Three Walter Board Members Give Notice, Annual Shareholders Meeting Looms April 5, 2017 Paul Muolo Employee turnover is becoming a trend at Walter. Two weeks ago, the company's chief legal officer Jonathan Pedersen resigned.Read More
Dodd-Frank Co-Author Accuses GOP of Hypocrisy, Defends the CFPB April 5, 2017 Thomas Ressler The media call with Barney Frank was sponsored by the Constitutional Accountability Center, which assisted scores of current and former Democrat members of Congress in filing an amicus brief in defense of the CFPB. Read More
Short Takes: Mortgage Interest Deduction Could be Neutered / Trump Getting Close on Pam Patenaude for HUD Deputy Post / DocMagic Posts Strong Growth / Chimera Busy with Seasoned MBS / Fannie Mae Official Leaves for Due Diligence Firm April 5, 2017 Brandon Ivey and Paul Muolo It appears the Trump White House is once again seriously considering Pam Patenaude to be the deputy HUD secretary...Read More
Flagstar Will Acquire ‘Certain’ Assets of $3-Billion-a-Year Lender Opes April 4, 2017 Paul Muolo With the purchase of Opes, Flagstar likely will move up two spots in the origination rankings to number 12, according to Inside Mortgage Finance.Read More
Origination of IO Mortgages Spiked by Almost 37 Percent in 2016 April 4, 2017 Brandon Ivey PHH Mortgage, which is restructuring its operations, was the top ranked interest-only lender in 2016…Read More
In its Latest PHH Filing, the CFPB Sticks to the Main Premise: the Bureau’s Structure is Constitutional April 4, 2017 Thomas Ressler The CFPB noted: “The bureau’s constitutionality has been challenged frequently, but has yet to be addressed by a court of appeals…”Read More
Fast-Growing Nonprime Lender Angel Oak Adds Four Executives, Aims to Double Sales Force April 4, 2017 Paul Muolo Angel Oak employs 52 wholesale account executives and hopes to add three to four additional ones a month.Read More
Coming May 1: FHA’s New Loan Review System (Defect Taxonomy) April 4, 2017 George Brooks The ultimate goal of the LRS is to reduce lenders’ liability risk and minimize overlays…Read More
Short Takes: Skyline Posts Strong Purchase Lending Numbers / Banks and CUs Pony Up to the IO Bar / Flagstar’s New Wealth Advisory Business / Thanks to AVMs and Google Earth, All Appraisers May be Toast / Frommeyer Leaves NAMB April 4, 2017 Paul Muolo A former Utah appraiser said she lost her job to AVMs and now drives a bus for $40,000 a year...Read More
Prime Non-Agency MBS Bounces Back in 1Q17 April 3, 2017 Brandon Ivey Just two firms – Redwood Trust and JPMorgan Chase – continued to dominate jumbo issuance in the first quarter…Read More
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