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Former Countrywide Executive Up for Top Job at Vericrest?

February 14, 2013
Paul Muolo
Joe Anderson, who worked at Countrywide Financial Corp. for 17 years and then Nationstar, is considered the top candidate to get the CEO job at Vericrest Financial.
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Private MIs Finish 2012 With Strongest Production in Four Years

February 14, 2013
John Bancroft
Thanks, in part, to HARP loans private mortgage insurers in 2012 posted their best year since the financial market collapse back in 2008, according to new figures compiled by Inside Mortgage Finance.
Read More

Short Takes: FHA Chief Worries About Pricing Borrowers Out of the Market / Fortress Has Plenty of Cash to Spend on MSRs / Former Freddie Executive Key Player in Cerberus REIT / New Penn Hires Correspondent Chief / Fay Servicing Who?

February 13, 2013
Paul Muolo and George Brooks
Fortress Investment Group has raised $1.6 billion to buy mortgage assets, including servicing rights.
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Fannie Moves Closer to Selling Nonperforming Mortgages, Hires Milestone

February 13, 2013
Paul Muolo
Fannie Mae is working on a plan to sell billions of dollars of nonperforming loans in the second quarter.
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Industry Expects GSEs to Double Seller Net-Worth Minimum

February 13, 2013
Paul Muolo
Officially, the GSE net-worth minimum is set at $2.5 million, but some in the industry think it will double eventually.
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Industry Can Question CFPB on Mortgage Rule Interpretations

February 13, 2013
Paul Muolo
The CFPB said mortgage lenders can ask the agency "important" interpretation questions on the many rules that it finalized this year.
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Obama to Congress: ‘Take a Vote and Send Me’ HARP 3.0

February 13, 2013
Charles Wisniowski
President Obama, during his State of the Union address, urged Congress to get the HARP 3.0 refinancing program off the ground.
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Short Takes: Is PennyMac Really a Subsidiary of PNC? / 5 Percent Will be the Downpayment Threshold in the QRM Rule / Yet Another New Player in Mortgage Insurance / MIAC Selling MSRs

February 12, 2013
Paul Muolo
Is PennyMac Financial Services, which just filed for an IPO, really part of PNC?
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CFPB Warns Servicers on MSR Transfers, Nonbanks Targeted

February 12, 2013
Brandon Ivey
The CFPB has warned the mortgage banking industry that it should pay close attention to loss mitigation work when servicing rights are transferred.
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FHA Likely to Price Its Way to Lower Market Share

February 12, 2013
John Bancroft
FHA single-family production rose 22.3 percent in 2012, but another increase in the mortgage insurance premiums will likely accelerate the program’s three-year decline in market share.
Read More
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