Short Takes: PennyMacs Recent NPL Deals Near $1 Billion / Cash-Out Refis Continue to Tank / MGIC Shows More Progress / MountainView Hopes to Capitalize on Mortgage M&A / Surprise: HUD Cancels Some Furlough Days August 15, 2013 George Brooks and Paul Muolo PennyMac is once again stepping up to the NPL plate with some major deals. Meanwhile, cash-out refis continue to dwindle.Read More
PennyMac Raising $248 Million in Equity, Will Buy Nonperforming Loans August 14, 2013 Paul Muolo The market did not react kindly to PennyMac's announcement about selling more shares of common stock. Read More
Bank of America Selling $22 Billion of Ginnie Mae MSRs August 14, 2013 Paul Muolo If you thought that Bank of America was done selling mortgage servicing rights, think again.Read More
Short Takes: Going, Going, Gone: GSE Buybacks? / CapWest Enters the Wholesale Arena / Redwood About to Reward Its Executives? / The Terrible Twos for the CFPB / Fannie Mae Hired Someone It Was Suing August 14, 2013 Paul Muolo and Thomas Ressler It would appear that the GSE buyback scourge may be winding down. Meanwhile, Fannie Mae has egg on its face over someone it hired.Read More
FHFA Hires Spencer Stuart for Common Securitization Platform CEO Search August 13, 2013 Paul Muolo FHFA has handed over a list of CEO candidates to Spencer Stuart, which bills itself as an international recruiting firm with 54 offices in 29 countries. Read More
Wells Fargo Continues Retail Domination, Chase a Distant Second August 13, 2013 Paul Muolo Over the rest of the decade will any lender be able to challenge Wells Fargo's dominance in the retail channel? A new ranking suggests not.Read More
Four Banks Contemplating Nonprime Warehouse Lines? August 13, 2013 Paul Muolo Is the warehouse market about to open up to select hard money lenders? Perhaps, but it won't be a tidal wave.Read More
Short Takes: CashCall Sued by NY AG but Not Over Mortgages / Sen. Jack Reed Shows Some Love for the GSEs / QRM Coming Soon? / ASF Tells Servicers to Reject Eminent Domain Offers / Trailer Park Loans Get an Appraisal Break August 13, 2013 George Brooks and Paul Muolo CashCall may be in trouble with New York State. So, where's Senator Reed's GSE bill?Read More
With Refis Tanking, Can CashCall Get Sold? August 12, 2013 Paul Muolo As refinancings continue to fall, lenders that specialize in such loans will see their franchise values drop dramatically. Read More
Bulk Market Continues to Spit Out MSR Offerings August 12, 2013 Paul Muolo Investors searching for residential servicing rights can take a run at new offerings from Interactive Mortgage Advisors and MIAC, among others.Read More