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Watt’s Accuser Sues FHFA, Wants $1 Million in Damages for Pay Discrimination

August 22, 2018
Paul Muolo
Grimes, in her complaint, is asking for a permanent injunction enjoining the FHFA from “paying female employees lower compensation than their male” counterparts for performing equal work…
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Short Takes: Celebrity in the Hunt / Ocwen Gets the ‘All Clear’ Signal from Ginnie / Oh Carol / The National Servicing Settlement – It’s a Wrap / Two Joes In Charge at Waterstone

August 22, 2018
Brandon Ivey and Paul Muolo
Celebrity Financial has several M&A irons in the fire...
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Cal Realtors Ask FHFA for Immediate Halt to GSE Financing of SFR

August 21, 2018
Paul Muolo
Certain SFR operators have been criticized for gobbling up thousands of properties for corporate ownership, thus removing these units from the inventory of homes available for sale.
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Short Takes: Broeksmit Takes Over as MBA Chief / His Resume / Cowen: Bright, a Plus for Housing / A Possible Successor to Watt at the FHFA? / Churchill Mortgage Executive Named to CMLA’s Board

August 21, 2018
Paul Muolo
Bright has been mentioned in housing and mortgage circles as a possible successor to FHFA Director Mel Watt.
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Watt’s Accuser Sues FHFA, Alleges Pay Discrimination, Wants $1 Million in Damages

August 21, 2018
Paul Muolo
When bonuses and benefits are factored in, Grimes says the pay disparity totals $100,000 per year...
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GSE Sellers Continued to Stretch the Credit Box (Incrementally) in 2Q18

August 20, 2018
John Bancroft
A year ago, just 12.1 percent of new purchase loans fell into the highest-risk category…
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FHFA Wants GSEs to Take a Closer Look at Their Multifamily Lenders

August 20, 2018
Carisa Chappell
The FHFA wants Fannie and Freddie to institute proper controls and perform monitoring on their multifamily counterparties…
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Short Takes: More Mortgage M&A / Check Those WARN Act Notices / Accuser Blasts FHFA Sexual Harassment Probe / No Comment from the FHFA

August 20, 2018
Paul Muolo
Grimes' resume also includes stints at Grant Thornton and Price Waterhouse Coopers...
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Declining Refis Take a Bite Out of Fannie/Freddie Business

August 20, 2018
John Bancroft
Most of the month-to-month slump was at Freddie, where MBS production fell 8.9 percent from June.
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Mayopoulos at Center of Recent IG Management Alert

August 17, 2018
A heavily redacted Federal Housing Finance Agency Inspector General management alert about credit scores, published in late July, involved Fannie Mae CEO Timothy Mayopoulos, sources confirm.The 15-page report only mentioned that a “senior executive” was involved in a conflict-of-interest administrative review pertaining to alternative credit scores. It said that the executive did not disclose “critical information” about potential conflicts of interest arising from a personal relationship. Based on the IG report, it seems that Mayopoulos did disclose and recuse himself from business decisions related to alternative credit scores. But the IG report appears to take issue with the fact that he did not “fully disclose” the information.
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