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Originations
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Trump White House Working on a ‘Short List’ to Replace FHFA Director Mel Watt?

February 1, 2018
Paul Muolo
Calabria is a former director of financial regulation studies at the Cato Institute, a conservative think tank that would like to do away Fannie and Freddie…
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Short Takes: Mortgage Trouble at SoFi / Thin Margins / Ex-Fannie Mae Worker Indicted / Mortgage M&A in New England / A New Hire for Bay Equity Home Loans

February 1, 2018
Paul Muolo
One executive familiar with SoFi’s residential business said the company is operating on razor thin profit margins…
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Despite Anticipated Production Downturn, Mortgage Firms Pay Top Dollar for LOs

February 1, 2018
Even though residential originations could fall by as much as 20 percent this year, lenders are continuing to pay top dollar for high-producing loan officers, in what some call a “pricing war.”
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Corker’s GSE Bill Raises a Host of Questions. Five or Six MBS Guarantors Need to be Up and Running For it to Work

January 31, 2018
Paul Muolo
The FHFA would be tasked with maximizing profits on any asset sales by Fannie and Freddie, according to the Corker bill…
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Widespread Support for HFSC Portfolio QM Bill

January 31, 2018
Brandon Ivey
However, at the markup, the bill was amended to limit the types of mortgages that will receive QM status.
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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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