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
Short Takes: Quicken Chief Economist: ‘Rates Could Go Lower’ / Oil, Housing, Mortgages? / One Crazy Mortgage Guy is Against Lower FHA Premiums / TPLS Buying MSRs / New PAC Chief for MBA January 8, 2015 Paul Muolo and Brandon Ivey Mortgage lenders are delirious about lower FHA premiums, right? Well, not everyone. Read More
Ellie Mae Founder Sig Anderman Stepping Down as CEO January 6, 2015 Paul Muolo Anderman took Ellie Mae public in 2011. The company now has a market cap north of $1.1 billion.Read More
Short Takes: Ocwen Clocked Again / New Mortgage Blood? / What’s Next for Sig Anderman? / WaMu Lives, Well Sort Of / Auction.com Sees Possible Shift in CRE January 6, 2015 Paul Muolo and Brandon Ivey “There’s a lot of 60- and 70-year old mortgage managers out there.” Read More