Short Takes: GSE Pilot Hearing Postponed / An Opportunity to Gather Intelligence? / Freddie's Qualification Tool for Self-Employed Borrowers / GSE Duty-to-Serve Updates / New Hires for ComplianceEase, Element Funding October 14, 2018 Paul Muolo and Carisa Chappell The Senate Banking Committee's review of GSE pilot programs will have to wait...Read More
Mortgage-Hungry Insurance Conglomerate Hits the Pause Button on M&A as Grand Jury Convenes October 12, 2018 Paul Muolo Eli Global’s mini-mortgage empire includes lender/servicer Castle & Cooke, wholesaler Western Bancorp, Prime Mortgage and a warehouse lending division called CapLoc…Read More
What We’re Hearing: A Cyclical Business / What Will Treasury’s Craig Phillips Say about the GSEs? / Advice From loanDepot’s Anthony Hsieh / Unsolicited Resumes from Production Employees / Jim Malloy Departs Impac Mortgage After 15 Years / PennyMac’s First October 12, 2018 Paul Muolo Anthony Hsieh's advice for the mortgage industry: Start selling...Read More
Short Takes: Why Stocks Need to Come Down / Unwinding the Massive Tax Cuts / President Hickenlooper? / Capital Alpha Weighs In / Behind the Scenes at Wells Fargo / New Hires for DIMONT October 11, 2018 Paul Muolo and Brandon Ivey The massive tax cuts the president and GOP bestowed on the nation late last year have spurred economic progress. It’s hard to argue with that, but...Read More
Flagstar Hires New American Exec as its National Production Manager October 10, 2018 Paul Muolo The SVP/national production manager slot is a new position at Flagstar…Read More
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 Paul Muolo and Brandon Ivey 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 Paul Muolo and Brandon Ivey One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...Read More
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