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Short Takes: Nationstar Mails ‘Mr. Cooper’ Notices / B.D. Cooper? / This is Not a Loan Transfer / Messina on PHH Staffing Levels / Alterra Makes National Hire

May 15, 2017
Paul Muolo
Alterra Home Loans hired Tom Middleton as senior vice president of business development and national expansion. He joins the nonbank from On Q Financial...
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What We’re Hearing: Mel Watt: Not on My Watch / Sen. Corker’s $10B Experiment with the People’s Money / Sen. Elizabeth Warren, Arrogant? / Will Pershing Square and Fairholme Win the Bet? / Wells Fargo Readies Jumbo MBS / Ocwen Needs More Time

May 12, 2017
Paul Muolo
Several trade groups, investors and analysts quickly issued their take on Watt’s comments, but there were some notables missing in action: Pershing Square and Fairholme.
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Short Takes: Certain Trade Groups Applaud Watt’s Move / It’s Not ‘Recap and Release’ / GSE Share Price Hardly Budges / Ocwen is a ‘Market Perform’ / Amy Brandt to Head Vendor

May 11, 2017
Paul Muolo
Watt’s comments on building capital did not move the share price of Fannie/Freddie common very much...
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CEO of Finance of America’s ‘Fix & Flip’ Unit Departs a Few Months After Company is Bought

May 10, 2017
Paul Muolo
The fix-and-flip market has been red hot the past few years…
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Short Takes: Nonprime Lender Angel Oak Hires Correspondent Chief from Freedom Mortgage / A Nice Pay Check if you Can Get Fired / Can the Senate Banking Committee Count? / A QM Exemption? / Former MI, GSE Exec Gets Top Post at HUD

May 10, 2017
Paul Muolo and Thomas Ressler
PHH's new CEO, Robert Crowl, has a termination package that could be worth $4.54 million…
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Short Takes: Pence Economist and GSE Expert Calabria Cancels Speech / Former OCC Chief Eugene Ludwig Pinch Hits / FHFA Notes Chattel Risks / A Sweet Deal for Redwood / Irving Mayor Gets HUD Post

May 9, 2017
Paul Muolo
The FHFA wants the GSEs to provide liquidity to the trailer home market but there are risks...
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Former Fannie Mae, MI Official Adolfo Marzol Named Senior Advisor to HUD Secretary

May 9, 2017
Paul Muolo
During his long career in mortgage finance, Marzol held senior posts at Fannie Mae where he served as executive vice president and chief credit officer...
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LO Compensation Differs For Retail, Consumer Direct

May 8, 2017
Brandon Ivey
Consumer-direct LOs had a higher average base compensation than retail LOs but received much lower incentive payments.
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The BLS Numbers: Mortgage Bankers Trim Head Count, Loan Brokers Hire

May 8, 2017
Paul Muolo
AmeriHome Mortgage, a larger correspondent buyer of loans, recently said it’s hiring internal support positions.
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Short Takes: KBW Questions the Value of CRTs for Fannie and Freddie / A Price Target of $1 a Share / Cardinal Enters Wholesale Arena / Stevens Weighs in on GSE Speculators / Greystone’s New Hire

May 8, 2017
Paul Muolo
Some in the industry believe the GSE common shares are essentially worthless with the junior preferred falling into the category of being a speculative bet.
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