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Well Known Mortgage Trainer Barry Habib Resigns from RFC

March 2, 2014
Paul Muolo
In an interview with IMFnews, Habib confirmed his resignation, but declined to say anything further about the company’s future.
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Many Mortgage Originators Were Not Ready for the CFPB’s ATR Rule

February 28, 2014
Thomas Ressler
The ATR survey was sent to 53 mortgage-originating entities, mostly mortgage bankers with some independent mortgage brokers and other originators. No credit unions or savings and loans responded.
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What We’re Hearing: Bill Erbey Does Not Scare Easily / What Does Wells Think of the Ocwen Mess? / At Least Freddie Loves Ocwen / Green Tree May Be Next / More Mortgage Layoffs on the Horizon / Time to Regulate the CFPB?

February 28, 2014
Paul Muolo
What does the seller of the MSRs think about what's going on with the DFS? A spokesman for the nation's largest lender and servicer told IMFnews: "Wells Fargo has not been a party to any discussions with the New York Department of Financial Services regarding Ocwen."
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Heavily Censored IG Memo Cites 'Deficiencies' in FHFA GSE Pay Oversight

February 26, 2014
Charles Wisniowski
In a heavily redacted draft memo released to the public, the Inspector General of FHFA found that while the agency had reviewed and examined the GSEs’ executive compensation, it did not keep close tabs on "non-executive senior professional compensation practices."
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Short Takes: The Ocwen MSR Saga Continues / India Mortgage Workers in Trouble? / Redwood Has Strong Commercial Originations But… / MSR Auctions from MIAC and Prestwick / Stonegate’s MSRs Worth A Lot More

February 26, 2014
Paul Muolo
Of course, Ocwen is hardly alone when it comes to having a large overseas mortgage workforce. Wells Fargo and Nationstar, we’re told, also have decent sized back office operations in India…
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Short Takes: JPM Continues to Slash Mortgage Jobs / Overlays Disappearing? Don’t Bet On It / Loss Mit Mortgage Firm Slapped with CFPB Fine / Lenders One to Hold Annual Pow-Wow with Members / Stonegate Actually Increased Originations

February 25, 2014
Paul Muolo and Thomas Ressler
So, mortgage firms are reducing “overlays” and expanding credit to borrowers in need. Right? Not necessarily.
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What We’re Hearing: Nonbank Servicers Get No Respect / Fannie Mae CEO Doesn’t Fear Nonbanks / Freddie Did It First / Ocwen’s Interesting New Bond Deal / Mortgage Vendor About to Announce a Huge Purchase?

February 21, 2014
Paul Muolo
Although some regulators have anxiety problems with nonbank servicers, Fannie Mae apparently does not. Meanwhile, a large mortgage vendor M&A deal could be revealed late Friday.
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Short Takes: Houlihan Lokey Beefs Up Mortgage M&A Staff / Parent of Warehouse Bank in Play / Essent Doubles MI Policies Written / Luxury Mortgage Sold / Jumbo MBS Investors Benefit From Declining Refis

February 19, 2014
Brandon Ivey and Paul Muolo
Matt Monahan is expected to aid HL as it tries to take advantage of a red hot market for servicing sales. A former deal maker at Cohane Rafferty Securities, he will beef-up HL’s mortgage sales force.
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Short Takes: CFPB in India? Not Likely / BofA Admits Mortgage Layoffs But No Details / Wingspan Not Done Buying / 360 Mortgage Continues to Hire Wholesale Staff / Trade Group Wants Lower FHA Premiums

February 18, 2014
Paul Muolo
Mortgage companies with back-office operations overseas don't have to worry about the CFPB examining their off-shore staff, at least not anytime soon.
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Residential Finance Corp. Sells MSRs to PMAC

February 18, 2014
Paul Muolo
In an email exchange with IMFnews, RFC's Stein confirmed the sale, but declined to provide any details including the size of the MSRs or the purchase price.
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