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Kraninger Nomination to CFPB Post Mired in Partisan Dispute Over Document Request, Timing of Hearing

July 19, 2018
Republican and Democrat leaders of the Senate Banking, Housing and Urban Affairs Committee battled over minority requests for extensive documents about Kathy Kraninger, the Trump administration’s nominee to become the next director of the Consumer Financial Protection Bureau.
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Executives at Online Mortgage Brokerage Firm Top Survey of Nonbank Earners

July 18, 2018
Paul Muolo
At times, LendingTree’s share price has been highly volatile…
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MBA Chairman-Elect: Lenders in a Game of ‘Chicken’ on LO Compensation

July 18, 2018
Brandon Ivey
MBA Chairman-Elect Chris George said the CFPB could make some adjustments to LO comp regulations, providing lenders with more flexibility…
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CFPB to Shrink Advisory Group Memberships, Cut Costs by More Than Half

July 18, 2018
Yemeng Yang
The budget for the three advisory groups will be limited to $150,000 each per year.
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Short Takes: Maybe Fannie and Freddie were Solvent After All / Something to Think About? / Angel Oak is Busy, Very Busy and Needs Qualified Workers / New Hires / A Strong 2Q for MGIC

July 18, 2018
Paul Muolo
The judges opined: "Indeed, the GSEs lost more in 2008 ($108 billion) than they had earned in the previous thirty-seven years combined ($95 billion). Yet the GSEs remained solvent.”
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Short Takes: The Slow Fade of Banks Continues / False Claims Act Relief on the Way? / A Bank Advertising Mortgages on National TV / The Next Move for Bob Ryan of the FHFA? / Fannie Elects a New Director with a Blockchain Background

July 17, 2018
Paul Muolo
Most of the ads we see tend to come from nonbanks such as Quicken, loanDepot and CashCall…
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Short Takes: A Change of (Jumbo) Heart at Wells Fargo / An Anti GSE ‘Intifada’? / Looking the Other Way on Charter Creep? / DeMarco for FHFA Director? / Production Official Bolts Movement Mortgage for Union Bank / Correction

July 16, 2018
Paul Muolo, John Bancroft, and Brandon Ivey
Capital Alpha said its choice to be the next FHFA director is Ed DeMarco, who held the job once before...
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NRL Mortgage Increasing Staff, Will Expand Into New Markets

July 12, 2018
Brandon Ivey
A retail lender, the Houston-based NRL has increased staff at a branch in Cincinnati by 25 percent this year…
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PiperJaffray: Lenders are Cutting Costs but It’s Not Enough. LO Pay Must Come Down

July 12, 2018
Paul Muolo
Consultant David Lykken said some mortgage bankers believe LO comp is “untouchable,” but he strongly disagrees…
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Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

July 12, 2018
Paul Muolo
One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…
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