Short Takes: Lending Tree Comes Back Down to Earth / If Mortgage Rates Hit 5 Percent… / WMIH and Nationstar Shareholders Approve / NJ Mortgage CEO and Founder Resigns / Executive Bolts Stewart for WFG July 2, 2018 Paul Muolo and Brandon Ivey LendingTree founder and CEO Douglas Lebda took home total compensation of $59.6 million last year...Read More
What We’re Hearing: A Lifeboat Too Small? / Non-QM Loans Performing Well, So Far / Ridiculous Housing Prices Continue / A 40 Percent Disappearance Rate? / A Recession Might Save the Day / Fannie Trouble? / Costly Borrowing for WMIH June 29, 2018 Paul Muolo Once risk-layering appears and LTV ratios climb, then all bets are off...Read More
Another Job for CFPB’s Mulvaney? Kraninger’s Confirmation Hearing Set for July 19 June 29, 2018 Yemeng Yang “It’ll be more chaos if the president has to appoint another acting director," said one former CFPB official.Read More
Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello June 28, 2018 Paul Muolo A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...Read More
Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down June 27, 2018 Paul Muolo, George Brooks, and Carisa Chappell FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."Read More
Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official June 26, 2018 Paul Muolo Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…Read More
Wells Fargo Cuts 100 Workers at South Carolina Location June 25, 2018 Paul Muolo Applications have picked up in April, May and June but firms that focused too heavily on refis are now feeling the heat.Read More
New York Judge Rules CFPB’s Structure Unconstitutional June 22, 2018 Yemeng Yang The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.Read More
What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech June 22, 2018 Paul Muolo One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”Read More
Conservatives Rallying Against the CFPB Nominee? June 21, 2018 Yemeng Yang Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”Read More
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