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Short Takes: White House’s Stock Takes Stock of Mortgage Market / FGMC Expands Out West / CFPB Chief Connects Student Debt to Home Buying / Would Mortgage Bankers Cheat on Regs? / Radian Builds Cash

November 13, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Are mortgage bankers so diabolical that they attempt to find a way around new regulations? Industry consultant Joe Garrett of Garrett, McAuley & Co. thinks so.
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Short Takes: What Makes a Good Mortgage Loan Officer? / Fitch May Want a Loan’s QM Status Spelled Out / Ex-Congressman Takes Credit for FHFA’s MBS Lawsuit / Cordray Won’t Give on QM Deadline / Nationstar Using LSAMs

November 12, 2013
Brandon Ivey, Paul Muolo, and Thomas Ressler
Paul Rozo, who runs PRMG, told us that he is not a big fan of call centers and that every LO in his organization is a “hunter,” a sales person “who relies on referral business and/or handling their own marketing."
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Freedom Mortgage May Hire Up to 500 Loan Officers

November 11, 2013
Paul Muolo
Freedom Mortgage chief Stan Middleman sees a "vacuum" in the mortgage market caused by retreating commercial banks.
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Mortgage Firms Are Cutting Jobs Left and Right, But Loan Officers – So Far – Have Been Spared

November 8, 2013
Paul Muolo
If a residential loan officer isn't doing at least six units per month, should he (or she) be fired?
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What We’re Hearing: Fire All Underperforming Loan Officers / CoreLogic Bolts Due Diligence Sector / Rep. Hensarling Bashes Fannie and Freddie (Again) / MBA’s Stevens Calls GSEs “Insurance Brokers” / NMI Prices IPO

November 8, 2013
Paul Muolo
The mortgage slowdown will separate the men from the boys, the girls from the ladies. It's time to fire all underperforming loan officers, says mortgage consultant David Lykken.
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Nationstar’s Stock Hammered; Firm Will Sell Broker Channel, 1,100 Workers in Danger

November 7, 2013
Brandon Ivey
Traders sold off their positions in Nationstar's stock Thursday. The firm reported lower earnings and will exit the broker channel.
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Short Takes: Did Treasury Impale Itself on the GSEs? / Lykken: LOs Should Produce or Quit / HUD Eases Foreclosure Timelines / Norcom Mortgage Likes Brokers / MSR Declines at M&A

November 7, 2013
George Brooks and Paul Muolo
How many loans per month should a loan officer be closing when times are lean? According to Dave Lykken of Mortgage Banking Solutions, if an LO isn’t closing at least six loans per month, they might want to consider employment elsewhere.
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Short Takes: Mortgage Wholesaler Cuts Heads / Ocwen Hikes Retail LO Hires / Lost in Space: Cerberus Mortgage IPO / Mortgage Apps Take A Breather / MortgageIT Settles With HUD / New Chief for Clayton Holdings

November 6, 2013
George Brooks, Brandon Ivey, and Paul Muolo
An active mortgage wholesaler in California is letting account executives go. Stay tuned for details.
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Nationstar Mortgage Eyeing Change to Broker Channel?

November 5, 2013
Paul Muolo
One mortgage analyst who tracks the company said Nationstar is changing the way it “allocates capital” to certain of its business segments.
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What We’re Hearing: The Death of Mortgage Brokers / Is the Shine Off Nationstar, Ocwen and WAC? / Compliance Fears Feeding Mortgage M&A / Wells Settles with FHFA / Who is Rajan Nair? / (Tim) Howard’s End, Soon to be a Movie?

November 1, 2013
Paul Muolo
SunTrust to mortgage brokers: Drop Dead! Meanwhile, the inside scoop on the somber mood at the annual MBA show.
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