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Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO

October 9, 2018
Paul Muolo
The new interim CEO was an EVP at PNC Financial where he led the real estate division and was a founding partner and managing director of BlackRock...
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Short Takes: Castle & Cooke? / The Fannie Mae Connection / Frater, a Good Choice to Head Fannie / LendingHome Surpasses the $3B Mark in FnF Production / NDA Hires Clayton Executive

October 9, 2018
Paul Muolo
Fix-and-flip lender LendingHome, San Francisco, has surpassed the $3 billion market in originations...
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Mortgage Brokerage Firms Slash Jobs. More Carnage to Come?

October 8, 2018
Paul Muolo
With originations expected to fall, lenders of all different stripes are carefully examining their staffing needs…
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Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor

October 8, 2018
Brandon Ivey and Paul Muolo
One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...
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Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO

October 8, 2018
Paul Muolo
Frater was also executive vice president at PNC Financial Services...
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Former Redwood CIO Joins Shared-Appreciation Firm, Will Develop Securitization Outlet

October 4, 2018
Brandon Ivey
EquiFi plans to license its shared equity product to other originators…
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Eli Global Founder the Subject of Federal Subpoenas. A Mortgage M&A Deal was in Progress

October 4, 2018
Paul Muolo
As press time, Lindberg’s spokesman, Chuck Norman of S&A Communications, had not returned several emails and telephone calls regarding the subpoenas.
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Short Takes: Freddie the Final Takeout on SFR Deal / Helping Reven / Gateway Mortgage Recruiting / Sen. Warren Questions Mulvaney’s Role in Fundraiser / A Promotion at Fannie Mae

October 4, 2018
Paul Muolo and Yemeng Yang
Gateway Mortgage of Oklahoma is in a hiring mode these days...
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CFPB’s Mulvaney Says Reorg Will Continue Despite Criticism of Fair Lending Chief

October 3, 2018
Yemeng Yang
CFPB Director Mulvaney: “I will not be undoing the changes. I recognize this is not the result that some of you may have wanted. But I stand by my decision and we will proceed accordingly.”
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FHFA’s Examiner Program Under Fire for Lack of Results

October 3, 2018
Carisa Chappell
During a House hearing, Rep. Ann Wagner, R-MO, criticized the FHFA for spending $7.7 million on what she called a “crucial training program which lacks professionalism, among other things…”
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