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Short Takes: Strong Demand for Mortgage Chief Operating Officers? / Lenders Without Budgets are Less Profitable / Ocwen Turned Down a Good Bid / A CEMA Tale and BofA

April 28, 2015
Paul Muolo
Recruiter Rick Glass said the thirst to hire high-caliber mortgage COOs is coming from lenders that “want to move to the next level.”
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Real Estate Agents Frustrated with Appraisal Costs, Practices of Appraisal Management Companies

April 23, 2015
The costs for appraisals for home purchases have increased in recent years, according to some real estate agents responding to the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, with blame being placed on appraisal management companies. “Many agents report that appraisal costs have risen and AMCs’ overhead may be responsible,” said Tom Popik, research director of Campbell Surveys. While lenders aren’t required...
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Short Takes: A HUD Settlement for Green Tree? / After Losing LeBron, Quicken Owner Fears Little / More Regs for AMCs / Lenders You May Not Know: First Cal / Freddie Gets New Chief Risk Officer

April 22, 2015
Brandon Ivey and Paul Muolo
It's always possible that Green Tree could turn around and sue HUD before HUD sues them, which is what Quicken Loans did.
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Glen Messina, PHH’s $7.4 Million CEO

April 21, 2015
Paul Muolo
for 2014, Messina's compensation package included a base salary of $930,436, stock awards of $2.3 million and $4.1 million in “non-equity incentive” pay.
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Short Takes: MBA Backs Changes at CFPB / A Strong Quarter from MGIC / The Weekend the Lights Went out at FHA / S&P Puts Ocwen on Watch List / Executive Bolts Ocwen for Green River

April 21, 2015
Paul Muolo and Thomas Ressler
The MBA is backing changes to how the CFPB functions...
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Short Takes: So Much for the Moratorium on Captives Joining FHLBs / Nonprofits Stand Up for Ocwen / Ocwen Layoffs? / Time to Exit SFR? / CFPB Rule Update

April 16, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
Is the bloom off the rose in the single-family home rental market? Some institutional investors are shedding assets.
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Short Takes: Wall Street Firm Eyeing Mortgage Purchase? / SEC Won’t Take Action Against Carrington / Applications Decline Slightly / Relief for ‘Trailer Park’ Loans? / loanDepot Gets New Chief Credit Risk Officer

April 15, 2015
Brandon Ivey, Paul Muolo, and Thomas Ressler
The Wall Street firm hunting for mortgage acquisitions is not a depository like JPMorgan Chase...
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Will TRID Leave Settlement Agents in the Lurch?

April 7, 2015
Thomas Ressler
In the end, the residential originator is ceding less authority to the closing agent...
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Short Takes: How Many Lenders are Offering LPMI? / Sell that House Now! / NPL Market Waiting for a Shot of Fannie / CFPB Publishes Secret Sauce on TRID / MB Gets new Mortgage Chief

April 7, 2015
Paul Muolo and Thomas Ressler
Although Fannie Mae is poised to begin auctioning off some of its nonperforming mortgages, the market continues to be dominated by smaller deals.
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Appointment of Ed Golding to FHA Chief Raises Eyebrows on Capitol Hill

April 6, 2015
George Brooks
Moreover, it is unclear how much enforcement power Edward Golding can wield.
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