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Capital One Will Exit Mortgage Business but will Keep MSR Portfolio

November 8, 2017
Paul Muolo
Back in February, Capital One’s Senior Director of Home Loans Eric Declercq left the company for a position at loanDepot.
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Short Takes: Angel Oak Rolls Out New Non-QM Product / A Banner Month for Citadel / Radian Says Don’t Worry About Clayton / Tax Overhaul and the MID? Relax / A New Hire for Stearns Lending

November 8, 2017
Paul Muolo
A handful of mortgage executives have suggested to us that trade groups are overreacting to the GOP’s tax overhaul plan and the way it treats the mortgage interest deduction...
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As Industry Plans for Next Year, Layoffs Commence. CEO Changes Ahead?

November 7, 2017
Paul Muolo
Industry consultant Paul Hindman believes more executive changes are likely in the months ahead…
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Short Takes: The ‘Think-Tank’ GSE Hearing / More Red Ink for AAMC / AmeriSave’s New President / A Servicing Milestone for Flagstar / Equity Prime Hires New CFO

November 7, 2017
Paul Muolo and Carisa Chappell
Tuesday’s panel discussion has been dubbed the “think tank” hearing because it includes representatives from the Urban Institute, the Milken Institute and American Enterprise Institute…
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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
Paul Muolo and George Brooks
Look for another reverse mortgage lender to hit the auction block...
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