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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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Another Round of Servicing Layoffs for Ocwen: 300 Jobs in Iowa; India Workforce Continues to Grow

September 24, 2015
Paul Muolo
The old GMAC servicing platform in Iowa appears to be on a death-watch as Ocwen sells GSE servicing rights and opts for cheaper labor overseas...
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SEC Drops Case Against Former Fannie Mae Executive Thomas Lund

September 22, 2015
Paul Muolo
Lund’s vindication comes at a time when both GSEs are now earning several billion dollars per quarter.
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Short Takes: Hedge Fund Reduces (Slightly) its Stake in Ellington / Ocwen Reps Will Speak Japanese / U.S. Bank Likes HELs / DocMagic Signs Up Mid America / CMLA Names New Chair

September 22, 2015
Paul Muolo and Brandon Ivey
Most of Ocwen’s back-office workers are overseas in India and the Philippines where call center workers make much less than their U.S. counterparts.
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Short Takes: Subservicer Up For Grabs / Rental Homes Merger / Michigan Mutual Hunts for Branches / Ocwen Keeps Paying Down Debt / FHFA Wants GSE Documents Out of the Public’s View

September 21, 2015
Paul Muolo and Carisa Chappell
Ocwen Financial continues to sell servicing rights and pay down debt. But its stock price isn't moving very much.
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What We’re Hearing: Former GSE Regulator No Fan (Still) of Fannie and Freddie / Falcon’s Prediction Didn’t Come True / Wilbur Ross Must Have the Touch / Man Buys Bank / Wells Sends FHA Another Message

September 18, 2015
Paul Muolo and Brandon Ivey
If the CEOs of Fannie and Freddie get their raises reversed, what will they do?
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Short Takes: Don’t Expect Fannie & Freddie Employees to Stage a ‘Walk Out’ / Who is This Guy? / Another Large NPL Sale for Freddie / Ocwen’s Ever Changing Moods / A New CFO for Auction.com

September 17, 2015
Paul Muolo and Brandon Ivey
What do Fannie/Freddie officials say about the walk-out? They were amused at the effort but declined to comment on-the-record.
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