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Housing Advocates Worried about Sen. Corker’s GSE Reform Draft

February 12, 2018
Carisa Chappell
The Center for Responsible Lending and other groups said the Corker draft threatens access, affordability and market stability…
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Ocwen EVP of Lending Otto Kumbar Departs – and with a Nice Severance Package

February 12, 2018
Paul Muolo
Kumbar will be paid $1.25 million for leaving Ocwen, a package that also includes a relocation reimbursement…
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What We’re Hearing: America, a Good Mortgage Customer? / Higher Rates, but How Much Higher? / Mortgage Bulls / Three Former Clayton Executives Launch Due Diligence Firm / Santander’s Warehouse Chief Departs / Mel Watt’s Successor Might…

February 9, 2018
Paul Muolo
The new game in town is figuring out who will succeed Mel Watt as director of the Federal Housing Finance Agency...
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Agency MBS Production Down a Modest 6.9 Percent in January. Turbulence Ahead?

February 9, 2018
John Bancroft
January volume was the lowest monthly total since May 2017…
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FHFA OIG Takes Issue with Regulator’s Handling of Potential Conflicts Involving Fannie Mae Executives

February 9, 2018
Carisa Chappell
The names of Fannie Mae executives potentially involved in conflicts of interest were redacted from the report.
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PennyMac Financial Posts a $123.9 Million Profit in 4Q, Originations Down by 10.0 Percent; Lender Set to Launch New Products

February 9, 2018
Brandon Ivey
PennyMac originated $17.04 billion of home mortgages in the fourth quarter, largely through the correspondent channel
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House Green Lights Revision to Points and Fees Calculation

February 9, 2018
Thomas Ressler
House Financial Services Committee Chairman Jeb Hensarling said The Mortgage Choice Act is needed because the CFPB wrote a flawed and problematic definition that grossly miscalculates points and fees...
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More Ominous Signs for Walter/Ditech: CEO Tony Renzi Departs with No Successor Named

February 8, 2018
Walter Investment Management Corp. had hoped to emerge from bankruptcy protection by the end of January, but now has a new problem on its hands: no CEO and no guidance on when it might actually have one. At press time, the revised target date to emerge from bankruptcy was Feb. 9.
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Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt

February 8, 2018
Paul Muolo and Thomas Ressler
Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…
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Freedom Mortgage Buys $25 Billion of Servicing Rights from Stearns Lending

February 8, 2018
Paul Muolo
In the summer of 2015, The Blackstone Group bought a controlling interest in Stearns.
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