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Freddie CEO Don Layton Announces His Retirement

September 5, 2018
Paul Muolo
For its internal candidate, Freddie has identified David Brickman to succeed Layton.
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Short Takes: Quicken’s Message to Loan Brokers / A Big Gain in Quicken’s Broker Market Share? / Lennar Picks New CEO for its Mortgage Sub / Fintechs Should be in CFPB’s Complaint Database

September 4, 2018
Paul Muolo and Yemeng Yang
The marketing message from Quicken goes on to say: “Brokers are taking notice as we’ve doubled our market share over the last year..."
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Short Takes: Federal Help for the Gig-Worker Mortgage Market? / New SBC Programs from Silver Hill / Consultant Roque: LO Pay Isn’t Being Cut Quickly Enough / Fairholme: Fannie and Freddie are So Undervalued / A New Customer Service VP for RoundPoint

August 30, 2018
Paul Muolo
According to industry consultant Rick Roque, residential originators are not lowering loan officer compensation quickly enough...
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MBA’s ‘Profit’ Took a Hit in FY 2017, but Assets Increased by Almost 10 Percent

August 29, 2018
Paul Muolo
MBA listed compensation for “current officers, directors, trustees and key employees” at $6.0 million for fiscal year 2017. It was $7.1 million the year prior…
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Gateway Mortgage Founder, a Trump Supporter, Wins GOP Primary in Oklahoma

August 29, 2018
Brandon Ivey
The Gateway Mortgage founder won the Republican primary with 54.6 percent of the vote.
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Short Takes: A ‘Significantly’ Less Liquid Secondary Mortgage Market? / In Five Years the GSE Loan Limit Would be Zero (for Example) / Origination Capacity Remains Elevated / Fannie Exec Joins RoundPoint

August 29, 2018
Paul Muolo and Brandon Ivey
Origination capacity in the mortgage industry remains “elevated,” according to a new report from PiperJaffray.
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Driven by Lower Expenses in 2Q, Nonbanks Stage a Turnaround in Origination Profits

August 28, 2018
Brandon Ivey
Personnel expenses averaged $5,195 per loan in the second quarter, down $704 from 1Q18…
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Short Takes: A New Origination Forecast from Freddie / Market Share Leaders in Retail and Correspondent / FHFA Seeks Comment on ‘Golden Parachutes’ / Arch’s Reinsurance Deal / Better Mortgage Hires Fed Economist

August 28, 2018
Paul Muolo and Brandon Ivey
But Wells Fargo dominated in the correspondent channel with a 20.9 percent market share...
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Short Takes: Don’t Worry About the Government / Don and Maxine, Fireworks Ahead? / Steve’s Choice / Invitation Homes CEO Takes A Leave of Absence / Customers You Never Need to Call (A Good Thing)

August 27, 2018
Paul Muolo
Cowen believes Rep. Maxine Waters will use the post to go after President Trump and his White House team...
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Watt’s Accuser Sues FHFA, Wants $1 Million in Damages for Pay Discrimination

August 22, 2018
Paul Muolo
Grimes, in her complaint, is asking for a permanent injunction enjoining the FHFA from “paying female employees lower compensation than their male” counterparts for performing equal work…
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