Bank of America Confirms Job Cuts in Its LandSafe Unit March 13, 2013 Paul Muolo A declining inventory of problem home mortgages and REO played a key role in Bank of America slashing the workforce of LandSafe by roughly 10 percent.Read More
Short Takes: A New FHFA Director to Be Unveiled Soon? / Nonbanks and Jumbos? / Rep. Ryan Plan to Kill the GSEs DOA / Apps Take A Tumble / Sen. Elizabeth Warren, Silent but Not for Long March 13, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski Will the White House soon unveil its FHFA director candidate? Read More
Fannie Working on Changes to Buyback Policies March 12, 2013 Paul Muolo Fannie Mae is working on changes that may give some mortgage bankers relief on buybacks. Read More
Warehouse Lenders Saw Commitments Jump in 2012 March 12, 2013 Paul Muolo When residential originations thrive, so does the warehouse lending sector, and 2012 was no exception.Read More
GOP Voices Concern on CFPB Contract Expenses, No Vote on Cordray This Week March 12, 2013 Thomas Ressler The GOP wants to know why the CFPB has spent so much money on outside contractors.Read More
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? Read More
Allonhill CEO Diana Mead Departs Due Diligence Vendor March 11, 2013 Paul Muolo Due diligence provider Allonhill LLC loses its CEO Diana Mead.Read More
CFPB Probing Allys 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.Read More
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.Read More
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 Fannies 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. Read More