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Short Takes: Mortgage Master Top Lender in Massachusetts? / Nationstar Mortgage Executives Selling Shares / Help Save the FHA Multifamily Program

March 12, 2013
George Brooks and Paul Muolo
Is privately held nonbank Mortgage Master the Big Kahuna of residential lending in Massachusetts?
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Ocwen Continues to Gobble Up MSRs with $85B Ally Deal

March 12, 2013
Paul Muolo
The fast growing Ocwen Financial won the bid for Ally Financial's residential servicing portfolio.
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Non-Agency Jumbo Originations Up Nicely in 2012, More Product Choices Help

March 11, 2013
Brandon Ivey
An estimated $203 billion in non-agency jumbo mortgages were originated in 2012, according to a new tally from Inside Mortgage Finance.
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Allonhill CEO Diana Mead Departs Due Diligence Vendor

March 11, 2013
Paul Muolo
Due diligence provider Allonhill LLC loses its CEO Diana Mead.
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CFPB Probing Ally’s Retail Financing Practices

March 11, 2013
Thomas Ressler
The SEC is investigating Ally Financial's retail lending practices but there are no additional details on the specifics.
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Senator Seeks DOJ Investigation of LPS, Alleges Double-Billing, More

March 11, 2013
Charles Wisniowski
Mortgage vendor Lender Processing Services continues to have robo-signing related headaches, thanks to a request from Sen. Ron Wyden of Oregon.
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Jumbo Issuer Redwood Sells $288 Million of Debt

March 11, 2013
Paul Muolo
Redwood Trust taps the debt market for cash to support its jumbo MBS business.
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Short Takes: More Layoffs in the Foreclosure Review Space / FHFA IG Says Higher Rates Could Hurt the GSEs / Genworth Shares Spike / Waiting for Godot and Fannie’s 4Q Earnings

March 11, 2013
Paul Muolo
More foreclosure review workers are set to lose their jobs. This time the layoffs are happening at Aurora Bank of Denver.
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Cordray Nomination Hearing This Week, But Little Sign of a Deal Yet

March 11, 2013
The Senate Banking, Housing and Urban Affairs Committee plans to hold a hearing Tuesday, March 12, on President Barack Obama’s renomination of Richard Cordray to be director of the CFPB, this time for a five-year term, as opposed to the two-year term he’s currently serving under the president’s recess appointment. But there’s not much sign yet of any deal between supporters and opponents, according to most political observers. Sen. Bob Corker, R-TN, a member of the committee, said that after conversations over the past few weeks...
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CFPB Moves for Dismissal to Challenge of Cordray, UDAAP Role

March 11, 2013
The CFPB and other federal defendants have filed to dismiss a legal challenge to the bureau’s authority to identify “unfair, deceptive, or abusive” acts or practices, and the related assertion that President Obama’s appointment of Richard Cordray as director of the bureau was invalid because the Senate allegedly was not in recess at the time of the appointment. The case is State National Bank of Big Spring, et al., v. Neal S. Wolin, in his official capacity as Acting United States Secretary of the Treasury and ex officio Chairperson...
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