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It’s Hard Out There For a Mortgage CEO; Speculation Focuses on PHH

October 13, 2015
Paul Muolo
Meanwhile, it would appear that the revolving door for mortgage CEOs might be taking another spin soon...
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Short Takes: Former White House Vendor Launches Cybersecurity Firm for Lenders / Sen. Corker Backs the GSE ‘Utility’ Concept / Ugoletti Heads for the Private Sector? / LenderLive’s New Hire / Name Change for Vendor

October 13, 2015
Paul Muolo and Carisa Chappell
Sen. Corker, a Republican from Tennessee, no longer wants to kill Fannie and Freddie outright...
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More Lenders Monitoring Their Loan Officers for Short Rate Locks?

October 12, 2015
Paul Muolo
One mortgage manager, requesting anonymity, said, “We are about to initiate a scorecard now.”
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CFPB Guidance on Marketing Services Agreements Goes Over Like a Lead Balloon

October 9, 2015
Thomas Ressler
The guidance doesn’t “tells us anything more than where we were an hour before this guidance came out," according to Michael Barone, a director of legal and regulatory compliance at Lenders Compliance Group.
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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
Paul Muolo and Carisa Chappell
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
Paul Muolo, Thomas Ressler, and Brandon Ivey
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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