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... Read More
Short Takes: The First Mortgage M&A Deal of the Year? / Mnuchin is Aware of the IRS Tax Transcript Problem / Will Government Workers Miss a Mortgage Payment? / Happy New Year from President Trump: Your Pay is Frozen / Tom Selleck Keeps Pitching HECMs / Ce January 3, 2019 Paul Muolo Celink, a servicer of reverse mortgages, has agreed to pay the federal government $4.25 million for violating the False Claims Act...Read More
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…Read More
Short Takes: A Government Shutdown-Related Reminder from Fannie Mae / A Fundraising Record for MBA’s MORPAC / Rising Worries, Falling Rates / Nervous / AI Gets a New (Annual) President January 2, 2019 Brandon Ivey and Paul Muolo At press time, the yield on the benchmark 10-year Treasury was at 2.67 percent, the lowest reading in almost 12 months…Read More
Analysts Positive on VA’s Interim Rule on Cash-Out Refis, but… December 31, 2018 George Brooks The rule creates two types of cash-out refinances…Read More
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.”Read More
FEMA Reverses Course on Decision to Halt New Flood Policies December 31, 2018 Brandon Ivey and Paul Muolo The NAR called FEMA’s about-face a “critical win.”Read More
GSE Credit Scoring Models: The Future is Unwritten December 31, 2018 Dennis Hollier Fannie and Freddie tossed out the idea of creating their own internal models as impractical...Read More
Short Takes: Worrying About the IRS / NRMLA Talking to Members about the HECM Situation / Most Underwriting Can Continue / Mnuchin’s Future / OCC Hires SBC Attorney December 31, 2018 Paul Muolo Capital Alpha Partners: “Mnuchin’s job is in danger the same as any cabinet member under Trump...." Read More
Employee Satisfaction at the CFPB Plunges December 31, 2018 Yemeng Yang A CFPB spokesperson said that 2018 was, no doubt, “a tumultuous year of great change.”Read More
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