Another Regulator Cashes In as Webster Bolts CFPB for Wells Fargo September 15, 2015 Thomas Ressler The trend continues: Work for the CFPB for a year or so and then cash out...Read More
Ocwen Now Expects a Loss for 2015, Unveils Cost Cuts; Oh, and It Hopes to be a Top 10 Lender September 15, 2015 Paul Muolo Ocwen blames the anticipated loss on lower revenue and higher operating expenses.Read More
Nationstar Trademarks the Name ‘Mr. Cooper.’ But Why? September 14, 2015 Paul Muolo "Mr. Cooper" seems like an odd name for a mortgage company to trademark, but you never know...Read More
SIFMA Presses FHFA to Align GSE MBS Programs and Set a Timetable September 14, 2015 John Bancroft SIFMA argues that the FHFA has to take a more active role in keeping GSE programs aligned so that differences in prepayment speeds do not emerge.Read More
Short Takes: Skyline Aims to Reduce LO ‘Posses’ / The Coming Texas Housing Bust / Go With the Astros, Not the Cubs / MSR Deal From Prestwick / CRE Outlook From Auction.com / Ocwen, Not Made in America September 14, 2015 Paul Muolo Irony or good business?: Ocwen's mortgage customers are located in the U.S., but the back office staff processing their loans are mostly overseas.Read More
Looser Credit on the Way? Fannie Tweaks Self-Employment Verifications September 14, 2015 Carisa Chappell The set of changes was updated in the GSE’s selling guide and shows a new way that income from self-employment can be both calculated and documented.Read More
And the Beat Goes On: Banks Continue to Shed Servicing Rights September 14, 2015 John Bancroft Two companies – Wells Fargo and Bank of America – accounted for virtually all of the decline in bank MSR holdings during the second quarter.Read More
Home Point Looks to Buy Servicing Rights, Add Another Retail Team September 14, 2015 Paul Muolo Recently, Home Point added a large retail lending team from Great Plains Bank and Newman promised that “we have another large retail team scheduled to come on in the next several weeks.”Read More
What We’re Hearing: A Couple of Mortgage IPOs on the Way? / Profits are Still Good / $2B To Invest? / Heading for the Exits Because of the CFPB? / Lenders One Zeroes in on CEO Candidate / About Those GSE Pay Raises… September 11, 2015 Paul Muolo Regulatory fears are driving the desire by some owners/CEOs to exit the mortgage business, but we’ve heard that refrain before. Read More
Concern Over Gain-on-Sale Margins Heats Up as Volumes Begin to Drop September 11, 2015 Paul Muolo As one jumbo securitization officialtold Inside MBS & ABS: “Gain-on-sale margins have been okay, but no one is buying a new boat.”Read More