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Why is it Taking So Long for Trump to Nominate Kittle as Ginnie Mae Chief?

August 7, 2017
Paul Muolo
According to industry officials who claim to have knowledge of the matter, Kittle is still the top pick, but...
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Short Takes: An Increase in Investigations for Nationstar / Succession-Related Hiring / Movement Looking for Sales Personnel / A Solid Profit for Redwood / Greystone Hires MF Executive

August 7, 2017
Paul Muolo
Among residential lenders in a hiring/growth mode is Movement Mortgage...
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What We’re Hearing: The Clock is Ticking / Ivanka Trump, the GSEs, Mary Bailey and the Debt Ceiling / How Far will the FHFA Go in Loosening Credit? / Bad Timing on Mortgage M&A Deal / Impac’s Non-QM Plans Revealed

August 4, 2017
Paul Muolo
It was thought that Watt, while speaking at the annual convention of the NAREB, might, might say something about the GSE dividend payments...
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Fix & Flip Lender CALCAP Gets Equity Investment, Hires Former Flagstar Executive

August 3, 2017
Paul Muolo
Not counting the new investment from Gatehouse, CALPCAP has raised $225 million from investors since its inception 10 years ago. Company principal Mark Mozilo told IMFnews the firm is continuing to hire as it builds out a national lending platform.
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Short Takes: By September 30, the FHFA will Change the GSE Dividend Payment? / Not All Are in Favor / Profits and Volatility / A Loss for Nationstar but Stock Jumps a Bit / Flagstar Taps Fannie Mae Exec for Top Mortgage Post

August 3, 2017
Carisa Chappell and Paul Muolo
September 30 isn't far away...
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Short Takes: Freddie Moves Closer to SFR Financing / Room for GSE Legislation to Get Done? / Michael Bright: Acting Ginnie Mae Chief / Applications Decline / A New Hire for Waterstone

August 2, 2017
Carisa Chappell, Paul Muolo, and Sherry Muolo
Cowen & Co. analyst Jaret Seiberg believes the Senate Banking Committee remains on track to unveil GSE reform legislation late in the fourth quarter...
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After Years of Shedding Servicing Rights, BofA Getting Close to a Normalized Portfolio

August 1, 2017
Brandon Ivey
A telling sign: Bank of America employed 6,603 servicing employees as of the end of 2016, down 78.0 percent compared to the end of 2013.
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Short Takes: Freddie’s CEO Comments on Declining Capital Buffer / This is Not Your Parent’s Freddie Mac / Hensarling Calls for Investigation into Whether CFPB Chief Violated the Law / A Strong Quarter for Arch / Poulin Rejoins Mortgage Network

August 1, 2017
Carisa Chappell and Paul Muolo
Freddie Mac CEO Don Layton: "The fundamentals are strong and residual flaws are gone..."
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Short Takes: Ginnie Loses Another One / CEO Background / From Mortgage Owner to ‘Life Coach’ / Kudos to Freedom and Fairway / A New Regional Hire for Stearns

July 31, 2017
Paul Muolo
Among the top 20 lenders in 2Q17, Fairway Independent Mortgage had the highest growth rate at 64.2 percent.
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House Appropriators Pass HUD Funding Bill, Reject Proposed Fee

July 21, 2017
The House Appropriations Committee this week approved a FY 2018 spending bill for the Department of Housing and Urban Development with a $135 million allocation for information technology upgrades in lieu of a proposed lender fee. The set-aside also covers quality control and risk management improvements as well as other administrative costs. The recommended funding is $5 million more than the FY 2017 enacted level for administrative contract expenses and $25 million below the budget request. Approved by a vote of 31 to 20, the bill provides HUD with $38.3 billion in discretionary spending for FY 2018, down $487 million from the current level. The House bill authorizes $400 billion for loan guarantees under the FHA Mutual Mortgage Insurance Fund, including the Home Equity Conversion Mortgage program, and $500 billion for Ginnie Mae. Ginnie will also receive $25.4 million for agency staffing, which is ...
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