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Fitch: Consolidation Expected Among Nonbank Servicers. Rising Costs a Major Concern

March 14, 2018
Brandon Ivey
Fitch said independent nonbank servicers remain vulnerable to rising costs…
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IMA Hits the Market with a Large Bulk GSE Auction

March 14, 2018
Paul Muolo
The package from IMA boasts low delinquencies and a high percentage of loans based in California…
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Fresh Off of Restructuring Walter/Ditech, Renzi Joins the Nation’s Largest Subservicer

March 14, 2018
Paul Muolo
Earlier this year, Renzi stepped down as CEO and president of Walter Investment Management Corp., the parent of Ditech Financial...
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Impac Gets Slammed by Lower Originations, Trump Tax Bill; Long-Time CEO Joe Tomkinson is Departing

March 14, 2018
Paul Muolo
The company confirmed that long-time chairman and CEO Joe Tomkinson will be stepping down at the end of July...
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Ginnie Mulls Changes to MSR Pacts to Improve Nonbank Liquidity

March 13, 2018
George Brooks
Nonbanks do not have safety and soundness regulators, which is causing anxiety inside the agency…
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Short Takes: Impac, the Day Before the ‘Ides of March’ / A Boost for Ditech? / Market Cap? / CFPB Cedes Power to the States / A Promotion at NTC

March 13, 2018
Paul Muolo and Yemeng Yang
Under Acting Director Mick Mulvaney, the CFPB will rely on state regulators and state attorneys general for more leadership when it comes to enforcement...
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M&A Market Heats Up; Skyline Entertaining Takeover Talks?

March 12, 2018
Paul Muolo
Consultant Dave Lykken: “There are some firms out there that are just flat out of cash. They just didn’t get ahead of this thing.”
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Mortgage Brokers Add Jobs, Bankers Don’t; JPM, Quicken, Others are Hiring

March 12, 2018
Paul Muolo
Quicken Loans continues to hire technology-related workers…
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Short Takes: Amazon Wants to Enter the Mortgage Industry (Good Luck with That) / Who is Nick Clemente? / Risk and the GSEs / Essent’s Risk-Sharing Deal / A New Hire for Recovco

March 12, 2018
Brandon Ivey and Paul Muolo
From what we understand, the Amazon executive spearheading the effort is Nick Clemente...
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Carson Denies Removal of Fair Housing, Inclusiveness Language

March 9, 2018
Realtors and fair-lending advocates are outraged over reports that Housing and Urban Development Secretary Ben Carson has ordered the removal of language ensuring “inclusiveness and discrimination-free communities” from the department’s mission statement. A spokesperson for HUD denied the report, blaming it on faulty reporting by the Huffington Post on March 6. Carson later followed up with his own denial in an open letter to HUD employees, which the department made public. The initial press report cited a March 5 memo written by Amy Thompson, assistant secretary for public affairs, and addressed to HUD political staff. In the memo, Thompson talked about ongoing efforts to update the mission statement to align HUD’s mission with the Trump administration’s priorities. She added that Carson helped in the development of the new statement as well as urged senior staff to ...
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