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Freedom Mortgage Close to Meeting Hiring Goal; May Hire Even More

February 17, 2015
Paul Muolo
Among originators, Freedom Mortgage ranks 10th. In 2014 it funded $23.63 billion, a 48 percent gain from the year prior.
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Short Takes: Mortgage Lawyers Raking in the (Compliance) Dough / What’s With all the 13-Gs? / Ocwen’s Stock on a Tear. What? / Obama Gives a Shout-Out to Nationstar / A New Hire for Auction.com

February 17, 2015
Brandon Ivey and Paul Muolo
Ocwen’s share price has almost doubled! How’s that? Well...
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M&T Faces Lending Discrimination Charges in New York

February 13, 2015
George Brooks
The Fair Housing Justice Center accused M&T Bank of violating the Fair Housing Act by offering higher loan amounts to white borrowers and allowing more flexible criteria...
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What We’re Hearing: Mystery Now Surrounds Sen. Johnson’s CFPB Letter / 46 Exams Sounds Like a Lot, but Is It? / Did HLSS Tell Mangrove to Take a Hike? / The Return of Fat Loan Officer Bonuses?

February 13, 2015
Paul Muolo
From what we understand, HLSS told Mangrove to take a hike…
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Short Takes: HUD’s Castro Presents the Math / How Much?/ The Market for FHA Streamline Refis / Citadel Rolls Out ‘Alt A’ Product Named After a Dog / Arvest Mortgages Gets a New CEO

February 11, 2015
Paul Muolo
Citadel Servicing Corp., which has made a name for itself as a new-style subprime lender, has rolled out an Alt A mortgage called “Maggi.”
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Mortgage Employment Almost Flat; One Issue: Hiring LOs With Heavy Pipelines

February 9, 2015
Paul Muolo
Another manager noted that, “It’s been very intense recruiting in the markets that have shown the most growth: Texas, California, Florida and the DC [Washington] area.”
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What We’re Hearing: A Death Knell for GSE Principal Reductions? / Too Many Chickens for Subprime? / Newman Moves Closer to Completing Purchase / Dimensional Increases Stake in PHH / The Ocwen-Cockroach Comparison?

February 6, 2015
Paul Muolo
With Ocwen about to unload a massive amount of servicing rights will the company still need to have such a large back-office operation in India?
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Short Takes: More MSR Shrinkage for BofA / And BofA Layoffs Too / Two Harbors Continues to Amass Jumbos / Another Blow for the PSPA Battle? / Clayton Hires Guy

February 5, 2015
Brandon Ivey and Paul Muolo
Two Harbors, a REIT, has been aggregating, on average, $300 million of jumbo mortgages per month.
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On a ‘Per Loan’ Basis, Bank LOs Earn Less, or So It Seems…

February 3, 2015
Paul Muolo
In some cases, loan officers who work for net branch operators can earn 225 to 250 bps per deal.
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Short Takes: WinWater Readies a New Jumbo Deal / How Would Uncle Sam Replace $153 Billion in GSE Income? / S&P Settles Without Admitting Guilt / New Correspondent Hires for LenderLive

February 3, 2015
George Brooks, Brandon Ivey, and Paul Muolo
Any monkeying with the GSE charters must get past two of the most powerful lobbying groups in all of housing finance...
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