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Senate Banking Committee Approves Kathy Kraninger to be the Next CFPB Director

August 23, 2018
Yemeng Yang
The Senate Committee on Banking, Housing, and Urban Affairs Thursday morning approved Kathy Kraninger’s nomination to become the head of the Consumer Financial Protection Bureau in a party-line 13-12 vote. The Senate Majority Leader Mitch McConnell will have to assign floor time to advance the CFPB nomination...
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Correspondent Market Cooling in 2018 As Retail Share Grew in Second Quarter

August 23, 2018
John Bancroft
The residential mortgage market took an unusual turn in the second quarter as retail production gained ground under conditions that generally favor third-party channels...
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MISMO Creates Groups to Tackle Emerging Technologies, Third-Party Risk Management

August 23, 2018
The Mortgage Industry Standards Maintenance Organization is forming a new group to identify emerging technologies such as blockchain and digital mortgage that could impact the industry.
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Kraninger’s CFPB Could be a Positive for the Industry if Her Nomination Clears Full Senate

August 23, 2018
The Senate Committee on Banking, Housing, and Urban Affairs Thursday morning approved the nomination of Kathy Kraninger to become chief of the Consumer Financial Protection Bureau.
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More Lenders and Aggregators Starting to See Non-QMs And Other Expanded-Credit Products as a Viable Option

August 23, 2018
With refinance business drying up, more lenders and loan aggregators are entering the expanded-credit market, launching non-qualified mortgage programs and other products.
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More M&A Activity: Celebrity Financial Racks Up Two Nonbanks and is in the Hunt for More

August 23, 2018
Celebrity Financial, launched earlier this year by industry veteran David Robnett, has closed on its purchase of Midwest Equity Mortgage – its second mortgage deal of the year – but it is far from done as a buyer.
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Quicken Loses Large Broker Partner, Blames BRAWL, UWM and Its CEO

August 23, 2018
Quicken Loans this month lost one of its biggest broker-partners, C2 Financial Corp., laying the blame on BRAWL, United Wholesale Mortgage and UWM’s CEO Mat Ishbia.
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Short Takes: Celebrity in the Hunt / Ocwen Gets the ‘All Clear’ Signal from Ginnie / Oh Carol / The National Servicing Settlement – It’s a Wrap / Two Joes In Charge at Waterstone

August 22, 2018
Paul Muolo and Brandon Ivey
Celebrity Financial has several M&A irons in the fire...
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Great Ajax Looks to Increase Servicing for Others with Expansion of Gregory Funding Unit

August 22, 2018
Brandon Ivey
Gregory Funding is in the first year of a three-year expansion plan…
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California Remains a Rich Market for Loan Officers

August 22, 2018
John Bancroft
Overall, California has 99,781 licensed and registered mortgage LOs, far more than any other state…
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