Paul Muolo

If you had the steel nerves to buy thousands of shares in Bank of America stock a few days ago at $6.01 each then you woke up this morning to the happy news that Warren Buffett will invest $5 billion in the struggling megabank. If you bought the stock at just over $6, your two-day return would be 29%. Not bad.

Sales of homes that were in some stage of foreclosure or bank-owned status accounted for 31% of all residential transactions in the second quarter, a slight decline from 1Q, according to new figures released by RealtyTrac.

Flagstar Bank FSB, a top 15 ranked residential lender, Wednesday afternoon acknowledged that it received a delisting warning from the New York Stock Exchange because of its low share price.

As we all know, residential application volumes have been climbing now that 30-year FRMs can be had for 4% or less, but as everyone mortgage lender knows this is a cyclical business. Will full-time processors hired today be needed three months from now?

Iowa Attorney General Tom Miller late Tuesday removed New York AG Eric Schneiderman from the executive committee of a coalition seeking a civil settlement with the nation's megaservicers, saying he had "actively" undermined the group's efforts over the past few months.

New home sales came in at an annualized rate of 298,000 units in July, a slight decline from the prior month, and a sign that ultra low mortgage rates are still not moving sales off their Depression levels.

I just returned from a week long vacation in the South New Jersey shore area with good news: the rental market is fairly strong with prices holding steady.

Interactive Mortgage Advisors, LLC, said it will auction off an $88 million bulk mortgage servicing package tied to Fannie Mae, Freddie Mac and GNMA loans.

Although mortgage rates hit a 50-year low last week, don't expect them to bail out the ailing U.S. housing market.

Tom Millon and Capital Markets Cooperative, a secondary marketing specialist based in North Florida, are in an enviable position: they have $100 million of Wilbur Ross' money and aim to spend it—though they are in no rush to do so.

Say what you will about stock market crashes, but the latest carnage in equities is causing mortgage application volumes to spike - by as much as 30% at some shops.

So, which firm bought Bank of America's $73 billion mortgage servicing package? Before we provide an answer, the first question you need to ask is this: What do you mean by "bought"?

Thanks to crumbling mortgage rates loan applications are up by at least 30% at Skyline Financial, Agoura Hills, Calif., a nonbank lender headed by industry veteran Bill Dallas.

Deutsche Bank has been chosen to sell Aurora Loan Services, the Colorado-based mortgage banking division of Aurora Bank FSB, according to industry officials.

Interactive Mortgage Advisors, LLC has been hired to sell a full service mortgage banking firm – including production, servicing and insurance units – but is keeping the identity of the company a secret, at least for now.

Over the past few days U.S. mortgagors have caught a wicked case of 'Refi Fever.' Oh, but will it last? With Friday's bond market close several hours away one thing is clear: mortgage rates are no longer tumbling, which means anyone hoping for a 2% 30-year fixed rate loan can forget about it.

Home Loan Servicing Solutions Ltd., a newly formed Cayman Island corporation controlled by Ocwen CEO Bill Erby, plans to sell 18.3 million shares in its initial public offering, raising $316.3 million from investors.

If there was ever any doubt that the mortgage market is in the midst of a restructuring, consider this: roughly $260 billion of mortgage servicing rights are currently up for grabs.

What goes down 600 points one day, rises 400 the next, then falls 500, only to jump 200 on the fourth day? Answer: the Dow Jones Industrial Average, of course. I'm no expert on stocks except to offer this advice: buy low, sell high.

The warehouse commitment business is booming at People's United Bank of Connecticut which last fall hired industry veteran Paul Best from PNC Bank to run its operation.