Short Takes: Michael Bright, the Next FHFA Director? / Waiting on Senate Confirmation (Still) / A Former GSE Exec and The Play Set Scandal / Sears and Fairholme / HSBC Settles with DOJ / A New Hire at CMG Financial October 10, 2018 Brandon Ivey and Paul Muolo HSBC will pay $765 million to settle charges brought by the Department of Justice...Read More
Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO October 9, 2018 Paul Muolo The new interim CEO was an EVP at PNC Financial where he led the real estate division and was a founding partner and managing director of BlackRock...Read More
Short Takes: Castle & Cooke? / The Fannie Mae Connection / Frater, a Good Choice to Head Fannie / LendingHome Surpasses the $3B Mark in FnF Production / NDA Hires Clayton Executive October 9, 2018 Paul Muolo Fix-and-flip lender LendingHome, San Francisco, has surpassed the $3 billion market in originations... Read More
Mortgage Brokerage Firms Slash Jobs. More Carnage to Come? October 8, 2018 Paul Muolo With originations expected to fall, lenders of all different stripes are carefully examining their staffing needs…Read More
Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor October 8, 2018 Brandon Ivey and Paul Muolo One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...Read More
Fannie Names Former Berkshire Hathaway Executive Hugh Frater Interim CEO October 8, 2018 Paul Muolo Frater was also executive vice president at PNC Financial Services...Read More
Former Redwood CIO Joins Shared-Appreciation Firm, Will Develop Securitization Outlet October 4, 2018 Brandon Ivey EquiFi plans to license its shared equity product to other originators…Read More
Eli Global Founder the Subject of Federal Subpoenas. A Mortgage M&A Deal was in Progress October 4, 2018 Paul Muolo As press time, Lindberg’s spokesman, Chuck Norman of S&A Communications, had not returned several emails and telephone calls regarding the subpoenas.Read More
Short Takes: Freddie the Final Takeout on SFR Deal / Helping Reven / Gateway Mortgage Recruiting / Sen. Warren Questions Mulvaney’s Role in Fundraiser / A Promotion at Fannie Mae October 4, 2018 Paul Muolo and Yemeng Yang Gateway Mortgage of Oklahoma is in a hiring mode these days... Read More
CFPB’s Mulvaney Says Reorg Will Continue Despite Criticism of Fair Lending Chief October 3, 2018 Yemeng Yang CFPB Director Mulvaney: “I will not be undoing the changes. I recognize this is not the result that some of you may have wanted. But I stand by my decision and we will proceed accordingly.”Read More
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