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What We’re Hearing: A Mystery (for Now): Franklin Codel’s Dismissal at Wells / A Major Changing of the Guard is Afoot / Rick Glass: Only the Strong Will Survive / Mick, Tell us How You Really Feel About the CFPB / Fannie & Freddie CEOs Seem Content…

November 17, 2017
Paul Muolo
A major changing of the guard is now afoot in the mortgage industry...
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Mortgage Executives on the Move

November 17, 2017
Although mortgage companies are beginning to pare staff in anticipation of a seasonal production downturn, there appears to be a strong thirst for executive talent, as well as top managers looking elsewhere, according to interviews conducted over the past month by Inside Mortgage Trends. “Calls and e-mails from mortgage executives open to considering ‘a change’ usually spike at this time of year,” said Rick Glass, who runs the financial services recruitment firm that bears his name ...
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Ginnie Mae President Candidate David Kittle Tells White House He Doesn’t Want the Job

November 16, 2017
Paul Muolo
Kittle was first approached by the White House nine months ago about the job.
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Academy Mortgage Production EVP Departs

November 16, 2017
Paul Muolo
Nemec oversaw a retail network of 250 branches...
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Short Takes: Another Mortgage Trade Group Chief Announces Retirement / Redfin’s Mortgage Arm Growing Slowly / Annaly Executives Continue to Buy Stock / World Debt and U.S. Mortgage Debt / Resitrader’s Growth

November 16, 2017
Brandon Ivey and Paul Muolo
Annaly executives have purchased $24.3 million worth of company stock in the open market since 2011...
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CFPB Director Richard Cordray Resigns!

November 15, 2017
Thomas Ressler
Upon Cordray’s announcement, Rep. Hensarling declared: “We are long overdue for new leadership at the CFPB, a rogue agency that has done more to hurt consumers than help them…”
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Short Takes: Time for a Hearing on Why There’s No Housing Inventory / The Russians Invest in Mortgages / Angel Oak’s Latest MBS / A Nonprime REIT? / Eight New LOs for Minnesota MB

November 13, 2017
Brandon Ivey and Paul Muolo
Maybe a REIT is the way to go in nonprime...
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What We’re Hearing: The Wilbur Ross Story / Tapping Mortgage Expertise / Enter the Phrase ‘Legal Proceedings’ and See What You Find / David Kittle and the Ginnie Mae Job / Reverse Lender has Record Month / A New Hire for Better Mortgage

November 10, 2017
Paul Muolo
You might say that Wilbur Ross got out of Ocwen while the getting was good...
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Short Takes: $250K a Year in Severance for Impac President / Capital One will Remain in Multifamily / Goldman Wins Fannie Mae Bid / Quicken Gets Some Company at the Top / A New Hire for AmeriFirst

November 9, 2017
Paul Muolo and Thomas Ressler
Although Capital One is exiting single-family lending, the bank will continue to provide “specialized" multifamily financing...
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Capital One Will Exit Mortgage Business but will Keep MSR Portfolio

November 8, 2017
Paul Muolo
Back in February, Capital One’s Senior Director of Home Loans Eric Declercq left the company for a position at loanDepot.
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