Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update January 22, 2015 George Brooks, Brandon Ivey, and Paul Muolo Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...Read More
Time for Young Blood in the Executive Suites of Mortgage Firms? January 21, 2015 Paul Muolo “I see a lull in aspiring new talent,” recruiter Rick Glass told Inside Mortgage Trends. Read More
Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire January 21, 2015 Brandon Ivey and Paul Muolo Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…Read More
Citing FHA Premium Cut, Freedom Mortgage May Hire 500 January 20, 2015 Paul Muolo The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.Read More
After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash January 20, 2015 Paul Muolo The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months. Read More
Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella January 20, 2015 Paul Muolo Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...Read More
What We’re Hearing: Nonbanks Almost Equal to Banks in GSE MBS / More Mortgage Trouble for Cerberus / Meddling by Cerberus? / Hope for Ocwen? / The Failed GSE Duopoly? / Investor Unite a Bust? January 16, 2015 Paul Muolo The Federal Housing Finance Agency will unveil nonbank capital guidelines for servicers by mid-year. Also on the docket: Changes to loan level price adjustments..Read More
Short Takes: A Boom in Bank MSR Sales? / Ocwen’s Bonds Hold Up / Common Securitization Solutions’ ‘Black Budget’ / New Global Mortgage Chief for Citi / New Hires for Auction.com January 15, 2015 Paul Muolo The FHFA, so far, has declined to provide a budget figure to the general public.Read More
Short Takes: JPM Touts Correspondent Channel / CFPB Chief Cordray Says the Sky Did Not Fall / What? / Supreme Court Deals Blow to RBS, Nomura January 13, 2015 Paul Muolo and Thomas Ressler Despite Cordray's proclamation, loan production fell by 35 percent last year, but all that was tied to refis plunging. Right?...Read More
Want to Make Money as a Loan Officer? Don’t Work at a Bank January 11, 2015 Paul Muolo How much a loan officer earns can be determined by where his/her leads come from.Read More
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