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LenderLive Pondering a Sale? Or Something Else?

July 5, 2018
Paul Muolo
In July 2017, the vendor named Rob Clements chairman and CEO and John Surface president and chief operating officer. Both came over from EverBank Financial…
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Fannie Mae Servicer Seterus the Foreclosure King of California?

July 5, 2018
Paul Muolo
Seterus is owned by IBM, but the vendor doesn’t even mention the ownership link to ‘Big Blue’ in the “About Us” section of its website…
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HomeStreet to Sell 20 Percent of its MSR Portfolio to Matrix Financial Services

July 3, 2018
Brandon Ivey
HomeStreet continues to deemphasize its role in residential mortgages…
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Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal

July 3, 2018
Brandon Ivey and Paul Muolo
TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.”
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Banks Boost First-Lien Holdings in 1Q18 but a Slight Drop at Wells Fargo

July 2, 2018
Brandon Ivey
The three largest holders of first-liens are Wells Fargo, JPMorgan Chase and Bank of America…
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A Deal-Hungry Stearns to Acquire an Equity Stake in Certainty Home Loans

July 2, 2018
Brandon Ivey
According to sources familiar with the matter, Stearns is looking at other acquisitions as well...
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I’ve Just Seen the Future of Mortgage Banking and its Name is Amazon

July 2, 2018
Paul Muolo
Two years ago, loanDepot scuttled a much talked about initial public offering of stock...
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Short Takes: Lending Tree Comes Back Down to Earth / If Mortgage Rates Hit 5 Percent… / WMIH and Nationstar Shareholders Approve / NJ Mortgage CEO and Founder Resigns / Executive Bolts Stewart for WFG

July 2, 2018
Brandon Ivey and Paul Muolo
LendingTree founder and CEO Douglas Lebda took home total compensation of $59.6 million last year...
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Another Job for CFPB’s Mulvaney? Kraninger’s Confirmation Hearing Set for July 19

June 29, 2018
Yemeng Yang
“It’ll be more chaos if the president has to appoint another acting director," said one former CFPB official.
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Ginnie Mae Unveils Plan for Digital Mortgages; E-Loans on the Horizon

June 29, 2018
Ginnie Mae will be working with FHA, VA and the U.S. Department of Agriculture to standardize origination policies and requirements for digital mortgages as it moves into the digital age of its secondary market business. Ginnie will coordinate with the agencies while developing technical standards for electronic closings, digital mortgage instruments and electronic vaults. All this work is part of the agency’s three-year strategy, Ginnie Mae 2020, to modernize its mortgage-backed securities program and platform, strengthen its counterparty risk management capability, and explore new ways to lower or eliminate risk from the system. As part of the modernization effort, Ginnie envisions a process that would allow it to accept digital promissory notes and other digitized loan files as eligible collateral for its MBS. It would encompass loan application through securitization. The plan calls for gradual implementation of ...
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