Another Regulator Cashes In as Webster Bolts CFPB for Wells Fargo September 15, 2015 Thomas Ressler The trend continues: Work for the CFPB for a year or so and then cash out...Read More
Radian Launches Two Jumbo MI Offerings, Including Product for Medical Professionals September 15, 2015 Brandon Ivey It seems that more MI firms are sticking their toes into the jumbo waters...Read More
Ocwen Now Expects a Loss for 2015; More Layoffs Planned; Oh, and It Hopes to be a Top 10 Lender September 15, 2015 Paul Muolo According to figures compiled by Inside Mortgage Finance, Ocwen may have a long way to go in meeting its production dreams... Read More
HARP Refi Volume Just About Flat in 2Q15 September 15, 2015 John Bancroft Fannie Mae had a slight increase in HARP activity and accounted for 59.3 percent of the total for the two GSEs...Read More
Short Takes: Almost All GSE-Related Legislation is DoA / Don’t Kill the Golden Goose / Those Crazy Common Investors / The GSEs Are Worth $105 Billion? / Brian Webster’s Resume September 15, 2015 Paul Muolo In 2Q, the GSEs earned $8.8 billion combined. Multiply that by four (quarters) and then three (years) and you get $105.6 billion.Read More
Home Point Looks to Buy Servicing Rights, Add Another Retail Team September 14, 2015 Paul Muolo Recently, Home Point added a large retail lending team from Great Plains Bank and Newman promised that “we have another large retail team scheduled to come on in the next several weeks.”Read More
Looser Credit on the Way? Fannie Tweaks Self-Employment Verifications September 14, 2015 Carisa Chappell The set of changes was updated in the GSE’s selling guide and shows a new way that income from self-employment can be both calculated and documented.Read More
Nationstar Trademarks the Name ‘Mr. Cooper.’ But Why? September 14, 2015 Paul Muolo "Mr. Cooper" seems like an odd name for a mortgage company to trademark, but you never know...Read More
Short Takes: Skyline Aims to Reduce LO ‘Posses’ / The Coming Texas Housing Bust / Go With the Astros, Not the Cubs / MSR Deal From Prestwick / CRE Outlook From Auction.com / Ocwen, Not Made in America September 14, 2015 Paul Muolo Irony or good business?: Ocwen's mortgage customers are located in the U.S., but the back office staff processing their loans are mostly overseas.Read More
The Non-QM Market Has a Problem: Anxiety About Getting Sued September 11, 2015 Brandon Ivey It could be years before many lenders get comfortable offering non-QMs with significant default risk due to the litigation risk.Read More