Hard-Money Lender May Quadruple Production This Year April 25, 2013 Paul Muolo Residential fundings by hard-money lender CALCAP Advisors are on the rise, a bright sign for the sector.Read More
Fannie and Freddie Spreading the Word on Coming G-Fee Hike April 25, 2013 Paul Muolo The worst kept secret in the mortgage industry is that a guaranty fee hike is coming. But no one knows when.Read More
Originations Flat at EverBank in 1Q, But Thrift is Ready to Part With Jumbos April 25, 2013 Paul Muolo EverBank funded $2.9 billion of home mortgages in the first quarter, a bit below one estimate of $3.3 billion.Read More
Michael Laus Pingora Buys Delaware Mortgage Banking Firm April 24, 2013 Paul Muolo Michael Lau, the man who helped Phoenix Capital corral Bank of America as a client, has purchased his own mortgage banking firm. Read More
Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
Flagstar Sees Production Decline, Stock Hammered in Trading April 24, 2013 Paul Muolo Although Flagstar earned money on its mortgage business in the first quarter, its gain-on-sale margin took a major hit. Read More
Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesnt Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUAs Radar? April 23, 2013 Paul Muolo Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks. Read More
Prices Climbing for Jumbo Mortgages April 23, 2013 Paul Muolo The jumbo market is heating up, which means the price paid for whole loans is on the rise.Read More
Vericrest the High Bidder on $16 billion of BofA MSRs April 23, 2013 Paul Muolo Vericrest Financial is said to be the winning bidder on a $16 billion package of mortgage servicing rights. However, the company would not comment. Read More
Short Takes: Need Seller/Servicer Approvals? Bring Your Check Book / IMA Selling Ginnie Bulk MSR Deal / Fitch Worries About CMBS / Will the Senate Grill CFPBs Cordray? / New Hire at WFG National Title April 22, 2013 Paul Muolo and Thomas Ressler Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights. Read More