Altisource Residential Completes its First NPL Securitization; More Deals Ahead? October 2, 2014 Paul Muolo In the second quarter, Altisource Residential agreed to buy 4,374 nonperforming mortgages that carry an underlying collateral value of $1.23 billion.Read More
Short Takes: No ‘Dead Cat’ Bounce for Fannie, Freddie Stocks / General Custer and the GSEs / One Borrower, Multiple (Investor) Loans with FHA / FHFA Wins Another Court Case Too October 2, 2014 Paul Muolo and Charles Wisniowski So, is now a good time to buy into Fannie Mae and Freddie Mac? It's a game not for the faint of heart.Read More