Hisey, a former Fannie Mae executive, has been given the title of chief strategy and external affairs officer, a newly created position at the nonbank lender/servicer.

One mortgage technology expert had this to say on the Ellie Mae shutdown: “This is going to get ugly. Real money is lost when you can’t close loans on time.”

One source familiar with Ellie Mae told IMFnews that the technology provider has a long list of potential acquisitions.

One executive, requesting his name not be used, said, “It completely wrecked our last day of the month. We were unable to sending closing packages, send disclosures, export files and such.”

Whatever happened to the sale of Cole Taylor Mortgage, which has been in the works for nine months or so? Good question. When we asked one source close to the deal, his response was this: “Think of the Energizer Bunny but with fairly old batteries.

Fannie Mae this week released its STAR servicer rankings and hopefully a copy found its way to all those pesky regulators who think nonbank servicers can’t tell the difference between a debit and a credit.

W.J. Bradley Mortgage Capital announced a number of new jumbo mortgage products this week. Among the offerings is a loan with a 10 percent downpayment requirement for balances of up to $850,000.

Translation into English: If you bought Ocwen’s stock at $60 and it’s now trading at $40 and you’re really steamed, give us a call.

The effort to develop a common mortgage-backed security platform has a budget estimated at up to $300 million, funded by Fannie Mae and Freddie Mac, but the GSEs’ conservator is saying little about its progress. In the nearly six months since the FHFA filed articles of incorporation for the entity creating the common securitization platform, the agency remains silent on key issues related to the project, including the size of its operating budget.

In the last couple of years, the wholesale origination channel has been a revolving door for industry players, with some exiting for various reasons and new ones coming in to take up the slack. Those currently in the game expect the instability will continue for some time. Wholesalers say the decision to exit the business or enter at one’s own peril boils down to perception: Is the glass half empty or half full? Brian Benjamin, a mortgage broker and president/CEO of Two River Mortgages ...