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Short Takes: Impac Ramps Up, Quicken Rocks, NMI Clears MI Hurdle, Apps Rise

January 30, 2013
Paul Muolo and Thomas Ressler
Impac Mortgage, one of the fastest growing funders among the top 100, has hired Mike Casey and Matthew Dismore to bolster its correspondent lending division.
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Promontory Financial Has Massive Loan Reviewer Layoff in Denver

January 30, 2013
Paul Muolo
Promontory Financial this week laid off between 750 and 1,000 workers in the Denver area, many of them working on loan reviews tied to delinquent and foreclosed mortgages, industry sources told Inside Mortgage Finance.
Read More

CFPB Hires Former Fannie Executive to Lead Rule Implementation

January 30, 2013
Paul Muolo
The Consumer Financial Protection Bureau has hired Lisa M. Applegate as head of mortgage rule implementation, an official told Inside the CFPB.
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What We’re Hearing: The Improving Fate of Fannie Mae

January 30, 2013
Paul Muolo
Before we get to the main event (the ‘Qualified Mortgage’ rule), it’s time to consider the improving fate of Fannie Mae, which is poised to have a few coming quarters of blow-out earnings – which will go directly into the coffers of the U.S. Treasury Department, much to the delight of the newly nominated secretary Jack Lew.
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Bert Ely: White House Should Keep DeMarco as Head of FHFA

January 30, 2013
Charles Wisniowski
The Obama administration may want to think twice before moving ahead with reported plans to replace Edward DeMarco, the Federal Housing Finance Agency’s acting director, says a long time industry observer.
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Mortgage Closings, the ‘Cliff,’ a Nonprime Revival?

January 30, 2013
Paul Muolo
Outside the weather’s frightful – and inside the loan closings are piling up like snow drifts in Northern Minnesota.
Read More

National Appraisal Management Firm Closes

January 30, 2013
Paul Muolo
ES Appraisal Services, Jacksonville, FL, has closed its doors, the second national appraisal management company to have gone bust in the past year. It also uses the trade name eValuation Solutions LLC.
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California Bank Looking for New Mortgage Warehouse Chief

January 30, 2013
Pacific Premier Bank, Costa Mesa, CA, is looking for a new warehouse lending executive to replace Bill Owen, who departed the company a few weeks ago.
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Happy New Year? Get ready for pending CFPB reguations

January 30, 2013
Paul Muolo
Happy New Year? It is if you’re a mortgage attorney charging billable hours to lenders that are trying to make sense of an array of pending rules coming out of the Consumer Financial Protection Bureau and other agencies.
Read More

Carrington Hires Former Bear Stearns Official Whalen

January 29, 2013
Carrington Holding Co., which has a growing presence in residential finance, has hired Wall Street veteran Christopher Whalen as Executive Vice President in charge of its investment banking operation.
Read More
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