Citing FHA Premium Cut, Freedom Mortgage May Hire 500 January 20, 2015 Paul Muolo The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.Read More
Fannie Mae’s New Appraisal Product Causing Anxiety January 20, 2015 George Brooks Fannie's "Collateral Underwriter" will provide up to 20 comparables and appraisers will have to defend the comps they use...Read More
FHFA PMIER Rule Could be Accompanied by LLPA Announcement January 20, 2015 Paul Muolo “It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official. Read More
After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash January 20, 2015 Paul Muolo The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months. Read More
Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella January 20, 2015 Paul Muolo Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...Read More
The Megabank Mortgage Roundup: 4Q Reveals Some Up, Some Down January 19, 2015 John Bancroft Two of the four, Chase and BofA, reported increased originations during the fourth quarter. At Chase, production was up 8.5 percent...Read More
Altisource Defends Ties to Ocwen, Cuts Staff; Stock Soars January 16, 2015 Brandon Ivey Altisource recently eliminated 800 employee positions and hundreds of contractors. Read More
Ocwen Full Steam Ahead on MBS Clean-up Calls and Ginnie Buyouts January 16, 2015 Paul Muolo A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.Read More
Lenders Preparing for a Refi Boom(let)? Looks That Way January 16, 2015 Brandon Ivey At press time, the yield on the 10-year Treasury was at 1.80 percent, the lowest level since May 2013.Read More
CFPB Looking for Legal Conflicts to Enter January 16, 2015 Thomas Ressler “The bureau welcomes and encourages suggestions of cases as candidates for amicus curiae participation,” said the letter, signed by Meredith Fuchs, general counsel of the CFPB. Read More