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PHH CEO Robert Crowl Gets a New Contract, Could Earn $2 Million-Plus This Year

January 31, 2018
Paul Muolo
Over the past two years, PHH has sold off large chunks of its MSR portfolio, while remaining as the subservicer of record…
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Appeals Court Rules in PHH’s Favor in RESPA Dispute with the CFPB; However, CFPB's Constitutionality is Upheld

January 31, 2018
Thomas Ressler
The ruling is a huge win for the mortgage industry, said former CFPB attorney Benjamin Olson, now a partner at the Buckley Sandler law firm…
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Short Takes: Leaked DOJ Memo Directs Prosecutors to Dismiss Meritless FCA Cases / FCA by the Numbers / Joshua Rosner Weighs in on Corker Bill / Flushing GSE Money Down the Toilet? / Ally’s Mortgage Profit

January 31, 2018
George Brooks and Paul Muolo
DOJ notes that “over the last several years” there has been a record increase in qui tam (whistleblower) actions filed under the False Claims Act...
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More Lenders Contributing to Prime Jumbo MBS; Flagstar Becomes a Player

January 30, 2018
Brandon Ivey
Flagstar contributed $1.02 billion to jumbo MBS last year, or 9.4 percent of the total market…
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Wells Fargo Names Michael DeVito Permanent Head of Home Lending

January 30, 2018
Paul Muolo
DeVito will report to Mary Mack, senior executive vice president of community banking and consumer lending.
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Dever, Iannicola Latest Additions to Short List for CFPB Director. Or Maybe Jerry Buckley?

January 30, 2018
Thomas Ressler
“Jerry Buckley would fit the bill perfectly,” said one industry lobbyist...
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Industry Starts to Worry as Yield on the 10-Year Hits Yearly High; Insolvencies? PHH Falls to 52-Week Low

January 30, 2018
Paul Muolo
The only firms that are feeling overly bullish are nonprime shops such as Angel Oak and Citadel Servicing…
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Investors in Walter Get a Sweet Deal: a 9 Percent Note Rate

January 30, 2018
Paul Muolo
According to a new SEC filing, the unsecured notes previously matured in 2021 and carried a yield of 7.88 percent.
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Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

January 30, 2018
Carisa Chappell and Paul Muolo
Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...
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GSE Reform Draft (#29) Lays Out a New Mortgage Market with a Federal Guarantee but Private Capital; FHFA and Ginnie in Charge; Treasury Can’t Sell GSE Stock

January 30, 2018
Paul Muolo
Treasury would be barred from selling or disposing of “any senior preferred shares, any interest in the warrants, any common shares acquired upon the exercise of the warrants, or any other equity interest that were acquired pursuant to the Senior Preferred Stock Purchase Agreement.”
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