First Up to Testify Thursday at the HFSC FHFA Oversight Hearing: Simone Grimes, Mel Watt’s Accuser September 26, 2018 Carisa Chappell Simone Grimes, who holds the title of special advisor, is still employed by the agency.Read More
Short Takes: Speculation on What Mel Watt Might Say / Ocwen Schedules a ‘Special’ Meeting of Shareholders / NOLs of Roughly $400 Million / In the Event of a Change of Control? / FoA Rolls Out Second-Lien Reverse September 26, 2018 Paul Muolo Ocwen said its ability to utilize the NOLs to offset future taxable income may be significantly limited if the company experiences an ownership change. Read More
Former Incenter Trading Unit Reemerges as RAMS Mortgage Capital September 25, 2018 Paul Muolo The unit will continue to be headed by industry veterans Tad Dahlke and Hal Hermelee...Read More
Short Takes: Full Bore into Non-QM? / FHA Could Hike Premiums / Record Attendance at ABS East / Departures from Sprout / A New Denver Branch for Churchill Mortgage September 25, 2018 Brandon Ivey and Paul Muolo Will FHA hike its premiums? Maybe, maybe not...Read More
Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions September 21, 2018 Paul Muolo The megabank is not commenting on how the cuts might affect specific business units... Read More
Brian Brooks, a Possible Successor to Fannie CEO Mayopoulos, Departs September 20, 2018 Paul Muolo Brooks was vice chairman of OneWest Bank, a depository once owned by current Treasury Secretary Steven Mnuchin.Read More
Incenter Halts ‘Active Market Making’ of TBA Securities September 20, 2018 Paul Muolo Incenter is a “portfolio” company of The Blackstone Group, which has several mortgage-related investments including…Read More
Short Takes: Connecticut Mortgage Regs Reach a ‘Breaking Point’? / A Revenue Grab? / One Subservicer That Benefits From Too Much State Regulation / Ditech, a Very Thinly Traded Mortgage Stock / PenFed Hires JPM Executive September 20, 2018 Paul Muolo First Alliance issued a statement calling the license idea a “desperate revenue grabbing” practice.Read More
Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae September 19, 2018 Brandon Ivey and Paul Muolo On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.Read More
They’re Back: CFPB Advisory Boards (But with Fewer Members) September 18, 2018 Yemeng Yang Two new members of the consumer panel come from the fintech world: Sameh Elamawy, CEO of Scratch, and Manning Field, CEO of Acorns.Read More
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