Black Knight Elects Former OCC Chief Otting to its Board June 8, 2020 Paul Muolo Otting's appointment is effective July 1. He has not yet been named to serve on any board-centric committees, which carry extra pay. Read More
Despite the Pandemic, Nonbanks Continue to Hire June 5, 2020 Maria Volkova Nonbank mortgage giants such as UWM and Quicken are hiring hundreds of mortgage workers during the pandemic. Commercial banks, not so much...Read More
Short Takes: When Unemployment Feeds Forbearance / More on Freddie’s New CFO / Freedom’s MSR Financing Line / Impac’s New Subsidiary / Moving Back a Convention June 4, 2020 Paul Muolo The new unemployment report from Uncle Sam is out Friday morning. It will not be pretty...Read More
MBA Cautiously Optimistic Annual Convention Will Be Held in Chicago May 29, 2020 Yemeng Yang Conferences, exhibit halls and the sponsorships that go along with them are an important source of revenue for many trade groups...Read More
Short Takes: Waiting on FHA’s Forbearance Policy / Getting It Right / Refi Applications Drop / Purchase Apps Spike in New York / Exec Leaves MUFG for Greystone May 27, 2020 Paul Muolo Fun fact: Refi applications are up 176% from last year.Read More
Mortgage Sector Bucks the Trend, Adds Jobs During Pandemic May 8, 2020 Paul Muolo The mortgage employment reading, while strong, trails the national numbers by one month.Read More
Citadel Files WARN Act Notice, Staff Cuts of at Least 108 May 4, 2020 Paul Muolo Citadel currently is not originating but services a roughly $3.5 billion portfolio. Read More
Short Takes: Mr. Cooper Closes Broker Channel / Job Losses Small / Executive Compensation Disclosure Season / FHFA and CFPB Team Up to Aid Consumers During Pandemic April 28, 2020 Paul Muolo and Yemeng Yang Mr. Cooper will remain as a retail and correspondent lender...Read More
Another COVID-19 Victim: The IRS’ IVES System April 13, 2020 Maria Volkova The IVES system, which many criticize as being antiquated, functions by way of a fax machine... Read More
Layoffs Begin at Non-QM Lenders. Angel Oak, Deephaven Cut Workers March 27, 2020 Brandon Ivey Angel Oak Mortgage Solutions laid off roughly 70% of its 275 employees as non-QM originations have stalled due to economic fallout caused by the coronavirus.Read More
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