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Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

June 27, 2018
George Brooks, Carisa Chappell, and Paul Muolo
FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."
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Servicing Advisors Worry About the GSE Role in the ‘Flow’ MSR Market

June 26, 2018
Paul Muolo
Incenter Mortgage Advisors, Denver, is getting ready to launch a flow MSR marketplace of its own…
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Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official

June 26, 2018
Paul Muolo
Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…
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Phoenix Capital Selling $1.2B of GSE MSRs

June 25, 2018
Paul Muolo
The seller of the bulk package is a depository that lends heavily in the South…
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Short Takes: A Shift on GSE Thinking? / loanDepot Resumes / Job Cuts at Finance of America / Product Update from Arch / A New Mortgage Hire for BBVA

June 25, 2018
Paul Muolo
In early June, Finance of America filed a layoff notice on 43 workers in Roseville, CA.
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New York Judge Rules CFPB’s Structure Unconstitutional

June 22, 2018
Yemeng Yang
The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.
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What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech

June 22, 2018
Paul Muolo
One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”
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With Renewed Interest in Bulk Servicing Deals at Some Institutions, Bank Retreat Slowed in 1Q18

June 21, 2018
Depository institutions continued to pull back from the business of servicing home loans for other investors during the first quarter of 2018, but the rate of withdrawal appeared to slow, according to a new Inside Mortgage Finance ranking and analysis. [Includes two data charts.]
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Conservatives Rallying Against the CFPB Nominee?

June 21, 2018
Yemeng Yang
Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”
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The Bank Retreat from the MSR Market Begins to Slow

June 21, 2018
John Bancroft
Also, credit unions and thrifts both increased their MSR holdings...
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