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Short Takes: Lab Test Says GSEs Might Need $157B. What? / GOP Congressman Wants GSE Profits Used to Pay Down the Debt / CFPB Slams Title Firm Executives / CFPB Attorney Leaves for the Private Sector

April 30, 2015
Paul Muolo, Thomas Ressler, and Carisa Chappell
But not to worry: the FHFA said the projections were mandated under the Dodd-Frank Act, cautioning that its estimate is just that, and not an expected outcome….
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Wall Street Firm Eyeing Multiple Lenders; Former Lehman Exec to Manage Fledgling Mortgage Operation

April 30, 2015
The Blackstone Group is on the hunt to buy mortgage companies, including both lenders and servicers, according to industry advisors and others who have been briefed on the company’s plans. Blackstone, without disclosure, recently purchased Gateway Funding in Horsham, PA, and is in negotiations to buy PMAC Lending Services, sources contend. It also is talking to a company that goes by the name of Pinnacle, though there are several firms with that name, and at press time it was unclear which one. Observers describe...
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Freddie Unveils Yet Another NPL Auction: $233 Million of Product Serviced by Ocwen

April 29, 2015
Carisa Chappell
This is Freddie Mac’s fourth NPL auction of 2015. As for Fannie Mae...
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GSE Servicing Stagnant in 2015, but Nonbanks Gained

April 29, 2015
John Bancroft
Among the standouts in nonbank MSR growth: Seneca Mortgage, Pingora and RoundPoint...
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Treasury Criticized for Not Changing Policies Regarding HAMP Servicing Transfers

April 29, 2015
Brandon Ivey
Among other issues, the SIGTARP cited Green Tree's recent $63 million servicing settlement with the CFPB and Federal Trade Commission.
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Blackstone Hires Former Lehman MGD Libman to Head Mortgage Unit

April 29, 2015
Paul Muolo
Blackstone, without fanfare, purchased Gateway Funding in Horsham, PA. More deals are in the works...
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Short Takes: Dead Silence on GSE Reform / EverBank Dumps More MSRs / Brian Libman’s Work History / The Ocwen Watch

April 29, 2015
Paul Muolo and Thomas Ressler
Nationstar will take title to $6.7 billion of Fannie Mae, Freddie Mac and private investor product owned by EverBank...
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Residential Production Rises Almost 10 Percent at Flagstar; Nice Gain-on-Sale Improvement

April 28, 2015
Paul Muolo
More than half of Flagstar's servicing portfolio consists of subservicing contracts.
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Mortgage Earnings at Home Street Rise Sharply, Expansion Continues

April 28, 2015
Brandon Ivey
HomeStreet funded $1.61 billion of new originations in the first quarter of 2015, a 21 percent improvement from the previous quarter.
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Short Takes: Strong Demand for Mortgage Chief Operating Officers? / Lenders Without Budgets are Less Profitable / Ocwen Turned Down a Good Bid / A CEMA Tale and BofA

April 28, 2015
Paul Muolo
Recruiter Rick Glass said the thirst to hire high-caliber mortgage COOs is coming from lenders that “want to move to the next level.”
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