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Short Takes: Huge Changes Coming to FHA HECM Program / UWM Ponies Up More Money for Brokers / One is the Loneliest Number / Scrutiny for Industrial Loan Charters / AI CEO Resigns After 10 Years

August 29, 2017
Paul Muolo
So, how is the program doing? A spokesman for UWM said 40 firms were created with the first round of seed money and all are still in business.
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New Online Lending Platform Hopes to Put Loan Officers Out of Work

August 29, 2017
Thomas Ressler
“The NOLO platform allows customers to complete the mortgage lending process entirely online without the industry standard loan officer interference at each step,” 360 said.
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Short Takes: Cherry Creek Mortgage Chairman Resigns. Why? / Healthcare Benefits Extended to Same Sex Couples / Hurricane Harvey, the Aftermath / Cancelling Closings as the Storm Approached / A New High for Home Prices

August 28, 2017
Paul Muolo and Sherry Muolo
The day before, Cherry Creek Mortgage issued a statement saying it would extend health care benefits to cover same-sex couples “effective immediately.”
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What We’re Hearing: They’re Back: 80-10-10s / Credit Unions Allowed to Buy Servicing Rights? / DB Cuts Large Repo Deal with Penny Mac Financial / Wells Fargo, UWM Dominant in their Channels / So Long Wells, Hello loanDepot

August 25, 2017
Paul Muolo
Dan Hanson, a top production manager for number-one ranked lender Wells Fargo, has jumped ship for loanDepot...
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Eagles Named HUD Acting Deputy Secretary; Pantenaude on ‘Hold’ in the Senate

August 24, 2017
George Brooks
Senate Democrats opposing the administration’s proposed cuts to HUD’s FY 2018 spending bill have reportedly placed a hold on Pantenaude’s nomination...
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Short Takes: A New Loan Record for Freddie Mac / CFPB Warns Seniors About Reverses / Refis on the Rise a Bit / SFR Official Gets Ginnie Job / A New Hire for Mortgage Network

August 24, 2017
Paul Muolo and Sherry Muolo
According to a Freddie spokesman, the loan represents the “the largest-ever single-asset tax-exempt financing completed” by the GSE…
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Short Takes: Mortgage Apps Decline / What to do About Fannie and Freddie? / A Fast Grower, Guild has its Eye on M&A / Walter Bolting Reverses / A Promotion at UWM

August 22, 2017
George Brooks, Carisa Chappell, and Paul Muolo
A fast grower, Guild Mortgage is open to buying other shops...
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Short Takes: loanDepot’s Hsieh has Some Fun / Fannie’s Forecast / Finance of America Ramps Up Reverses / Jumbo Credit Standards Loosened, Somewhat / New Regional Hires for Silver Hill

August 22, 2017
Brandon Ivey and Paul Muolo
No update from loanDepot on the IPO, but CEO Anthony Hsieh took some shots at the rumor mill...
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Deephaven Mortgage Managing Director Brett Hively Departs; Former Quicken Executive His Replacement

August 21, 2017
Paul Muolo
Hively’s resume includes stints at Goldman Sachs (where Nichols also worked), New Century Mortgage Co., and Option One Mortgage.
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Short Takes: Treasury Secretary Mnuchin is Staying Put / Bet on an ‘Administrative’ Fix for the GSEs? / Mr. Cooper is Born / But Alice Cooper is #1 / Lima Hires Capital Markets Chief

August 21, 2017
Paul Muolo
Confused about Mr. Cooper? Just make out the check to Nationstar Mortgage...
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