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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...
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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.
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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...
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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..."
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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…
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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.
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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.
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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….”
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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…”
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Trump’s CFPB Nominee Takes Flak But Resets the Clock for Mulvaney

June 21, 2018
President Trump this week nominated a little-known White House budget official to run the Consumer Financial Protection Bureau, effectively allowing Mick Mulvaney to stay as the agency’s acting director, possibly until 2020.
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