Cowen: Trump Will Have Trouble Replacing Cordray as Head of the CFPB December 27, 2016 If Trump wants to get rid of Cordray, he will have to fire him “for cause,” says Cowen analyst Jaret Seiberg. Read More
‘Corker-Warner’ Co-Author Michael Bright, A Candidate for the Ginnie Mae Job? December 22, 2016 Paul Muolo This summer, Bright co-authored a GSE white paper with former Federal Housing Finance Agency Director Ed DeMarco…Read More
Short Takes: Another Nonprime Lender Gets Rated / MorVest Wraps Up GSE MSR Auction / PennyMac’s Financing Deal / A Bright Idea and Others / BB&T Names New Prez / A Short Publishing Break for IMFnews December 22, 2016 Paul Muolo Another non-agency lender has received a rating from Fitch: Angel Oak Home Loans... Read More
New Home-Equity Lender Could Fund $450 Million in 2017; Seeks to Hire LOs December 21, 2016 Paul Muolo Shellpoint owns part of Spring EQ and both firms have common owners.Read More
Ginnie Mae President Ted Tozer Set to Leave Jan. 20, but Would Like to Remain as a Consultant (For a While) December 20, 2016 Paul Muolo Since the election, Tozer has met with the Trump Department of Housing and Urban Development “landing team” once, for a 90 minute meeting that included Shawn Krause… Read More
New Penn CEO Jerry Schiano Launches ‘Home Equity’ Lender Targeting the ‘Underserved’ December 20, 2016 Paul Muolo The startup is emphasizing its “user-friendly digital” loan process…Read More
Short Takes: MSR Markups Could be Off the Charts / Good News for Ocwen, Nationstar, PHH, Others… / Habib on Rates / Greystone’s Freddie MF Loan / Selene Unveils Staff Changes December 20, 2016 Paul Muolo Barry Habib of MBS Highway told us the Dow will hit 20,000 and then around mid-January stocks will pull back but “not crash.” Read More
Short Takes: PHH Files Layoff Notice with NYS / Jobs Will be Offered to Certain Employees / Altisource Wanted to Buy LPS / Mortgage Network Names New President December 19, 2016 Brandon Ivey and Paul Muolo PHH had been subservicing the loans for HSBC and the new owner of the MSRs had opted to bring the loans inhouse instead of using PHH…Read More
What We’re Hearing: As Rates Move Higher, Disaster Looms for the Mortgage Industry (Not Really) / The Stock Market Will ‘Correct’ on This Date… / New Fannie Survey Finds Lenders Glum / He’s Back: Nonprime Veteran Jon Daurio December 16, 2016 Paul Muolo If rates don’t improve in the next few months, one area where lenders will try to save money is on loan officer compensation... Read More
With Rates Rising, CEOs Contemplate Cost Cuts and that Means LO Comp is in Play December 15, 2016 Thomas Ressler Lenders should never make unrealistic promises when recruiting loan officers, said one webinar panelist…Read More
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