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Former Clayton Chief Joe D’Urso Lands at Pretium Partners

September 21, 2016
Paul Muolo
Founded by former Goldman Sachs executive Donald Mullen, Pretium Partners bills itself as a specialized investment management firm with roughly $6.5 billion of assets under management.
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Judge Orders Govt. to Produce More GSE-Related Docs, Shows Signs of Frustration

September 21, 2016
Carisa Chappell
Margaret Sweeny, the judge presiding over the case, is growing increasingly frustrated with the government’s attempt to keep documents out of the public domain
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MountainView, Prestwick Roll Out New MSR Auctions

September 20, 2016
Paul Muolo
As rates increase, more deals are hitting the market...
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Short Takes: The Wells Fargo Senate Barbeque / The Scandal’s Effect on Wells’ Mortgage Business? / Hats Off to the Los Angeles Times / Sen. Warren Slams Stumpf / Jumbo Update

September 20, 2016
Brandon Ivey and Paul Muolo
Will a potential residential mortgage customer bolt Wells Fargo because they can’t trust the bank’s employees, including its retail loan officers?
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Ginnie Chief Tozer Lays it on the Line About MSR Values, Liquidity

September 19, 2016
Paul Muolo
Senior Vice President of Issuer and Portfolio Management Michael Drayne said recently the revised acknowledgement agreement could be ready by the end of September.
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Credit Unions Voice Concerns over GSE CSP Project. A Level Playing Field?

September 19, 2016
Carisa Chappell
NAFCU wants the FHFA to preserve existing Fannie and Freddie securities so they don’t become unmarketable after the launch…
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Phoenix Flow Deal Could Yield $3 Billion in Product

September 19, 2016
Paul Muolo
The identity of the seller was not revealed in the offering circular except to say the company is “well capitalized.”
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Short Takes: Ocwen Executive Bolts for Flagstar / Number Seven with Hopes to Go Higher / RPM Mortgage Launches Second Lien Product / Will More Nonbanks Offer Seconds? / Time for a Background Check on Your Branch Manager?

September 19, 2016
Brandon Ivey and Paul Muolo
We know of at least one nonprime lender offering seconds and we expect that in time others may follow…
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Hensarling Bill Also Would Make Revisions to CFPB Mortgage Rules

September 19, 2016
H.R. 5983, the Financial CHOICE (Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs) Act by Rep. Jeb Hensarling, R-TX, chairman of the House Financial Services Committee, has incorporated the provisions of a number of bills that have either already passed the committee or the full House of Representatives and that would affect ...
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CFPB Provides Guidance to CSBS on its Mortgage Rules

September 19, 2016
The CFPB recently provided some written guidance on its mortgage rules to the Conference of State Bank Supervisors. The guidance, in the form of a letter, highlights some of the important changes to the mortgage rules that likely apply to many of the small lenders that CSBS members supervise. The letter, a copy of which was obtained by Inside the CFPB, came in response to a meeting this spring between Texas Department of Banking Commissioner and CSBS Chairman Charles Cooper, members of the ...
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