Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization October 17, 2017 Paul Muolo With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms... Read More
CFPB Enforcement Chief Anthony Alexis to Depart October 16, 2017 Thomas Ressler Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…Read More
Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually October 16, 2017 Paul Muolo A large nonbank is about to enter the second-lien market...Read More
Short Takes: Ginnie Mae Worried about Certain Nonbanks? / The David Kittle Nomination? / KKR Closes Fund to New Investors / SFR Hits $33 Billion / A New Hire for Grandbridge October 11, 2017 Paul Muolo There’s still no word from the White House on when it will nominate industry executive David Kittle to be the next president of Ginnie Mae...Read More
The Equifax Data Breach – What it Might Mean for the Mortgage Industry. Warehouse Implications? October 10, 2017 Paul Muolo Overall, hackers stole financial information on roughly 140 million American consumers…Read More
Short Takes: CIT Will Take Hefty Hit on Sale of Financial Freedom / OneWest’s Roots / Fannie and Freddie Affected by Deloitte Hack? / ALTA Unveils Registry / A New Hire for Platinum October 10, 2017 Paul Muolo and Brandon Ivey CIT Group will take a charge of up to $50 million on the sale of Financial Freedom...Read More
Mortgage Brokers Added 1,400 Jobs in August, Lenders Not so Much October 9, 2017 Paul Muolo Steve Abreu, founder and CEO of Newfi, said the privately held nonbank is taking resumes from wholesale representatives and underwriters.Read More
Short Takes: Treasury Working on GSE Ideas? / Will Trump Get Involved Directly? / Sauri Launches FinKube / Too Much Overhead, Maybe / A New Hire for Endeavor October 9, 2017 Paul Muolo With Trump being a real estate developer – though that part of his career is on hold right now – it will be interesting to see if he takes a hands-on approach to reforming the GSEs...Read More
What We’re Hearing: A Blowout Quarter for Freddie? / Pulling the Zero Capital Lever in Denver? / Mark Calabria for FHFA Director? / RIP: the Savings and Loan Industry / A New Idea: Crowd Funding to Help Delinquent Borrowers? / A New Hire for BSI October 6, 2017 Paul Muolo In a new report, Cowen gives the early lead on the FHFA job to Mark Calabria, chief economist to Vice President Mike Pence...Read More
Ocwen Financial Hires Wall Street Veteran Chris Whalen October 5, 2017 Paul Muolo Early last year Whalen predicted the nation’s four largest commercial banks might exit the business of residential lending and servicing… Read More
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