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Short Takes: Nice Earnings for a Megabank / BofA and Home-Equity Lending / Some History / The Caliber Termination Fee / New Residential’s 1Q21 Results

April 15, 2021
Paul Muolo

The termination fee on the NRIC-Caliber deal: $25 million.


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CFPB Seeks Input on Use of Artificial Intelligence

April 13, 2021
Lisa Burden

Among the key risks highlighted with the use of AI: explainability, data usage and dynamic updating...


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Bayview Aggregating Jumbos for MBS Issuance

April 9, 2021
Brandon Ivey

Bayview hired former employees of Redwood Trust to boost its jumbo-mortgage aggregation efforts.


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FHFA OIG Finds Conflicts of Interest at Fannie...

April 6, 2021
Dennis Hollier

In 2017, the Inspector General found 57 instances, over a five-year period, of violations of the COI policy in place at the time. The wrongdoers: senior executive officers...


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Short Takes: The Falling Forbearance Rate… / Play Ball / A Warehouse Securitization / A New Entrant to Non-QM Lending / FoAM Buys Benji

April 2, 2021
Paul Muolo and Brandon Ivey

For the week ending March 30, the relief count dropped by 33,000 units. Key point: Forbearance starts fell to their lowest weekly volume (30,000) since the beginning of the pandemic…


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PHH Hires Former Mr. Cooper SVP to Lead Correspondent

March 29, 2021
Brandon Ivey

Mr. Cooper's correspondent lending volume dwarfs PHH's...


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Wells Fargo Settles LO ‘Wage Theft’ Lawsuit

March 26, 2021
Lisa Burden

The plaintiffs charged that Wells did not pay loan officers for non-sales work, such as mandatory meetings, training and coaching sessions...


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Grapevine: Acra Eyes Retail; Free Overnight Borrowings?

March 25, 2021
Paul Muolo
Changes are afoot at Acra Lending, which helped revive the nonprime sector early last decade. On the to-do list: a retail shift and a partnership with ServiceMac.
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Fairway CEO Critical of UWM Broker Contract

March 25, 2021
Maria Volkova

At issue: the freedom of loan brokers under UWM's operating contract...


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CSS Taps Cenlar Executive as New Chief Risk Officer

March 24, 2021
Dennis Hollier

CSS, a joint venture of Fannie Mae and Freddie Mac, has been on something of a hiring spree of late. In 2020, at the direction of the Federal Housing Finance Agency, the company increased the size of the board by three members, the last two of which were picked early this year. In December, CSS also picked a new chief technology officer.


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