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What We’re Hearing: The Federal Reserve Worries (Big Time) About Nonbank Mortgage Firms / Junk Status / The DeMarco-Bright Plan Critiqued / Finally, a Sensible and Fair Proposal on GSE Reform / Layoffs at Guaranteed Rate

March 9, 2018
Paul Muolo
The Federal Reserve has a name for the credit quality of nonbanks: junk.
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Embrace Home Loans Hires a Deephaven Capital Markets VP to Head Product Innovation

March 8, 2018
Brandon Ivey
Parkes Dibble was previously vice president of capital markets...
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Senate Advances Dodd-Frank Reform Legislation, Bill Would Aid LOs Who Switch Jobs

March 8, 2018
Yemeng Yang
The bill would make it easier for loan officers to continue working if they leave a bank to go to a nonbank or leave a state-licensed shop in one state to go to a new state.
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Short Takes: Risk Sharing Denting GSE Profits? / Time to Put on the Investment Banking Hat? / Someone at HUD Hates Semi-Colons / Now, More than Ever, it Might be Time for All Concerned at HUD to Take the ‘Niceness Pledge’ / Invitation Homes Executive Gets

March 8, 2018
Paul Muolo
Whatever happened to the “niceness” pledge that Carson wanted everyone there to take? Certainly, if there’s a need for niceness at HUD, it might be now…
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Consumer Advocacy Group Calls for Congressional Investigation into Mulvaney

March 7, 2018
Yemeng Yang
John Czwartacki, senior advisor to Mulvaney, said the email from former payday lending executive Janet Lewis Matricciani was “unsolicited.”
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Short Takes: Gary Cohn’s Resignation and the GSEs / Don’t Assume Anything / Fannie Mae’s ‘10 Percent Moment’ / Okay, Now’s the Time / SolomonEdwards Names Ranieri to its Board

March 7, 2018
Paul Muolo
GSE shareholder rights group Investor Unite was quick to pounce on the Pollock blog...
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Promontory MortgagePath Snags Former Top CFPB Attorney to Head Compliance Department

March 6, 2018
Paul Muolo
PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…
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Short Takes: PIMCO Shows a Strong Interest in RPLs / A Tough Profit Picture for 1Q18? / Thinning the LO Herd? / Texas Capital Weighs In / Stearns Hires Former Caliber Executive

March 6, 2018
Paul Muolo
Texas Capital: “Nonbank competitors may have a pricing advantage as they are not subject to the same capital maintenance requirements..."
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Nationstar Plans to Cut Ties to Philippine Vendors, Cites Political and Economic Risk

March 5, 2018
Paul Muolo
India and the Philippines “are subject to relatively higher degrees of political and social instability and may lack the infrastructure to withstand political unrest or natural disasters,” Nationstar said.
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Short Takes: Nationstar’s Other Suitor? / Break it Into Three / Ex-Stearns CEO Brian Hale Resurfaces / Too Many Vacancies, Not Enough Interested Individuals? / NewDay Hires SVP

March 5, 2018
Paul Muolo
It’s believed that one of the “pieces” the new owner planned to spin off was Xome, a real estate vendor that works with consumers…
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