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Mortgage Hiring Remains Elusive

March 11, 2024
Paul Muolo
At Jan. 31, mortgage bankers employed 186,000, the lowest reading in a decade.
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Cash Infusion, New Leadership at NYCB

March 7, 2024
Brandon Ivey
New York Community Bancorp has its third CEO in less than two weeks.
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Short Takes: Demand for Purchase Mortgages Increases / Rate Locks Up in February / New CEO at Carrington / Freddie Securitizing RPLs

March 6, 2024
Brandon Ivey
A small decline in interest rates last week helped to increase applications for purchase mortgages.
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NYCB Revises 4Q Financials, CEO Resigns

March 1, 2024
Brandon Ivey
NYCB’s fourth-quarter results went from a $252 million net loss as reported Jan. 31 to a $2.71 billion loss.
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CFPB Officials Scrutinize Appraisal Foundation

February 27, 2024
Shannon Clark
CFPB officials directed critical questions at Appraisal Foundation President David Bunton during a recent hearing by the Federal Financial Institutions Examination Council’s Appraisal Subcommittee.
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Short Takes: Rithm Markets Non-QM MBS / Fannie Mae Hires COO / CrossCountry Launches CashPlus / Interest Rates Projected to Fall Below 6% This Year

February 23, 2024
James Dohnert
Fannie's new operations head comes from Morgan Stanley...
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Short Takes: Morgan Stanley Preps Non-QM MBS / New Reverse Chief for Fairway / NYCB Rebrands / New Mortgage Servicing Software

February 22, 2024
James Dohnert
NYCB takes on the Flagstar name across both brands.
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Academy Purchase Will Add 600 LOs, 200 Branches to Guild’s Empire

February 14, 2024
Paul Muolo
In late 2022, Academy agreed to pay $38.5 million in damages to resolve allegations it violated the False Claims Act.
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Appraisal Organization Working to Increase Diversity

February 14, 2024
Shannon Clark
According to data from the Bureau of Labor Statistics, 94.7% of appraisers are white and 0.6% are Black.
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Short Takes: Applications Down Somewhat / Foreclosures Increase / Fitch Affirms Servicer Ratings at PHH / New CEO at Sagent

February 14, 2024
Brandon Ivey
Demand for both purchase mortgages and refinances declined as interest rates ticked up.
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