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What We're Hearing: Industry Facing 40 Percent Layoffs? / Movement Mortgage Trims Staff / Mel Watt to the Rescue? / 125 Percent LTVs are Back, No Not HARP / HUD Auctions Off More than $3 Billion of NPLs / Hensarling Schedules Markup of GSE Bill

July 19, 2013
Fear and loathing in the mortgage job market? Movement Mortgage has let several mortgage workers go. Can looser underwriting standards save the day?
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Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPB’s Data Collection Efforts / Bad Debt Up in Value

July 18, 2013
Paul Muolo, Thomas Ressler, Brandon Ivey, and Charles Wisniowski
Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...
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Short Takes: Cordray Confirmed as CFPB Chief? / LPS Looked at Buying Mortgage Cadence / Joe Garrett Tells Lenders to Cut Now / Allonhill Starts Hiring / Fannie Says Market Could Move Toward ARMs

July 16, 2013
Paul Muolo and Thomas Ressler
Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.
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Senate Banking Committee Expected to Clear Watt’s FHFA Nomination, But…

July 12, 2013
Charles Wisniowski
The Senate Banking Committee is expected to advance Rep. Watt’s nomination to the Senate floor, strictly along party lines.
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What We’re Hearing: A $30 Billion MSR Deal Hits the Market / Wells Amps Up the Value of its MSRs / Subprime: Lots of Interest, Not Many Lenders / Hensarling Bill Will Be a Raisin Soon / Jumbo Whole Loans Fail to Trade

July 12, 2013
Hedge funds continue to salivate over mortgage servicing rights. Meanwhile, the Hensarling GSE bill goes down like a Led Zeppelin.
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Carrington Mortgage EVP Rick Sharga Departs for Auction.com

July 11, 2013
Paul Muolo
Over the years Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee.
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Short Takes: How Much Does Your Mortgage CEO Make? / Georgia Lender Blows Up? / The Fear of Eminent Domain Lives On / Total Mortgage Services Plans to Buy a New HQ Building

July 8, 2013
Paul Muolo and George Brooks
New report sheds light on how much nonbank mortgage workers earn.
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FHFA IG Steve Linick May be Departing for State Department Post

July 1, 2013
Charles Wisniowski
A former federal prosecutor, Linick is credited with creating the agency’s Office of Inspector General from the ground up.
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Short Takes: Fed Meets Tuesday, Fate of MSRs Hangs in the Balance? / Mortgage Investors Corp. Will Pay Record Fine to FTC / The Tea Party and GSE Reform / Mortgage Network Continues Expansion / MGIC Looking Up?

July 1, 2013
Paul Muolo and George Brooks
On Tuesday the Fed will hold an open meeting to discuss final rule-making tied to the Basel III accords, which affects the value of mortgage servicing rights.
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What We’re Hearing: Cerberus Buys a Mortgage Firm? / Fear and More Fear for Jumbo Issuers / Freedom Sizes its Broker Network at 2,500 Strong / Mortgage Insurers Raise $8 Billion in Capital / The Mel Watt Nomination Saga Continues

June 28, 2013
It appears that Cerberus is going down the mortgage aisle one more time. Let's hope it doesn't end like GMAC. Meanwhile, jumbo MBS market seizes up, temporarily.
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