The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Politics & Money

Countrywide Rallies on Rate Cut; Worried Depositors Pull Out Cash

Countrywide jumped on news earlier today that the Federal Reserve had cut the discount rate by 50 basis points – the company was up nearly 11 pecent to $21.00 per share as of when this post was published. In spite of the jump, clear signs of uneasiness exist. The LA Times reported that numerous customers rushed the bank yesterday to pull out large sums of deposited funds — including even the president of troubled lender Impac Mortgage Holdings:

Bill Ashmore drove his Porsche Cayenne to Countrywide’s Laguna Niguel office and waited half an hour to cash out $500,000, which he then wired to an account at Bank of America. “It’s because of the fear of the bankruptcy,” said Ashmore, president of Irvine’s Impac Mortgage Holdings, which escaped bankruptcy itself recently by shutting down virtually all its lending and laying off hundreds of employees. “It’s got my wife totally freaked out,” he said. “I just don’t want to deal with it. I don’t care about losing 90 days’ interest, I don’t care if it’s FDIC-insured — I just want it out.”

No word yet on whether Ashmore’s comments apply to his own mortgage operation. Update: Banc of America Securities upgraded Countrywide to “neutral” from “sell,” although the price target dropped to $21 from $31.

Most Popular Articles

Ex-loanDepot COO: Tony Hsieh cut corners to boost volume

The suit, filed by former COO Tammy Richards, accuses loanDepot CEO Anthony Hsieh of ordering the sales team to “trust [their] borrowers” and close loans, disregarding proper underwriting etiquette. 

Sep 23, 2021 By and

Latest Articles

Agent fired after hack exposed alleged racist, Holocaust-denial views

According to data obtained by “hacktivist collective” Anonymous, from domain registrar Epik, Alayon allegedly tried to register domains including theholocaustisfake.com, whitechristianrepublican.com, whitesencyclopedia.com and Chinese-coronavirus.com.

Sep 27, 2021 By
3d rendering of a row of luxury townhouses along a street

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