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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
Paul Muolo and Brandon Ivey
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
Paul Muolo, George Brooks, and Brandon Ivey
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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Short Takes: CA DBO Looking for an Ocwen Auditor / Please, No Conflicts of Interest / HUD’s Castro a No-Show? / More Financial Pain for the Rating Agencies / Envoy Hires Away TMS Executive

February 2, 2015
Paul Muolo
The DBO request for proposal asks that applicants for the Ocwen contract state whether they – or any affiliates – have done any consulting work for the servicer.
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What We’re Hearing: So, Where's the Seller-Servicer Eligibility Proposal? Oh, Here It Is! / GSE Pay in Danger? / Bill Erbey’s Big Mistake and Why Investors are Mad / Garrett, McAuley Expands

January 30, 2015
Paul Muolo
The FHFA is spending much of its time studying both the liquidity of servicing rights and the operational capacity of GSE servicers.
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Short Takes: CFPB Seeks to Expand Credit in Certain Areas / Will Banks Reemerge as MSR Buyers? / What’s Going On With Stonegate? / Fannie Goes Downtown / A New General Counsel for Genworth

January 29, 2015
Paul Muolo and Thomas Ressler
Stonegate Mortgage saw its share price fall to a new 52-week low of $9.76 Thursday morning on no major news.
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