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When it Comes to Firing CFPB Director Cordray, Maybe the Trump Administration is Going About it All Wrong…

February 17, 2017
Thomas Ressler
“If Cordray were engaged in malfeasance, inefficiency or neglect of duty, don’t you think the Obama administration would have done something about that?” asked one legal scholar.
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What We’re Hearing: Huge GSE Profits, Don’t Get Used to It / The Perfect (Earnings) Storm / A Ginnie Solution for the GSEs? / PHH’s New Strategy / Aide to HUD Nominee Ben Carson Fired for Writings Critical of Trump

February 17, 2017
Paul Muolo
One former Fannie Mae official told us that stellar profits posted by the two are “just about done.”
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Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender

February 16, 2017
Paul Muolo and Carisa Chappell
While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...
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Short Takes: Branch Manager Departures at loanDepot / Nationstar a Candidate for PHH MSRs? / Delinquencies Spike in Some Categories / Still in Love with Ocwen: Bill Erbey / Coming Soon: Warehouse Ranking

February 15, 2017
Paul Muolo
Bill Erbey, who was forced out by financial regulators two-plus years ago, controls 16.8 percent of Ocwen Financial...
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Short Takes: Mark Calabria, a Player in GSE Reform? / Don’t Worry, Commercial Banks Will Fill the Void / What’s an ‘Excess Reserve’ To Do? / Fed Governor Tarullo Calls it Quits

February 13, 2017
Paul Muolo
The Cato Institute is a conservative think tank and a quick read of Calabria’s blog makes it sound like he favors getting the government out of the MBS guaranty business...
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Radian Picks Another Lending Executive as its New CEO: Rick Thornberry

February 9, 2017
Paul Muolo
Spencer Stuart, headhunting firm, aided the MI in its search for a new CEO. A few months back former Freddie Mac executive Bruce Witherell was approached about the job, but passed.
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BlackRock Executive Craig Phillips Could Play a Role in GSE Reform

February 9, 2017
Paul Muolo
Phillips, managing director of financial markets/client solutions at BlackRock, is well known in MBS circles for his early days at First Boston…
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Mortgage Hiring Increased in December, but Several Lenders are Taking a ‘Wait and See’ Approach

February 8, 2017
Paul Muolo
CMG Mortgage founder and CEO Chris George said that when it comes to hiring he's mostly in a "holding pattern" right now, with exceptions...
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Short Takes: Fix & Flip Lender Targets Multifamily Sector / Branching Out Into Florida / No Word on Carson and His Deputy / New Rez Tests ABS Market / Fed General Counsel Alvarez Announces Retirement

February 8, 2017
Paul Muolo and Brandon Ivey
The full Senate could vote on the Ben Carson nomination next week...
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Short Takes: Blackstone’s Tentacles / MBA Sides with PHH in CFPB Case / Banks Might Ease GSE Standards / The ‘Silver Bullet’ to Replace LOs with Machines / Stonegate Hires SunTrust Executive

February 7, 2017
Paul Muolo and Thomas Ressler
Correspondent lending accounts for 21.4 percent of Stearns’ total origination volume, based on fourth quarter figures from Inside Mortgage Finance…
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