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What We’re Hearing: Pacific Union Mortgage Cuts Staff / New York Slow Like Molasses on LO Approvals / Jeff Schaefer Joins Cerberus / The Corker-Warner Bill and the TBA Market / FHFA Ready to Hire a CSP Chief?

June 7, 2013
Don't put too much stock in the new government figures on mortgage hiring. Some firms are cutting back like Pacific Union Financial.
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Ex-CFPB Deputy Director Raj Date Launches Firm to Fund Non-QM Mortgages

June 6, 2013
Brandon Ivey
Raj Date's new mortgage firm bills itself as a consumer finance company and is stacked with former high-level employees of the Consumer Financial Protection Bureau.
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Short Takes: Here Come the Mortgage Layoffs? / Genworth Sheds Jobs / Bay Equity Liberalizes Underwriting / Wells Fargo Settles with HUD on REO / CFPB-FDIC Meeting Closed to Media

June 6, 2013
George Brooks, Brandon Ivey, Paul Muolo, and Thomas Ressler
Will the nation's megabanks begin shedding mortgage workers if loan applications don't rise soon?
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Analysts: Rep. Watt’s Nomination to Head FHFA Four Votes Short of Confirmation

June 3, 2013
Charles Wisniowski
Despite the vocal support of progressives, especially advocates of principal reduction of GSE-held loans, Rep. Watt’s nomination to head FHFA is far from a sure thing.
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What We’re Hearing: Is FHA Headhunting Again? / Fear and Loathing in Refi Land / Why Some Mortgage Bankers Won’t Sell / Hedge Fund Buys Almost 12 Percent of PennyMac / Did Someone Purchase $500 Million of GSE Common Stock? / Athas’ New Subp

May 31, 2013
According to industry sources, the FHA recently sent out administrative letters to a handful of residential lenders. Meanwhile, yet another new subprime originator has emerged.
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Short Takes: Robbins Out at Bexil American / Fannie Insider Selling Shares / TMS Gets Ginnie Mae Approval / IMA Offers MSRs for SPM

May 30, 2013
Brandon Ivey and Paul Muolo
John Robbins is out at Bexil American Mortgage. Meanwhile, EverBank readies its second jumbo MBS deal of the year.
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Short Takes: No Confirmation Hearing for Watt, Yet / Should Fidelity be Allowed to Buy LPS? / Short Selling in REITs Falls / $2.3 Billion of Foreclosure Relief Checks and Counting / A Clarification

May 28, 2013
Paul Muolo and Thomas Ressler
The Senate Banking Committee has yet to schedule a confirmation hearing for Mel Watt to head FHFA. Does this lack of action mean anything?
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What We’re Hearing: Is the CFPB Ready to Tweak the QM? / Fools in GSE Love: Ralph Nader and New York Hedge Funds / Banks Cutting Back on MBS / Nationstar Too Suspends Foreclosures / About that Big Flagstar MSR Sale / The New York Times Gets Its Penny

May 24, 2013
Is Ralph Nader in bed with hedge funds over Fannie Mae and Freddie Mac? Mortgage banking can make strange bed fellows.
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Citi Names Private Bank Chief to Head Mortgages, More Jumbos?

May 21, 2013
Paul Muolo
Will CitiMortgage be an even greater player in jumbo lending with its new CEO?
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Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring

May 21, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
New York State may be among the worst in the nation when it comes to approving loan officer applications.
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