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….Read More
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…Read More
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.Read More
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.”Read More
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...Read More
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…Read More
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...Read More
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…Read More
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…”Read More
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...Read More