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W.J. Bradley and RPM Mortgage Settle Suit Over Alleged Theft of Customer Information, But No Details Disclosed

July 30, 2015
W.J. Bradley Mortgage recently settled a civil suit filed against one of its competitors, RPM Mortgage, regarding the alleged theft of customer loan files by a top-ranked and recruited loan officer. In a statement, RPM said: “We are pleased that the litigation with W.J. Bradley has been settled. As always, the confidentiality of client information is of paramount importance to RPM.” W.J. Bradley, the original plaintiff in the matter, would not comment...
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David Lykken Leaving Mortgage Banking Solutions After Eight Years

July 29, 2015
Paul Muolo
Lykken said he wants to transform "one company at a time."
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Short Takes: CitiMortgage Posts Highest HAMP Denial Rate / Luxor Cuts Stake in Altisource / CFPB Cracking Down on Timeshares? / Want to Buy a House? Move to the Midwest / Ty Kern Lands at Home Point

July 29, 2015
Brandon Ivey and Paul Muolo
“The question was a surprise to many investors and resulted in clients questioning whether a CFPB crackdown in the timeshare market was ahead,” writes Compass Point analyst Isaac Boltansky…
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Former GMAC Mortgage President Abreu Launches Retail/Wholesale Lender

July 28, 2015
Paul Muolo
Abreu ran GMAC from October 2009 to 2013. He then went to work for Ellington Management Group where he headed originations.
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Short Takes: Trump Mortgage an Operational ‘Train Wreck’? / Parkside Launches Non-QM Loan for Investors / What Would ‘Crush’ Housing? / mREIT Posts Strong Earnings

July 28, 2015
Brandon Ivey, Paul Muolo, and Sherry Muolo
Operational problems at Trump Financial? It's all history now...
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Short Takes: What, Donald Trump Had a Mortgage Company? / GradeMyBank? / A Lack of Risk Retention by JPM on New Jumbo Deal / Fix or Flip? The Answer: Flip / Earnings Gain for CoreLogic

July 27, 2015
Brandon Ivey, Paul Muolo, and Sherry Muolo
Donald Trump, a mortgage broker too?
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What We’re Hearing: CALCAP Working on $100 Million Fund for Non-Agency / The Changing Nature of ‘Fix and Flip’ / Altisource Lures Away Ginnie’s Man on the Hill / Not So Fast on Those GSE Raises / Improving Delinquencies Kill Another Business

July 24, 2015
Paul Muolo
Serious money continues to plow into non-agency mortgage lending. Meanwhile, Altisource hires Ginnie Mae's man on the hill...
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Short Takes: Some Details on LPMI Volume and Discounting / Happy Birthday to the CFPB and Dodd-Frank? / Do Mortgage Firms Need a Chief Risk Officer? / Annaly Gets a New CEO

July 21, 2015
Paul Muolo and Thomas Ressler
Happy birthday to the CFPB? Well, it all depends on which side of the mortgage table you sit on...
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Short Takes: More Wholesalers Entering the Market? / Expanding from VA to FL / Cerberus Unit Readies ‘Seasoned’ MBS / When on PHH? / W.J. Bradley Exec Jumps Ship for Home Point

July 20, 2015
Brandon Ivey and Paul Muolo
A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...
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What We’re Hearing: Is Non-QM Lending a Bust? / The Pathos of Ethos / TRID May Delay Loan Closings by How Many Days? / Telling the Truth on Loan Closings / A Record Year, So Far, for United Wholesale / Little League 1, the CFPB 0

July 17, 2015
Paul Muolo
During the first six months of 2015 UWM funded $6.78 billion. “It was our best six months ever,” CEO Mat Ishbia told IMFnews...
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