Mortgage Banking: Its All About Rates, Still Purchase-Money Holding Up June 27, 2013 John Bancroft and Paul Muolo Mortgage bankers continue to talk about declining refi applications but purchase money firms remain mostly optimistic about their prospects.Read More
REIT With Ties to Freedom Mortgage Files Updated IPO, Sizes MSR Purchase Market at $2 Trillion June 27, 2013 Paul Muolo Stan Middleman, founder and CEO of Freedom Mortgage, will buy $20 million worth of stock in the new REIT, which (of course) has ties to Freedom.Read More
MountainView Hits Market with $1.2 Billion of MSRs June 27, 2013 Paul Muolo The secondary market for residential servicing rights remains robust.Read More
Short Takes: JPM Staffers Bolt for Freedom Mortgage / Affiliated Goes Wholesale / Is Art Ringwald Back in Mortgages? / OCC Says Loan Performance Continues to Improve June 27, 2013 Paul Muolo JPM is losing certain staffers to Freedom Mortgage. Meanwhile, is Art Ringwald contemplating a return to mortgage banking? Read More
Bexil American Mortgage May be Headed Toward the Auction Block June 26, 2013 Paul Muolo One source said Bexil shareholders will hold a meeting on the issue, possibly by weeks end. Read More
FBR: Thanks to Rate Volatility Jumbo Securitization Market All but Closed June 26, 2013 Paul Muolo The recent rate spike is causing concerns in the jumbo market, particularly for issuers.Read More
Short Takes: Origination Profits Tumble 21 Percent / Former Senate Staffer on Corker-Warner: Are They Sniffing Glue? / Lender Pulls Out of New Jersey Because of Fraud? / White House GSE Petition Running out of Time June 26, 2013 Paul Muolo and Charles Wisniowski Are huge origination profits a thing of the past? Meanwhile, time is running out on the White House GSE petition.Read More
Fannie Bifurcation Program for Servicing Helps Firm Up MSR Market June 25, 2013 Paul Muolo One of the best kept secrets in the servicing sector is a bifurcated mortgage program initiated by Fannie Mae that has been gathering momentum over the past six months. Read More
Corker-Warner Bill Introduced in the Senate, Wants MBS Guarantors to Have 10 Percent Capital June 25, 2013 Paul Muolo Want to issue MBS in the mortgage market of the future? Better bring your wallet.Read More
Short Takes: ICBA Welcomes GSE Bill But / Look Who Owns Part of Bexil American Mortgage / Lehman Tops Buyback Dispute List / Eminent Domain, Going Nowhere Fast June 25, 2013 Paul Muolo Piper Jaffray owns 8.72 percent of Bexil Corp., the parent of Bexil American Mortgage. Meanwhile, ICBA likes the Corker-Warner bill, but... Read More