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House Financial Services Panel Passes Hensarling’s CHOICE Act

May 4, 2017
Thomas Ressler
Democrats unsuccessfully pushed amendments that would try to keep President Trump, anyone in his administration or any of his businesses from benefitting from any provision in H.R. 10.
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Nonbanks Continue Assault on MSR Market; New Residential Emerges as a Major Player

May 4, 2017
John Bancroft
In no time at all, New Residential has become the nation’s sixth largest owner of residential servicing contracts.
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Short Takes: At Impac, a Nice Paycheck for Two Executives / Some History / A Strong Comeback / Invitation Completes Fannie Mae Deal / RedVision Hires Altisource Exec

May 4, 2017
Paul Muolo
The two top executives at Impac Mortgage Holdings took home a combined $13.22 million in pay last year...
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Mortgage Execs at Public Firms Got Big Paychecks in 2016 that Didn’t Always Match Results

May 3, 2017
Paul Muolo
Denmar Dixon, who stepped down as CEO of Walter Investment Management Corp. last year, received $6.62 million in total compensation for 2016 while the company posted a net loss of $529 million.
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Ocwen Reports a $32.6 Million Loss for 1Q17. State Sanction Tally Rises to 31

May 3, 2017
Paul Muolo
Ocwen’s management noted there is no guaranty the deal with New Residential will actually close.
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Mortgage Advisory Firm Collingwood Group Acquired by Global Player Situs

May 3, 2017
Brandon Ivey
Collingwood was founded in 2009 by industry veterans Brian O’Reilly, Brian Montgomery and Tim Rood.
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Procedural Move by Dems Slows Markup of Financial CHOICE Act

May 3, 2017
Thomas Ressler
During debate on H.R. 10, the Democrats used a procedural maneuver to force a reading of a large portion of the bill’s text…
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Bank of America Retaining More GSE-Eligible Mortgages

May 3, 2017
Brandon Ivey
Bank of America is retaining more of its GSE-eligible loans, though the strategy can result in short-term decreases to mortgage-banking income.
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Short Takes: Mnuchin to the GSEs: Keep Those Checks Coming / Speculation on a Payment Change / Ocwen Makes Some Headway / 735,000 Loan Mods and Counting / First Mr. Cooper, Now Morty

May 3, 2017
Brandon Ivey and Paul Muolo
Perhaps the new Treasury secretary finally looked at the numbers, realizing that Fannie and Freddie – wards of the government since September 2008 – forked over roughly $20 billion to Uncle Sam…
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Impact Unclear in Miami-Predatory Lending Supreme Court Case

May 2, 2017
Brandon Ivey
Some analysts believe the Supreme Court’s ruling will result in the filing of new claims, but the Buckley Sandler law firm sees it differently...
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