Government Shutdown has Little Effect on FHA/VA Loan Programs (So Far) January 4, 2019 George Brooks No disasters have been reported yet, but some lenders are beginning to worry...Read More
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
A Not-So-Pretty 4Q18 for GSE MBS Issuance January 3, 2019 John Bancroft Fannie and Freddie continued to see a slippage in the purchase market…Read More
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. Read More
MIAC Closes $8 Billion MSR Sale. Several Auctions in the Works January 3, 2019 Paul Muolo Several brokerage firms are working on MSR transactions…Read More
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.”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
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.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
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