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Some Lenders (Like Movement Mortgage) Keep Hiring; Others are Cautious

June 23, 2017
Paul Muolo
Quicken, the nation’s third-largest home loan originator – and number two in retail – is continuing to add positions in “all areas of the business,” said a company official.
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What We’re Hearing: New Rez CEO Not Worried About Ocwen / $425 Million / The CFPB has Been Defanged? / Falling in Love with Nonprime / The GSE Hearings Commence / Sen. Mark Warner’s Constituents (Freddie Employees)

June 23, 2017
Paul Muolo
We can only assume Sen. Warner knows Freddie Mac is headquartered in his state, which means the company’s employees are his constituents.
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Angel Oak Affiliate Prepares its Second Nonprime MBS of the Year

June 22, 2017
Brandon Ivey
The Atlanta-based Angel Oak hopes to double its sales force this year.
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loanDepot Hires Former Subprime Executive Flanagan to Lead Effort in ‘Proprietary’ Products

June 22, 2017
Paul Muolo
Flanagan once headed Cove Financial, which offered a unique rent-to-own product.
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Ocwen-New Residential MSR Deal Dragging On. Why?

June 22, 2017
Paul Muolo
One possible snag is the Consumer Financial Protection Bureau.
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Industry Veteran Mark Filler Racks Up $1 Billion from Investors, Has Plans for F&F, Broker Lending and More

June 22, 2017
Mark Filler, who departed “fix and flip” lender Finance of America Commercial early this spring, said he has amassed $1 billion of commitments from private equity investors and plans to enter the market once again, but this time as a buyer of properties. He also expects to launch a new business to provide advances to real estate agents based on their commissions, and then – if successful – roll out a similar program to fund mortgage brokers. He anticipates paying referral fees to mortgage companies that send business his way. “My goal is...
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Short Takes: The Big Loser in Nationstar’s ‘Insourcing’ Deal? / Wanting to Talk to U.S. Reps / The Desire to Own / Here Comes the Flood (Bills) / A Promotion at Guild Mortgage

June 22, 2017
George Brooks and Paul Muolo
But before you can shout “Let’s make America great again” there are some caveats to consider...
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Home Equity Softened in 1Q17, but Growth Prospects Looking Up

June 21, 2017
John Bancroft
Bank of America continued to dominate second lien lending with $4.05 billion of originations during the first quarter of 2017…
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Subservicers Post Steady Gains; Cenlar Continues its Dominance

June 21, 2017
Paul Muolo
Nationstar, in particular, has been aggressive in scouting for subservicing clients, and scored a big coup in January…
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After Last-Ditch Effort at a Capital Raise, Mortgage ‘Disruptor’ Sindeo Folds

June 21, 2017
Paul Muolo
According to resumes posted on LinkedIn, Stamos had no direct mortgage lending experience whatsoever, nor did his co-founder Ori Zohar.
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