CitiMortgage Sees Originations Fall but Marks Up Asset Value of MSRs July 15, 2013 Paul Muolo Citigroup is becoming more aggressive in residential lending, especially in the jumbo space. Read More
Wells Boosts Residential Lending by 2 Percent in 2Q; JPMs Mortgage Earnings Rise 143 Percent July 12, 2013 Paul Muolo Wells Fargo and JPM posted strong mortgage results for the second quarter. But what lies ahead for the industry? Read More
PREO Mortgage Bought by First Key, a Cerberus Unit July 11, 2013 Paul Muolo Cerberus' purchase of PREO Mortgage of Atlanta could be the beginning of something big for the company.Read More
Carrington Mortgage EVP Rick Sharga Departs for Auction.com July 11, 2013 Paul Muolo Over the years Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee.Read More
Short Takes: Wells Employee Arrested in Money Laundering Probe / Applications Off 25 Percent at Some Shops / Reg Relief for Small Balance Mortgages / MBA Wants Say on Securitization Platform / Foreclosures Continue to Tumble July 11, 2013 Paul Muolo In general, mortgage applications are off 25 percent from their peak. Meanwhile, a Wells Fargo employee with an NMLS number has been arrested. Read More
How Hot Are Mortgage Servicing Rights? 25 New Investors Since January July 10, 2013 Paul Muolo A year ago, only two to four bidders would show up for an MSR auction. But those days are long over. Read More
Fannie Will Auction $1 Billion of Non-Agency Product July 10, 2013 Paul Muolo As reported by Inside MBS & ABS earlier in the year, the two GSEs are sitting on large unrealized gains on some of their MBS holdings, including non-agency. Read More
Short Takes: Zero-Down Mortgages for Up to $650,000 / Sandler No Longer in Total Love with Wells / National Housing Trust Fund Robbed by Regulators? / GOP Up in Arms Over Big Brother CFPB / New FHA Bill? July 10, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski Need a zero-down mortgage for $650,000? Another Washington-area credit union steps up to the plate.Read More
PennyMac Financial Services Gets $200 Million Repo Line July 9, 2013 Paul Muolo PMFS, an affiliate of PennyMac Mortgage Investment Trust, said the repo line will be used to fund new residential originations. Read More
Mortgage Employment Begins to Fall, But FBR is Bullish on Lending July 9, 2013 Paul Muolo Any lender that has refis greater than 50 percent could be at risk for layoffs, said one industry consultant.Read More