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Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update

January 22, 2015
George Brooks, Brandon Ivey, and Paul Muolo
Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...
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Nonprime Lender Citadel Triples Production in 2014, May Do It Again

January 21, 2015
Paul Muolo
Roughly 5 percent of Citadel's production is retail with correspondent accounting for 7 percent. The balance entails table funding.
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Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire

January 21, 2015
Brandon Ivey and Paul Muolo
Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…
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Nationstar Closes on $8.5 Billion MSR Deal from ‘Top Four’ Servicer

January 21, 2015
Paul Muolo
Is Ocwen the seller of the MSRs?
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After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash

January 20, 2015
Paul Muolo
The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months.
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The Megabank Mortgage Roundup: 4Q Reveals Some Up, Some Down

January 19, 2015
John Bancroft
Two of the four, Chase and BofA, reported increased originations during the fourth quarter. At Chase, production was up 8.5 percent...
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Altisource Defends Ties to Ocwen, Cuts Staff; Stock Soars

January 16, 2015
Brandon Ivey
Altisource recently eliminated 800 employee positions and hundreds of contractors.
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Ocwen Full Steam Ahead on MBS Clean-up Calls and Ginnie Buyouts

January 16, 2015
Paul Muolo
A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.
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Lenders Preparing for a Refi Boom(let)? Looks That Way

January 16, 2015
Brandon Ivey
At press time, the yield on the 10-year Treasury was at 1.80 percent, the lowest level since May 2013.
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CFPB Looking for Legal Conflicts to Enter

January 16, 2015
Thomas Ressler
“The bureau welcomes and encourages suggestions of cases as candidates for amicus curiae participation,” said the letter, signed by Meredith Fuchs, general counsel of the CFPB.
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