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PHH Taps Guild Mortgage Executive for JV; Realogy to Raise $1.15 Billion

October 8, 2015
Paul Muolo
Meanwhile, PHH's partner, Realogy, this week said it intends to raise $1.15 billion through the sale of senior notes.
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Short Takes: Senators Don’t Expect GSE Reform Anytime Soon / Shooting Down the White House GSE Rumor / What’s With Stonegate’s Stock Price? / Sale or Bust?

October 7, 2015
Carisa Chappell and Paul Muolo
When the news broke about Stonegate this past summer, FBR issued a note to its clients saying that, “We expect the company has two options: hire a replacement CEO quickly, or sell the business altogether.”
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Ocwen Spin-off HLSS Settles Erbey-Related Allegations

October 6, 2015
Brandon Ivey
HLSS also misstated its net income in 2012, 2013 and the first quarter of 2014.
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Short Takes: Vote on TRID ‘Safe Harbor’ Bill Set for Tuesday Night / More on the GSEs’ Spending Problem / More Headaches for New Residential / Good News for Cash-Out Refis, Seniors / Prudential Hires MF Manager

October 6, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
Not only are Fannie Mae and Freddie Mac spending more money than they were a few years ago, but their proposed budgets are being submitted late, says the IG.
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Short Takes: Short Sellers Target Ocwen Big Time / A Dangerous Game / CFPB IG Identifies ‘Challenges’ / Fastest-Growing Lender Revealed / FGMC Hires Former Fannie Official

October 5, 2015
Paul Muolo and Thomas Ressler
Anyone familiar with equities knows that shorting stocks can be a dangerous game. Then again, it's Ocwen...
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John Sherwood to Step Down as President of NMI Holdings

October 2, 2015
Paul Muolo
One of the MI’s key products is lender-paid mortgage insurance, which has come under regulatory scrutiny.
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What We’re Hearing: Is It ‘Open Season’ on Mortgage Bankers? / The Coming Storm Over Marketing Service Agreements / Realtors and MSAs? / loanDepot Fights Back / Mortgage Carpetbaggers?

October 2, 2015
Paul Muolo
Some have suggested that it’s no wonder that several mortgage company owners – including those who control specialty servicers – are contemplating selling their companies.
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Short Takes: FHFA Not Quite Done with the MI Industry? / RealtyMogul.com Enters the Fix-and-Flip Space / Another Vote to Defang the CFPB / As for the CFPB IG… / MCT Hires Former Nationstar Official

September 30, 2015
Paul Muolo and Thomas Ressler
Or as Marc Savitt of the National Association of Independent Housing Professionals put it: “Nothing will pass as long as Obama still has a pen…”
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Use of Expense Accounts Brought Trouble Under LO Comp Rule

September 29, 2015
Thomas Ressler
The CFPB alleged that expense accounts were really “point banks” and that payments in the form of bonuses and commissions were based on mortgage profitability...
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What We’re Hearing: Two Specialty Servicers Up for Grabs? / Dovenmuehle Speaks! / Dovenmuehle’s Secret Sauce: Pricing / At Least One Servicer Doesn’t Have Employees in India / A Potential Government Shutdown and the Implications for Lenders

September 25, 2015
Paul Muolo
Are you ready for a government shutdown, one that could screw up the mortgage market? If not now, maybe later in the year...
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