Paul Muolo

U.S. Bank Searches for Chief Operating Officer for Mortgage Unit

August 8, 2013

According to figures compiled by IMF, U.S. Bank Home saw its residential fundings slip to $18.62 billion in the second quarter compared to $22.46 billion in the first.

Short Takes: Wells Cans 763 Mortgage Workers / Return of the Eminent Domain Jedi? / Delinquencies Continue to Improve / JPM Under the DoJ Microscope Because of Subprime / Bexil Enters NJ Wholesale Space / Wally and Penny Hit Earnings Home Runs

August 8, 2013

Brandon Ivey and Paul Muolo

Wells Fargo cuts 760-plus mortgage workers. Meanwhile, Bexil American enters the New Jersey market through the wholesale channel.

Sen. Warren Continues to Press FHFA on G-Fee Price Breaks

August 8, 2013

Paul Muolo

Specifically, Sen. Warren says she wants information on seller/servicers that were granted price breaks and the “basis” for “granting more favorable terms.”

Freddie Earns $5 Billion, G-Fee Charge at 51 Basis Points

August 7, 2013

Paul Muolo

In its earnings release, Freddie said it will not capture its deferred tax asset (DTA) valuation allowance which now stands at $28.6 billion.

Short Takes: So, Why Does the White House Want to Kill the GSEs? / Politicians Continue to Bash Fannie and Freddie / BofA Cuts Servicing Jobs in Pittsburgh / Wholesale Lending Makes a Comeback / Impac Comes on Strong

August 7, 2013

Paul Muolo

Who says that wholesale lending through loan brokers is dead? Carrington Mortgage and other firms are expanding in the sector.

Freddie Mac Has Worst MBS Issuance Month of the Year

August 6, 2013

Paul Muolo

Though the end of July, Freddie has issued roughly $302 billion of single-family MBS compared to $500 billion for Fannie.

Obama Hints at Corker-Warner Support, Pushes for HARP 3.0

August 6, 2013

Paul Muolo

The White House believes that the current housing finance system, where the government guarantees more than 80 percent of all mortgages through Fannie Mae, Freddie Mac and FHA, is unsustainable.