Short Takes: Who is Andrew Olmem and Why Does He Matter? (GSE Reform) / A Production Gain for Ditech / Citywide Home Loans Signs Partnership Deal with Stearns / Caliber Readies Nonprime MBS November 15, 2018 Brandon Ivey and Paul Muolo If you haven’t heard of Andrew Olmem before, it’s because he tends to keep a low profile.Read More
After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More November 15, 2018 Paul Muolo The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”Read More
Short Takes: MMIF Audit Due Thursday / Good News Expected but no FHA Premium Cut / Trades Voice Support for Kraninger at the CFPB / A Promotion at Stewart Title November 14, 2018 Paul Muolo and Yemeng Yang The groups expressed their view that Kraninger has the ability to lead and manage the CFPB and protect the financial interest of consumers.Read More
PrimeLending Recruits LOs, Cuts Poor Performers November 13, 2018 Brandon Ivey As of early November, PrimeLending had 1,336 LOs registered on the Nationwide Multistate Licensing System.Read More
Short Takes: Assessing the Value of GSE Common / The Prior Decade and GSE Share Prices / Worrying About Home Values in California / Another MBS Settlement for Wells Fargo / Vendor Hires Fannie Mae Official November 13, 2018 Paul Muolo Early last decade, Fannie common once traded as high as $85.03, Freddie $68.20.Read More
September Proves to be a Turning Point for Mortgage Employment, and Not in a Good Way November 12, 2018 Paul Muolo One loan broker said business has been so slow that it’s like, “going into a hockey rink overnight: Dead quiet.”Read More
Short Takes: Still Hiring, UWM / Strong Growth for the Nation’s Largest Wholesaler / The Moelis GSE Plan: the Good and the Bad / Promotions at Nations Lending November 12, 2018 Paul Muolo United Wholesale Mortgage continues to hire...Read More
What We’re Hearing: The ‘Hensarling Effect’ / Team Trump, Not Congress, Will Reshape the Fannie and Freddie / Timing? / Selling Servicing Rights to Unleash Revenue / Ocwen’s Head Count November 9, 2018 Paul Muolo The first move expected is a possible lowering of GSE loan limits... Read More
Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point November 8, 2018 Brandon Ivey and Paul Muolo UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...Read More
Ocwen’s New CEO Talks About Severance Payments, but Growth Too November 7, 2018 Paul Muolo Ocwen CEO Glen Messina: "Having completed the merger, we now have unrestricted access to PHH employees..."Read More
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