Short Takes: Delinquencies on OneWest MSR Portfolio Sky High / Norcom Tapping Mini-Correspondent Market / Flagstar Ramps Up Second Liens / Amy Brandt Moves Up July 25, 2013 Brandon Ivey and Paul Muolo Ocwen will have plenty of "high touch" loans to work on when it finally takes control of the OneWest portfolio. Meanwhile, the second lien market is heating up. Read More
Wells Fargo Pulls the Plug on Its Remaining Mortgage JVs, Citing Regulatory Oversight July 25, 2013 Paul Muolo Although Wells Fargo promised some JVs that everything was "fine" earlier in the year, the megabank is now exiting the joint venture space.Read More
CFPB Accuses Castle & Cook of Paying 500 Quarterly Bonuses Tied to Loan Terms July 24, 2013 Paul Muolo If the CFPB is successful in its case against Castle & Cook, will the loan officers have to pay back the bonus money?Read More
Flagstar Wants to be a Major Player in Subservicing Arena July 24, 2013 Paul Muolo Is Flagstar about to pull off a massive sale of MSRs?Read More
Short Takes: MGIC Increases Business by 45 Percent / More Foreclosure Reviews Coming? / Are MBS REITs Toxic? / Application Decline Not So Bad / Uncle Continues to Milk GSE Earnings July 24, 2013 Paul Muolo Not only have Fannie Mae and Freddie Mac staged a comeback, but so has MGIC. The MI giant finally turned a profit and sees better days ahead.Read More
Thanks to Higher Rates, Mortgage IPOs Could Prove More Difficult July 23, 2013 Paul Muolo The easy money may be over for mortgage IPOs, but that doesn't mean deals won't get done.Read More
Specialty Servicer Statebridge Gets Cash Investment to Grow Platform July 23, 2013 Paul Muolo Statebridge, which was founded in late 2008, is looking to grow its subservicing platform. The company is licensed in all 50 states.Read More
Short Takes: Skyline Looking for Loan Officers / Highlands Residential Has Applications Pending in Several States / Freddie Mum on Risk-Sharing MBS Deal / Quicken Continues to Push HARP / Democrats Call Hensarling Bill PATH to Nowhere July 23, 2013 Brandon Ivey, Paul Muolo, and Charles Wisniowski The hiring news isn't all bad in mortgage banking: Skyline Home Loans is looking for loan officers and Highlands recently hired some top executives.Read More
As Rates Rise, Banks Boost MSR Valuations But Are the Marks Too Aggressive? July 22, 2013 Paul Muolo The higher MSR values are not surprising, but the level of these increases have some mortgage professionals scratching their heads.Read More
Fannie Cuts Origination Forecast for 2013 and 2014 July 22, 2013 Paul Muolo Purchase money lending will increase in 2014 but overall originations could swoon, according to a revised forecast from Fannie Mae.Read More