Mortgage Broker Market Share Matches All-Time Low, Retail at a High August 20, 2013 Paul Muolo Mortgage brokers are continuing to lose market share, but the decline could be temporary, especially if the megabanks run out of refis.Read More
Consumer Finance Lender Springleaf Files IPO, Targets Acquisitions August 20, 2013 Paul Muolo With the retreat of banks from the non-prime lending space, Springleaf says it is strategically positioned to grow in the years ahead.Read More
Short Takes: How Many Blown Dodd-Frank Deadlines Are There? / Chase Layoffs Hit San Ramon / Navy Federal Actually Cuts Rates / A Five-Percent Mortgage Soon? / CoreLogic Has Something for Servicers August 20, 2013 Paul Muolo and Thomas Ressler Okay, so banking regulators have blown multiple Dodd-Frank rule making deadlines. But for now the QM rule is on track. Right? Read More
PHH Getting Ready to Unload Mortgage Servicing Rights? August 19, 2013 Paul Muolo PHH Mortgage may unload billions of dollars in housing receivables, while remaining as the subservicer on the underlying loans. Read More
Short Takes: Provident Top Ranked Table Funder in 2Q / Realty Giant Files to Go Public, Cites Mortgage Risks / Mini-Correspondent Programs Sprout Up / Ex-Fannie Executive Wants Justice, Privatization / How to Spy on the CFPB August 19, 2013 Paul Muolo and Thomas Ressler Mini-correspondent lending is hot, but wholesale may be on the decline. Surprise: RE/MAX files to go public.Read More
Report: 20 Percent Downpayment, Premium Recapture Gone From QRM Rule August 15, 2013 Paul Muolo FBR notes that a key provision in the draft QRM rule is that any mortgage securitized by Fannie or Freddie is automatically a QRM. Read More
Cole Taylor Mortgage Sale Heats Up August 15, 2013 Paul Muolo Cole Taylor Mortgage is talking to several semi-finalists that want to buy the company. Meanwhile, it's business as usual at the bank-owned lender.Read More
Short Takes: PennyMac’s 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