Lenders With Less Than $8 Million in Capital May Need to Sell August 21, 2014 Paul Muolo Franchise deals – where stock and licenses change hands – could dominate the M&A market for the remainder of the year.Read More
Short Takes: Manny Friedman Bullish on PennyMac / The Ocwen Mystery: Why All the Spinoffs? / Reverse Loan Officers Clean Up / CTM Has a New Parent / LenderLive Names New Servicing Executive August 21, 2014 Paul Muolo The average loan officer makes a $4,000 commission on each reach reverse mortgage they originate. Really?Read More
$7 Billion-Plus in MSRs Up for Grabs Through Three Auctions August 20, 2014 Paul Muolo Servicing advisors told IMFnews that many of the bulk deals they have been seeing of late are $4 billion in size or under.Read More
Compliance Vendor Warns CFPB’s HMDA Proposal Could be the Death Knell for Mortgage Lending August 20, 2014 Brandon Ivey “I’m wondering how many people buy homes outside of buying them with cash,” Ryan said during the webinar. “To me it’s that serious.”Read More
Pacific Union Hires Former Resolutions Chief at JPMorgan, Lending Executive From Wells August 20, 2014 Paul Muolo During his career, Dunnery was also a director within Fannie Mae’s national servicing organization.Read More
GSE Shareholder Group Gets Face Time with FHFA’s Watt, But… August 20, 2014 Charles Wisniowski Investors Unite now boasts almost 1,000 members, which include both common and preferred stakeholders in Fannie Mae and Freddie Mac.Read More
More Regulatory Scrutiny Tied to Mortgage Servicing Transfers (Sales) August 20, 2014 Paul Muolo An agency spokesman told IMFnews that as a “general matter” the CFPB considers transfers significant if they involve at least 5,000 loans.Read More
Short Takes: Former Subprime CEO Continues On / Privlo Definitely Did Not Raise $350 Million / Comerica Seeks Warehouse Manager for LA / More Regulations Coming from the CFPB? / A Sea Change in Fannie Underwriting Guidelines? August 20, 2014 Paul Muolo A big deal or ho-hum: Fannie Mae in late July said it will allow for shorter waiting periods involving mortgage debt charge-off accounts and mortgage debt that is discharged through a bankruptcy. Read More
SEC Subpoenas Ocwen Regarding Business with Related Companies August 19, 2014 Brandon Ivey Ocwen received a subpoena from the Securities and Exchange Commission and another subpoena from the SEC appears to be on the way.Read More
Nationstar Mortgage Cuts 160 Servicing Workers in ‘Performing’ Unit August 15, 2014 Paul Muolo Over the past year, several top ranked depository lender/servicers have cut staff, but there has been less bloodletting at the nonbanks.Read More