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Originations
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Thanks to FTHBs, GSE High LTV Programs Begin to Catch Fire

December 20, 2017
Carisa Chappell
Bill Banfield, EVP of capital markets for Quicken, said he’s noticed an increase in the use of the conventional low-downpayment programs this year….
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Movement Mortgage Plans to Add 700-Plus Workers at its HQ Over the Next Five Years

December 20, 2017
Brandon Ivey
Movement was founded in 2008 and has grown from four employees to more than 4,300…
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Nation’s Third Largest Lender Quicken Sells $1B-Plus of Debt at an Attractive Yield

December 20, 2017
Paul Muolo
Meanwhile, Quicken owner Dan Gilbert recently broke ground on a new skyscraper in downtown Detroit, which will cost roughly $900 million.
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Loan Closings Delayed. The Culprit: A New IRS Authentication System

December 20, 2017
Paul Muolo
Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”
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Short Takes: Time for the GSEs to Sharpen Their Pencils / It’s Only $19 Billion / Citigroup’s DTA Exposure / Sierra Pacific Launches Builder Division / HUD Now Has a Confirmed General Counsel

December 20, 2017
Paul Muolo
Sierra Pacific Mortgage, Folsom, CA, is launching a new builder division...
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FHFA Keeps Close Eye on GSE Prepayment Speed Divergence

December 19, 2017
Carisa Chappell
The FHFA noted that divergence in prepayment rates could occur if the GSEs fail to align programs, policies, and practices…
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Wells Fargo Promotes Mary Mack to Head Consumer Lending, in Addition to Leading the Community Banking Division

December 19, 2017
Brandon Ivey
Mack, a senior executive vice president at Wells, has been at the bank for 33 years...
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What MBA Expects to See from GSE Reform: ‘De Novo’ Versions of Fannie and Freddie, Multiple Guarantors…

December 19, 2017
Paul Muolo
Initial capitalization rates for new secondary market guarantors may not be as steep as some might think…
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Democratic State AGs Bash CFPB’s Mulvaney, Threaten Aggressive Enforcement Action

December 19, 2017
Thomas Ressler
The state AGs expressed their concern over statements that Mulvaney has made about the role of the agency, particularly when he called it a “joke…”
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Short Takes: Money Source Sets its Sights on Being a $100B Servicer / RoundPoint Looks to Add Contracts / FHA Defaults Spike, Reason: Hurricanes / MIAC Selling Whole Loans / Ellington’s CFO Sets Retirement Date

December 19, 2017
Paul Muolo
Overall, The Money Source expects to hire more than 400 new team members in 2018...
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