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Mortgage LO Overtime Pay Hangs in the Balance as Supreme Court Hears Arguments

December 4, 2014
Thomas Ressler
The MBA’s legal counsel tried to begin by focusing on the dividing line between interpretative rules and legislative rules, but soon found herself having to defend the trade group’s support for the DOL’s original 2006 position.
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Richey May: Two-Thirds of Mortgage Firms Added Staff in 3Q14

December 4, 2014
Paul Muolo
The fourth quarter of 2014 is turning out to be decent in terms of applications and pipelines.
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Short Takes: Origination Profits Down 6 Percent / Black Knight: Foreclosure Inventory Continues to Head South / Underwater GSE Inventory / Purchase-Money Stand-Outs According to IMF / UWM Names Chief Digital Officer

December 4, 2014
Paul Muolo
If you’re looking to buy a foreclosure for a quick “flip,” you might want to act quickly. Inventory is shrinking rapidly...
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Short Takes: Mortgage Job Outlook for 2015: Go With the Nonbanks / Thanksgiving Gives Mortgage Business Indigestion / Warehouse Execs Flock to Trade Show / Questions Raised on New Warehouse Firm / HUD Finally Gets #2

December 3, 2014
Paul Muolo and George Brooks
We’ve heard scattered reports about a new nonbank warehouse provider that is offering extremely cheap financing while asking for large fee payments upfront...
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FHFA COO Acquitted of Charges He Threatened Former FHFA Director

November 26, 2014
The case against the Federal Housing Finance Agency’s chief operating officer ended last week after a Washington, DC, Superior Court judge found Richard Hornsby not guilty of making violent threats against former FHFA Acting Director Edward DeMarco.Judge Juliet McKenna acquitted Hornsby of two misdemeanor charges of attempted threats to do bodily harm to DeMarco.
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Short Takes: So, Where’s the Housing Bubble? / Altisource Buys Owners.com / A $1 Billion Quarter for FGMC / Delinquencies at Freddie Continue to Fall

November 25, 2014
Paul Muolo
What exactly is Owners.com? Launched in 1996, it’s supposedly the largest directory of homes for sale by owners. In other words, they don’t use traditional Realtors…
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What We’re Hearing: Higher FHA Costs, Not Lower / The GOP in Favor of This Tax Hike? / How About Regulating Nonbank Lenders? / Cyprus? Wilbur Ross Really is a Bottom Fisher / Ocwen Isn’t the Only Servicer That Loves India

November 21, 2014
Paul Muolo
There’s a growing fear that the CSBS might move to increase capital standards for nonbank originators as well.
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Short Takes: Stop Guessing on Lawsky Already / Share Price of Fannie and Freddie Common Soars / Foreclosures on the Rise / Essent Sells More Stock

November 20, 2014
Paul Muolo and Brandon Ivey
A GSE bill? Since Congress and President Obama have such a strong track record of working together on legislation we know how that’s going to turn out…
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Short Takes: Any G-Fee News? No / Keeping an Eye on MSR Sales / Why Realtors Will Live Forever / California Home Sales Nothing Special / Jeb Will be Back, Hensarling At Least

November 19, 2014
Paul Muolo, George Brooks, and Charles Wisniowski
After a servicing sale closes, the GSEs must monitor each transaction to make sure the transfer of receivables took place in a timely manner and more…
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Short Takes: Obama Won’t Give Up on Killing the GSEs / Redwood Sells Debt / More Ocwen Customer Complaints / Carrington Bolts ARMs / The Return of Mike Baldwin

November 18, 2014
Paul Muolo and Brandon Ivey
Republicans have never been big fans of the GSEs and there’s plenty of Democrats who aren’t so sure about the government “guaranty” as well...
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