Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton January 17, 2019 Brandon Ivey and Paul Muolo The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...Read More
Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending January 16, 2019 Paul Muolo Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.Read More
Short Takes: Worrying About What Mark Calabria Might Do / Ever Seated? / A Price War Brewing in Non-QM? / Tim Anderson’s Blockchain Job / Freddie Gets a New General Counsel January 15, 2019 Dennis Hollier and Paul Muolo We understand a bit of a price war may be brewing in the non-QM market... Read More
What Michael Bright’s Resignation Might Mean for GSE Reform January 11, 2019 Paul Muolo The odds of GSE “recap and release” becoming a reality just went down…Read More
What We're Hearing: The Otting Era Commences / Waiting on the Senate (It Didn’t Work for Michael Bright) / 11 Days In and All Shook Up / HFSC Chair Worries about Furloughed Workers and Delinquencies / Keep an Eye on Jan. 15 / The Milken Institute Weighs i January 11, 2019 Paul Muolo We’re just 11 days into the new year and already things are getting interesting in the mortgage industry... Read More
Acting Ginnie Mae President Michael Bright Bolts Agency for SFIG January 10, 2019 Paul Muolo Bright will earn significantly more working for SFIG than at Ginnie, easily doubling his salary and then some...Read More
Short Takes: Who Is Maren Kasper? / Not Shy / Headed to the White House? / GSE ‘Recap and Release’ Just Got Knee-Capped / IMA Offers Bulk MSR Package January 10, 2019 Paul Muolo With Michael Bright's departure, GSE "recap and release" just got hurt...Read More
Short Takes: UWM Removes LLPAs on Certain Loans / New Mortgage Applications Come Roaring Back / Tempering Optimism with a Government Shutdown / Seterus’ Leslie Peeler? / Complaints Registered January 9, 2019 Paul Muolo Four years ago, Leslie Peeler, the Fannie Mae senior vice president in charge of the GSE’s servicing decisions, left the mortgage giant for Seterus. Read More
Market Shocker: Ginnie Mae Interim President Michael Bright Quits January 9, 2019 Paul Muolo Bright was first nominated to the post by President Trump in May of last year. He had been serving as an EVP at Ginnie.Read More
BB&T Quietly Cuts Mortgage Staff Including Correspondent Manager January 8, 2019 Paul Muolo The RIFs at BB&T started in December and more are expected...Read More
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