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PRMI President and CEO Dave Zitting to Depart After Selling His Stake in the Lender

December 19, 2018
Paul Muolo
Founded 20 years ago, PRMI is a retail-only lender that funded $3.7 billion through the first nine months of 2018…
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Short Takes: Do GSE Servicers Need to Worry About Liquidity? / MF Cap Set at $35 Billion / New American Buys Minnesota Lender / Humble Beginnings / Kraninger Will Keep the CFPB Name / BoNY Mellon to Enter Non-Agency Market as Master Servicer

December 19, 2018
Paul Muolo and Brandon Ivey
Liquidity means access to cash – and is a chief concern of Ginnie Mae acting president Michael Bright as well…
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Speculation Centers on Clinton Jones for FHA Commissioner

December 18, 2018
Paul Muolo
Clinton Jones has worked for the HFSC since February 2013. From 2007 to 2008 he was a registered lobbyist for Fannie Mae.
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Short Takes: Freddie Mac’s New CEO? / Jeb’s Last Stand? Maybe Not / A ‘Comical’ Situation / A Low Grade for Hensarling? / Fannie’s New Chairman

December 18, 2018
Paul Muolo
As one veteran industry lobbyist explained with a hint of ire: “You’re telling me that a bunch of lame duck Congressmen who lost an election are going to show up on the Friday before Christmas?”
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Deputy HUD Secretary Pam Patenaude Quits After 15 Months on the Job

December 17, 2018
Paul Muolo
She brought a certain depth of knowledge to the table for her boss, Ben Carson, a career brain surgeon with little in the way of housing and mortgage experience.
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A Kinder, Gentler CFPB Under Kathy Kraninger? BCFP or CFPB?

December 14, 2018
Yemeng Yang
Kraninger said she will make a “near-term” decision on changing the agency’s name…
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What We’re Hearing: FHA Loan Limits / What a Shutdown Means / The Return of Angelo Mozilo / The Finger of Blame Points to Wall Street / New Disclosures from Ditech / A Subservicing Business Dominated by One Client

December 14, 2018
Paul Muolo
The panel Mozilo spoke on was billed: “Join two titans of the industry as they discuss the past, present and future of the mortgage industry.”
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Kraninger Signals a More Moderate Tone After Being Confirmed as CFPB Director

December 13, 2018
The Senate late last week narrowly confirmed Kathy Kraninger as director of the Consumer Financial Protection Bureau. In her first public remarks, the new director set a more moderate tone for the watchdog agency than recently departed acting Director Mick Mulvaney did during his tenure.
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Mr. Cooper Lands New Vice Chair and CFO – for $4.3 Million a Year

December 13, 2018
Paul Muolo
Marshall has a long resume in financial services, including stays at Bank of America, The Blackstone Group and other shops…
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Worries About FHFA Direction Persist, But It May Take A Year Before the Senate Clears Calabria as New Director

December 13, 2018
The White House this week finally made up its mind on a new regulator for the government-sponsored enterprises, picking conservative economist Mark Calabria to head the Federal Housing Finance Agency. Now comes the hard part: Getting the Senate to hold confirmation hearings and actually approve him.
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