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Short Takes: Mortgage Interest Deduction Could be Neutered / Trump Getting Close on Pam Patenaude for HUD Deputy Post / DocMagic Posts Strong Growth / Chimera Busy with Seasoned MBS / Fannie Mae Official Leaves for Due Diligence Firm

April 5, 2017
Paul Muolo and Brandon Ivey
It appears the Trump White House is once again seriously considering Pam Patenaude to be the deputy HUD secretary...
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Dodd-Frank Co-Author Accuses GOP of Hypocrisy, Defends the CFPB

April 5, 2017
Thomas Ressler
The media call with Barney Frank was sponsored by the Constitutional Accountability Center, which assisted scores of current and former Democrat members of Congress in filing an amicus brief in defense of the CFPB.
Read More

Banks Still Dominate the FHA Servicing Market. But for How Long?

April 5, 2017
George Brooks
The top five FHA servicers are: Wells Fargo, JPMorgan Chase, Cenlar Federal Savings Bank, U.S. Bank and PennyMac Loan Services.
Read More

Three Walter Board Members Give Notice, Annual Shareholders Meeting Looms

April 5, 2017
Paul Muolo
Employee turnover is becoming a trend at Walter. Two weeks ago, the company's chief legal officer Jonathan Pedersen resigned.
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After Being Smacked Down by Regulators, Ocwen Says It’s Been Transformed

April 5, 2017
Brandon Ivey
In an interview, Ocwen’s chief compliance officer said: "We are a fully-transformed company and very anxious to break away from some of the regulatory constraints..."
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In its Latest PHH Filing, the CFPB Sticks to the Main Premise: the Bureau’s Structure is Constitutional

April 4, 2017
Thomas Ressler
The CFPB noted: “The bureau’s constitutionality has been challenged frequently, but has yet to be addressed by a court of appeals…”
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Fast-Growing Nonprime Lender Angel Oak Adds Four Executives, Aims to Double Sales Force

April 4, 2017
Paul Muolo
Angel Oak employs 52 wholesale account executives and hopes to add three to four additional ones a month.
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Signs of Life in the Ginnie Mae Servicing Market? Not Really, but…

April 4, 2017
Paul Muolo
Servicing brokers believe that the relatively strong showing in Ginnie transfers in the fourth quarter might have been an aberration…
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Short Takes: Skyline Posts Strong Purchase Lending Numbers / Banks and CUs Pony Up to the IO Bar / Flagstar’s New Wealth Advisory Business / Thanks to AVMs and Google Earth, All Appraisers May be Toast / Frommeyer Leaves NAMB

April 4, 2017
Paul Muolo
A former Utah appraiser said she lost her job to AVMs and now drives a bus for $40,000 a year...
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Coming May 1: FHA’s New Loan Review System (Defect Taxonomy)

April 4, 2017
George Brooks
The ultimate goal of the LRS is to reduce lenders’ liability risk and minimize overlays…
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