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Movement Mortgage Cuts 75 Jobs Due to ‘Operations Improvement’

February 20, 2018
Paul Muolo
Movement locked rates on $1.1 billion of mortgages in January, an 11 percent increase from the same month a year ago. It called the improvement an "indicator of future growth in February and March.”
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HFSC Chairman Hensarling Demands Explanation from Watt on Housing Trust Fund Payments

February 20, 2018
Carisa Chappell
After a long hiatus, in 2017 Fannie and Freddie reinstated their first contribution to the National Housing Trust Fund, which amounted to roughly $186 million. Fannie plans to contribute $239 million to the trust funds this quarter, Freddie $114 million.
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As Appraiser Shortage Worsens, Standards are Reduced

February 16, 2018
Brandon Ivey
Under the new AQB standards, only an associate’s degree in a field related to the appraisal industry will be required…
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What We’re Hearing: Death, Taxes and the GSEs / Sweet Tax Cows / Not a Peep Out of Pershing Square and Fairholme / The Wrath of Jeb / MSR Market Heats Up / A Huge Profit for Annaly / Citizens Bank Gets a New Mortgage Chief

February 16, 2018
Paul Muolo
Suffice to say, Fannie and Freddie are two cash cows that only a crazy person would eliminate, unless that crazy person doesn’t like money…
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Short Takes: Is Mel Watt Dropping Hints? / A Utility Model for Fannie and Freddie? / Refi Applications on the Rise (Ever So Slightly) / No (Permanent) Ginnie Prez, No FHA Chief / Uber Executive’s Foray Into Mortgages

February 15, 2018
Brandon Ivey and Paul Muolo
Joshua Rosner, managing director of Graham Fisher & Co., states: “This sounds like the early stages of a utility model..."
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Quicken Loses Another Top Executive, This Time EVP Pete Carroll

February 14, 2018
Paul Muolo
At Quicken, Carroll served as executive vice president where he helped develop the lender’s positions on key policy issues.
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Short Takes: Arch has Some ‘Fairly Well Developed’ Plans / Auditing the FHA MMIF / New Residential May Become a Player in Ginnie MSRs / Consumer Advocates Not Happy / Top VA Official Departs Agency for PenFed

February 14, 2018
Brandon Ivey, Paul Muolo, and Thomas Ressler
Look for New Residential to become a buyer of Ginnie Mae servicing packages...
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Short Takes: The Trump Budget and the GSEs (Not So Good) / No More GSE Money for Affordable Housing / Treasury Wants to ‘Right Size’ Federal Housing Programs / Cuts in Store for the CFPB? / Arch Posts a Strong 4Q17 Profit

February 13, 2018
Paul Muolo
The Treasury Department's goal is to right-size federal housing programs...
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Ocwen EVP of Lending Otto Kumbar Departs – and with a Nice Severance Package

February 12, 2018
Paul Muolo
Kumbar will be paid $1.25 million for leaving Ocwen, a package that also includes a relocation reimbursement…
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Radian Unveils Reorg On How it Sells MI and Other Products. Industry Vet David Kittle Comes on Board

February 12, 2018
Paul Muolo
Under the new sales approach, the RMs will head divisions that sell the entire suite of Radian products...
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