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A Slight Gain in Originations for U.S. Bank in 3Q18

October 17, 2018
Paul Muolo
Loan production increased at U.S. Bank but mortgage revenue declined…
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Short Takes: What Will Ben Carson Cut? / GSE DTI Ratios Too High? / A Woman May Head the FHFA / Nomura Settles with DOJ / Strong Earnings from MGIC / Needed: Some CFPB Guidance

October 17, 2018
Paul Muolo, Brandon Ivey, and Yemeng Yang
Budget cuts coming to HUD?
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MBA Panelists Express Grave Concerns about the Current Profit Picture

October 16, 2018
Paul Muolo
Ken Logan, managing director of warehouse finance for Wells Fargo Bank, noted that nonbanks need to know “not having cash matters.”
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Mulvaney Tells MBA: CFPB to Define ‘Abusive’ Under UDAAP; Regulation by Enforcement is Over

October 16, 2018
Yemeng Yang
CFPB chief Mick Mulvaney declared the regulation-by-enforcement approach done...
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MBS ‘Godfather’ Ranieri Agrees to Sell Servicing Company Selene

October 16, 2018
Paul Muolo
“It’s time to go,” said Ranieri...
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Short Takes: Trump’s Point Man on GSE Reform: Yank Fannie and Freddie’s Charters / New 52-Week Lows / Ginnie Issuer Gets its Ticket Pulled / Uncle Sam is Spending Too Much Money (Again) / A Name Change for Ocwen?

October 16, 2018
Paul Muolo
Meanwhile, there was chatter at the MBA convention that Ginnie Mae had just yanked the ticket of one of its MBS issuers.
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Incenter, Phoenix Capital Out with New MSR Auction Notices

October 14, 2018
Paul Muolo
IMA described the selling originator as an “independent mortgage banker with strong net worth...
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Short Takes: GSE Pilot Hearing Postponed / An Opportunity to Gather Intelligence? / Freddie's Qualification Tool for Self-Employed Borrowers / GSE Duty-to-Serve Updates / New Hires for ComplianceEase, Element Funding

October 14, 2018
Paul Muolo and Carisa Chappell
The Senate Banking Committee's review of GSE pilot programs will have to wait...
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Mortgage-Hungry Insurance Conglomerate Hits the Pause Button on M&A as Grand Jury Convenes

October 12, 2018
Paul Muolo
Eli Global’s mini-mortgage empire includes lender/servicer Castle & Cooke, wholesaler Western Bancorp, Prime Mortgage and a warehouse lending division called CapLoc…
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Wells Fargo Reports a Decline in Home Lending for 3Q18. A Small Gain at JPM

October 12, 2018
Paul Muolo
JPM and Wells do not use loan brokers, avoiding the wholesale channel. Both have large warehouse lending programs and acquire mortgages from the nonbanks they also finance.
Read More
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