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Short Takes: Freedom, Now the Big Kahuna of FHA & VA / Quite an FHA Decline for BofA / Job Cuts at Ditech / Bad Timing / A New Subprime MBS?

August 18, 2016
Paul Muolo and John Bancroft
Will the last megabank left in the FHA market please turn off the light...
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Short Takes: Underperforming LOs Should be Shown the Door / loanDepot’s Hsieh on What Investors Want / Former Goldman Trader Chin Takes it on the Chin / GSE Relief for Flooded Homes in Louisiana / New Hire for ATTOM

August 17, 2016
Paul Muolo, Brandon Ivey, and Carisa Chappell
Joe Garrett added: “…if you keep mediocre producers around, it sends a message that you tolerate mediocrity…”
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Walter’s New CEO Tony Renzi Could be a $5 Million Man His First Year

August 16, 2016
Paul Muolo
Compared to the second quarter of last year, revenues at Walter declined an ugly 54.6 percent to $187.5 million. In other words, Renzi has a lot to turn around…
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Short Takes: Another MI M&A Deal in the Works? / Tony Renzi’s Stock Award / Fannie Reviewed Board Seat for CEO / Don Works for Free / Regions Works Out HUD Settlement

August 16, 2016
Paul Muolo and George Brooks
Keep in mind there are just seven MI firms writing new policies today so there are antitrust implications regarding two large players merging...
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The Industry Caught One Big Break on the TRID 2.0 Proposal: Sharing Disclosures with Others

August 11, 2016
Thomas Ressler
Many lenders were concerned about the privacy implications of giving the borrower's closing disclosure to the real estate agent.
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Mortgage Brokers Upset with How CFPB Handled Small Business Panel for LO Comp Rule

August 11, 2016
Brandon Ivey
Several mortgage brokers believe their industry wasn’t well represented on the panel…
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Relationship with Fannie CEO at Heart of Decision to Fire Fifth Third General Counsel. So Far, Industry Questions Bank’s Decision

August 11, 2016
Paul Muolo
According to figures compiled by Inside The GSEs, Fifth Third doesn’t even rank among Fannie’s 40 largest customers and sells almost 70 percent of his home mortgages to Freddie Mac, based on July data.
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Short Takes: When Donald Met the NAHB / No New Regulations? / Foreclosures Rise on a Sequential Basis / Good News for the FHA MMIF / New Hire at Incenter

August 11, 2016
Paul Muolo and Sherry Muolo
Earlier in the week, candidate Trump warmed the hearts of banking and financial services executives everywhere when he said he would propose a moratorium on all new financial regulations…
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Large Nonbank Originator Launches ESOP Program, As Founder Gives More of the Firm to Its Employees

August 11, 2016
Fairway Independent Mortgage, Madison, WI, has been quietly giving control of the company away to a group of investors who are key to its growth: its own employees. The nation’s 22nd largest lender – as ranked by Inside Mortgage Finance – has been issuing stock to some of its senior executives since late last year, but recently rolled out an employee stock ownership plan to anyone, provided they work there for at least a year. For employees, the best part is...
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Short Takes: Brokers are Hot, Bankers Not So Much / Help Wanted: Senior Mortgage Execs / Flagstar Boosting Retail / The Cost Savings From Closing a Jumbo Conduit / New NPL Auction from Fannie Mae

August 10, 2016
Paul Muolo and Brandon Ivey
Senior-level mortgage executives are in demand these days, according to one recruiter...
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