AIG Launches New Unit to Buy Whole Loans, Taps Street Vet For Top Job March 6, 2013 Paul Muolo AIG is now buying whole loans on a correspondent basis and will portfolio the product, at least for the time being.Read More
Short Takes: A 70-BP G-Fee May Lead to Private Conventional MBS / Impacs Comeback Continues / Will Cordray Make the Cut This Time? / Ocwen Loses Chief Accounting Officer / MGIC, a Hot Stock March 6, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler Will a private conventional MBS market ever happen? If GSE g-fees keep rising, yes.Read More
Early Signs of Rebound For Piggyback Financing March 5, 2013 Paul Muolo It appears that 80-10-10 loan structures are making a comeback in the market, helping homeowners avoid paying private mortgage insurance.Read More
Coming Soon From Fannie Mae and Freddie Mac: a 70BP G-Fee March 5, 2013 Paul Muolo The mortgage industry is bracing for a 70 basis point guaranty fee from Fannie Mae and Freddie Mac. Read More
Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive March 5, 2013 Paul Muolo Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.Read More
GMH Hires GMAC Executive as SVP of National Production March 4, 2013 Paul Muolo GMH Mortgage Services, which is barely five years old, has hired GMAC veteran Frank DiMaio to run national sales.Read More
Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India? March 4, 2013 Paul Muolo Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.Read More
Short Takes: Fear Surrounding FHA Compare Ratios / Popular Bank To Unload $1 Billion-Plus of Delinquent Loans / CFPB About to Get Trimmed / Delinquencies Continue to Fall at Fannie / Okay, Whos Servicing Sen. Warrens Mortgage? March 4, 2013 Paul Muolo and Thomas Ressler Some lenders are concerned about the coming 'FHA Scorecard' and the ability of certain large funders to make their numbers look good.Read More
FHFAs DeMarco Promises Movement on Common MBS Platform in 2013, $30 Billion in Risk Sharing, and NPL Sales March 4, 2013 Paul Muolo It appears the GSE "common" securitization platform will happen this year.Read More
Citadel Servicing Raises $200 Million for New Nonprime Mortgage Lending March 1, 2013 Paul Muolo Citadel Servicing of California has raised $200 million from private investors to originate new residential subprime loans, Inside Mortgage Finance has learned.Read More