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BB&T Quietly Cuts Mortgage Staff Including Correspondent Manager

January 8, 2019
Paul Muolo
The RIFs at BB&T started in December and more are expected...
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TMS Exiting Retail and Wholesale Channels, Will Focus on Servicing, Correspondent Acquisitions

January 8, 2019
Paul Muolo
AmeriSave said it wants to scale its origination business…
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loanDepot Hires Caliber Executive John Bianchi to Head National Sales

January 7, 2019
Paul Muolo
loanDepot founder and CEO Anthony Hsieh: “We believe in distributed retail…”
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CMG Mortgage Expands in the Northeast, Assumes 14 RPM Branches

January 7, 2019
Paul Muolo
RPM CEO Rob Hirt was good-natured about the departures: “I wish CMG continued success into 2019…”
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What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director

January 4, 2019
Paul Muolo
One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus...
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Stratmor Sees a Strong Year for Mortgage M&A. However…

January 3, 2019
Brandon Ivey
However, Steve Harris, president of MIAC Capital Markets, said he sees a weak market when it comes to “franchise” deals.
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A Very Ugly Application Reading for the Week Ending Dec. 28. Surprise?

January 3, 2019
Paul Muolo
Brian Benjamin of Two Rivers Mortgage & Investment in Red Bank, NJ, noted that since the bond market rally in late December, “I’ve seen a pickup in calls, but refis are still dead.”
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PennyMac Financial Cuts New Employment Deals with Top Officers

January 2, 2019
Paul Muolo
Kurland was given an annual base salary of $900,000 from Jan. 1 of this year until Dec. 31, plus cash and equity incentives.
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Loan Officer OT Pay Case Sent Back to Lower Court, Dealing a Blow to LOs

January 2, 2019
Brandon Ivey
According to the ruling by the appeals court, Citizens pays its LOs $11.50 an hour along with commissions based on volume…
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Industry Concerned About Shutdown and Effect on IRS Verifications, MBA Asks Treasury to Step In

December 31, 2018
Paul Muolo
MBA CEO Bob Broeksmit: “We have made our concerns known to Treasury and request that IRS employees performing this vital work be deemed essential so loan closings can continue without further interruption.”
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