FHFA OIG Wants Performance Measures on G-Fee Hikes July 16, 2013 Paul Muolo In 2012 single-family g-fees allowed Fannie Mae and Freddie Mac to collect $12.5 billion from its seller/servicers.Read More
Mortgage Master Continues Lending Dominance in Bay State July 16, 2013 Paul Muolo Mortgage Master continued its dominance in Massachusetts mortgage lending. Jumbo loan production swelled by 65 percent.Read More
Short Takes: Cordray Confirmed as CFPB Chief? / LPS Looked at Buying Mortgage Cadence / Joe Garrett Tells Lenders to Cut Now / Allonhill Starts Hiring / Fannie Says Market Could Move Toward ARMs July 16, 2013 Paul Muolo and Thomas Ressler Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.Read More
Warehouse Available for Private-Money Mortgages? July 15, 2013 Paul Muolo Warehouse lenders hold the key to liquidity in the non-prime and private money sectors.Read More
Short Takes: MBA Chief Warns About an Imperfect Solution / A Rosy Outlook for GSE Reform? What? / Gain-on-Sale Not So Bad / Ocwen Goes After HARP Refis / Nomura Has No Jumbo Conduit July 15, 2013 Brandon Ivey, Paul Muolo, and Charles Wisniowski MBA president Dave Stevens is concerned that events could soon overtake policy makers and force an imperfect solution to Fannie Mae and Freddie Mac.Read More
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