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Sen. Brown Says CFPB Chief Mulvaney Must Go, Cites ‘Pay to Play’ Comments

April 26, 2018
Paul Muolo
Sen. Brown said he wants a new CFPB director, one with a moral compass…
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Short Takes: Losses at Privately Held Shops? / Refis Near a 10-Year Low / Will the CFPB Target Rate-Lock Commitment Abuses? / Strong Earnings for Radian but Clayton a Drag / A New Hire for United Wholesale

April 26, 2018
Paul Muolo and Yemeng Yang
Radian's mortgage and real estate services division – which includes due diligence provider The Clayton Group – continues to struggle...
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PHH’s CEOs Took Home (Combined) $5.26 Million in Compensation Last Year

April 25, 2018
Paul Muolo
Crowl’s base pay for 2017 totaled $554,808 while Messina’s came to $485,962.
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Short Takes: Another Milestone for Angel Oak / Going After Bayview? / Mortgage Layoffs at HomeStreet / Genworth Unveils Rate Card Reductions / A Promotion at PRMI

April 25, 2018
Paul Muolo
HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.
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Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager

April 24, 2018
Brandon Ivey and Paul Muolo
A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals.
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PennyMac Executive Chairman Stan Kurland Took Home $9.5M in 2017

April 23, 2018
Paul Muolo
Last year, PennyMac, a publicly traded real estate investment trust, earned $102.5 million in 2017, a 35 percent improvement from the year before.
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What We’re Hearing: A Kinder, Gentler (and Smarter) Nonprime Industry? / Varde Raises $750 Million / Don’t Layer That Risk / When the Worm Turns… / At Ocwen, Former Government Officials Bring Home the Bacon / NSM Gets a New COO

April 20, 2018
Paul Muolo
The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.
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Surprise: Ron Faris to Retire from Ocwen; Former PHH CEO Messina Named His Successor

April 19, 2018
Paul Muolo
Faris is a 27-year veteran of Ocwen, a publicly traded nonbank launched several decades ago by former GE Capital executive Bill Erbey.
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Ditech Taps Bear Stearns/GMAC Veteran Thomas Marano as New CEO

April 19, 2018
Paul Muolo
Marano is no stranger to troubled financial service companies. Until 2008, he was a top executive at Bear Stearns...
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Short Takes: Tom Marano, Ditech’s $5 Million Man? / Ripe for a Major Disruption: The Subservicing Market? / Good News: Applications Rise / Rep. Waters Introduces FHA Bill / Ditech Gets a New COO

April 19, 2018
George Brooks and Paul Muolo
There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.
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