Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS November 15, 2018 Brandon Ivey and Paul Muolo If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.Read More
Large Judgement Against Waterstone Mortgage in Limbo After Ruling by Appeals Court on Arbitration Issue November 15, 2018 Waterstone Mortgage has won temporary relief on the $10.6 million in damages it had been directed to pay to 175 loan originators as part of a class-action lawsuit involving employee compensation.Read More
1,400 Stakeholders Contacted as Part of GSE UMBS Conversion November 14, 2018 Paul Muolo Fannie and Freddie and their joint venture, Common Securitization Solutions, will implement the SSI and issue the first UMBS on June 3 of next year…Read More
Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title November 14, 2018 Paul Muolo and Yemeng Yang The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.Read More
CFPB Exams Continue Apace Despite the 'Mulvaney Effect’ November 13, 2018 Paul Muolo MBA’s Pete Mills noted that IMBs of all sizes from small to large are examined each year…Read More
KBW Raises Earnings Estimates on Fannie and Freddie, Questions CRTs November 13, 2018 Paul Muolo As of Sept. 30, Fannie and Freddie had some form of risking sharing on 38 percent to 42 of their guaranteed portfolios, respectively.Read More
Industry Calls for CFPB Rulemaking to Clarify the Role of Guidance November 13, 2018 Yemeng Yang Lenders continue to worry about examiners critiquing them on issues not based in law…Read More
Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official November 13, 2018 Paul Muolo Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.Read More
Odds of GSE Reform May Not Have Changed Much November 12, 2018 Paul Muolo Gone from the Senate, via retirement, is Sen. Bob Corker, R-TN, a moderate Republican who was a proponent of reforming the secondary mortgage market…Read More
Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending November 12, 2018 Paul Muolo United Wholesale Mortgage continues to hire...Read More