Short Takes: Okay, Is Mortgage Credit Tighter or Looser? / A Management Shakeup at a Texas Lender / Quick, Rehire All the People You Fired / Tax Extender Bill Passed / Ex-CFC LO Headed to ‘The Big House’ December 17, 2014 Brandon Ivey and Paul Muolo A mid-sized nonbank based in Texas saw two of its top officers resign last week, industry sources confirmed to IMFnews.Read More
Short Takes: CMLA Wants GSEs to Retain Net Earnings / Cantor Expands Whole Loan Trading Desk / Carrington Hires Orman / Some Nice Words for Ocwen / FCI Shows Strong Growth December 15, 2014 Paul Muolo Moreover, CMLA wants lower guaranty fees for seller/servicers...Read More
What We’re Hearing: Does Impac Have Money for a Big M&A Deal? / Ocwen Catches the Eye of Treasury / A 480 FICO Score Lender? / How Fannie and Freddie Really Feel About Nonbanks December 12, 2014 Paul Muolo What do Fannie and Freddie really think of nonbanks? Read their SEC filings.Read More
S&P Affirms Rating on New Penn, Notes Progress but a Production Decline Too December 11, 2014 Brandon Ivey New Penn also reorganized its origination channels, consolidating wholesale and correspondent, while adding a mini-correspondent business line.Read More
In 2015, Half of All CFPB Staffers Will be in Supervision, Enforcement or Fair Lending December 10, 2014 Thomas Ressler Compared to two years ago, staffing levels at the CFPB have increased a whopping 55 percent. Of course, Congress has no say over the agency’s budget.Read More
Nonbank Trade Group Wants Depository Parity on Loan Officer Testing, More December 10, 2014 Paul Muolo The new plea from the CHLA comes at a time when depositories are losing origination market share to fast growing nonbanks like Freedom Mortgage, United Wholesale Mortgage and others.Read More
Short Takes: Are Investors Done Selling Ocwen’s Stock? / Who Might DocMagic Buy Next? / How is CitiMortgage Like Ocwen? / CFPB Budget Rises / Fannie Mum on Reinsurance Partners December 10, 2014 Brandon Ivey, Paul Muolo, and Thomas Ressler But is DocMagic president and CEO Dominic Iannitti done buying? Stay tuned…Read More
Short Takes: A Bond Backed by 10-Year-Old Alt A Loans / CalCap Expands into Arizona / Ocwen Gives a Nice Raise to CFO / A No PMI Loan From Stonegate / Sherwood Gets Prez Job at NMI December 9, 2014 Brandon Ivey and Paul Muolo Ocwen Financial, whose stock has been clobbered this year, recently increased the base salary of its chief financial by $50,000...Read More
Short Takes: CFPB Examining Pre-Approval Letters Now? / CFPB ‘Consumer Narratives’ Still an Issue / Caliber Loosens Credit Even More / The Lawsky Question / FHA Weighs in on Loan Limits December 8, 2014 Brandon Ivey, Paul Muolo, and Thomas Ressler Industry advisor Joe Garrett said in a client note he knows of a lender that had its pre-approval letter scrutinized by the CFPB.Read More
Appraisal Management Companies and AVMs Set to Face More Scrutiny December 5, 2014 Thomas Ressler The pending AMC and AVM rules are designed to protect against the manipulation of data and much more.Read More
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