Walter’s Reverse Unit Gets $100 Million Warehouse Line From RBS March 7, 2013 Paul Muolo Reverse Mortgage Solutions has tapped RBS for a large warehouse line of credit that matures next year.Read More
Nationstar Posts Strong Earnings, Unveils GNMA Servicing Deal March 7, 2013 Paul Muolo Nationstar Mortgage earned $63.8 million in the fourth quarter as it continued to snatch up MSR packages.Read More
Short Takes: Fannie Selling $250 Million of NPLs? / Vericrest Names New CEO / Consumers Get a ‘Free Lunch’ of Lower Rates / LLPAs Not Going Away Soon March 7, 2013 George Brooks, Paul Muolo, Thomas Ressler, and Charles Wisniowski Fannie Mae is about to offer $250 million of nonperforming mortgages for sale in the secondary market.Read More
Former Goldman Sachs Managing Director Launches Subprime Company March 6, 2013 Paul Muolo A former loan trader at Goldman Sachs has launched a new subprime mortgage company offering LTVs as high as 75 percent.Read More
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 / Impac’s 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