SEC Approves Shellpoint Shelf, Paving the Way for ‘Prime Quality’ Non-Agency MBS May 8, 2013 Paul Muolo A company affiliated with MBS co-inventor Lewis Ranieri is moving closer to issuing a security backed by "prime-quality" non-agency loans.Read More
Freddie Posts Huge Earnings for 1Q13, Ponders $30B of Deferred Tax Assets May 8, 2013 Paul Muolo and Charles Wisniowski Freddie Mac has been profitable for six quarters but needs to show positive earnings for six more before it can recapture its deferred tax asset. Read More
Short Takes: $750 Million of NPLs to Bid This Week / Two Harbors in the Hunt for ‘Re-performing’ / Investors Will Continue to Dump Non-Agency MBS / NAFCU Upset with FHFA Edict on QM / Former Ally Executive Gets Hired by MBS Group May 8, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler A $750 million offering of nonperforming mortgages is expected to go down this week. Meanwhile, NAFCU is mad at FHFA over the QM rule.Read More
Nationstar to Buy Direct-to-Consumer Lender, Increases Flow MSR Goals May 7, 2013 Paul Muolo Nationstar Mortgage is getting serious about the origination business. On Tuesday it revealed plans to purchase a high-volume call center operation.Read More
Caliber Enters the Correspondent Channel, Taps PennyMac Executive May 7, 2013 Paul Muolo Caliber Funding sees a huge opportunity in correspondent lending.Read More
Short Takes: Industry Wants Lower GSE Loan Limits / FirstREX Will Take Equity in a Home / Cramer Likes Ellie / United Guaranty on a Roll / About that FHA Premium Promise… May 7, 2013 George Brooks and Paul Muolo The mortgage industry wants lower Fannie Mae/Freddie Mac/FHA loan limits. But will it happen?Read More
Nationstar Launches $1.375 Billion Debt Offer, Mentions Suspension of Foreclosures May 6, 2013 Paul Muolo Business must be good for Nationstar Mortgage. The fast growing servicer is trying to pull off a huge debt swap. Read More
Steadfast Wants to Help Nonbanks Raise Capital / Stevens Seeks a Dialogue with FHFA on New Regs / BofA (Sort of) Comments on MSR Sale / Daurio Continues Hunt for Subprime Cash / GSE MF Worthless? May 6, 2013 Paul Muolo and Charles Wisniowski A new investment banking firm wants to help nonbanks raise capital.Read More
IMA Finds Buyer for $12.7B of MSRs, Floats Another Large Package May 2, 2013 Paul Muolo The bulk servicing market is showing signs of heating up: IMA has two deals totaling $23 billion in the works. Read More
California Nonbank Skyline May Double Originations This Year May 2, 2013 Paul Muolo Skyline Home Loans, a shop controlled by industry veteran Bill Dallas, could double loan originations this year. Roughly 35 percent of its fundings entail purchase money loans. Read More