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Special Counsel Clears Cordray of Election Law Violations

November 6, 2017
Thomas Ressler
The Office of Special Counsel found no evidence that the CFPB's Richard Cordray violated the Hatch Act.
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Short Takes: Bill Ashmore’s Next Move / Richard Pickup, the Largest Investor in Impac / Weaker Results for PennyMac, the REIT / A New Hire for MBA

November 3, 2017
PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."
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After 22 Years as President of Impac, Bill Ashmore Calls it a Day

November 3, 2017
Paul Muolo
No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…
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What We’re Hearing: The Mortgage Cycle Turns / PE Firms Ready to Pounce? / Show Mr. Cooper the Door? / Impac in Play? / loanDepot Retail Chief David Norris Departs for Law Enforcement Project / More Nonprime MBS on the Way

November 3, 2017
Paul Muolo
Ocwen will not be sold through a stock deal, but Nationstar could be...
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Rep. Hensarling to Retire. Speculation Immediately Begins on FHFA, CFPB Jobs

November 1, 2017
Thomas Ressler
“The other natural job would be as CFPB director,” the Cowen analyst continued. “That said, Hensarling has shown much greater interest in housing finance…”
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Short Takes: Fannie Mae Readies 3Q17 Results / Should be a Good Quarter / Another Reverse Lender Hits the Auction Block? / Rejection Rates for FHA, VA Loans / A New Hire for Stearns

November 1, 2017
George Brooks and Paul Muolo
Look for another reverse mortgage lender to hit the auction block...
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Short Takes: Keeping an Eye on GSE Hurricane Charges / The Tax Bite / In the End, Treasury Wins No Matter What / More Delinquency Data / A Promotion at Norcom Mortgage

October 31, 2017
Carisa Chappell and Paul Muolo
You might say that in the end, Treasury cannot lose when it comes to the GSEs...
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Short Takes: No Retained Portfolio for the GSEs? / A 33 Percent Chance for a Bill / Have a Mortgage Question? Ask a Real Estate Agent First / MIAC Selling Whole Loans / PrimeLending Picks SoCal Manager

October 30, 2017
Paul Muolo
No GSE-retained portfolios in Treasury's plan?
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What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

October 27, 2017
Paul Muolo
But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...
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Short Takes: Ocwen Sale Could Spell Trouble for Indian Workers / Tepid Mortgage Results for Ally / From GMAC to Ocwen to Nationstar / 3Q Results from Radian, Altisource / No Thanks, Mr. Mnuchin

October 26, 2017
Carisa Chappell and Paul Muolo
Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.
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