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Glen Messina, PHH’s $7.4 Million CEO

April 21, 2015
Paul Muolo
for 2014, Messina's compensation package included a base salary of $930,436, stock awards of $2.3 million and $4.1 million in “non-equity incentive” pay.
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Short Takes: MBA Backs Changes at CFPB / A Strong Quarter from MGIC / The Weekend the Lights Went out at FHA / S&P Puts Ocwen on Watch List / Executive Bolts Ocwen for Green River

April 21, 2015
Paul Muolo and Thomas Ressler
The MBA is backing changes to how the CFPB functions...
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Short Takes: So Much for the Moratorium on Captives Joining FHLBs / Nonprofits Stand Up for Ocwen / Ocwen Layoffs? / Time to Exit SFR? / CFPB Rule Update

April 16, 2015
Paul Muolo, Thomas Ressler, and Brandon Ivey
Is the bloom off the rose in the single-family home rental market? Some institutional investors are shedding assets.
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Short Takes: Wall Street Firm Eyeing Mortgage Purchase? / SEC Won’t Take Action Against Carrington / Applications Decline Slightly / Relief for ‘Trailer Park’ Loans? / loanDepot Gets New Chief Credit Risk Officer

April 15, 2015
Paul Muolo, Thomas Ressler, and Brandon Ivey
The Wall Street firm hunting for mortgage acquisitions is not a depository like JPMorgan Chase...
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Will TRID Leave Settlement Agents in the Lurch?

April 7, 2015
Thomas Ressler
In the end, the residential originator is ceding less authority to the closing agent...
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Short Takes: How Many Lenders are Offering LPMI? / Sell that House Now! / NPL Market Waiting for a Shot of Fannie / CFPB Publishes Secret Sauce on TRID / MB Gets new Mortgage Chief

April 7, 2015
Paul Muolo and Thomas Ressler
Although Fannie Mae is poised to begin auctioning off some of its nonperforming mortgages, the market continues to be dominated by smaller deals.
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Appointment of Ed Golding to FHA Chief Raises Eyebrows on Capitol Hill

April 6, 2015
George Brooks
Moreover, it is unclear how much enforcement power Edward Golding can wield.
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What We’re Hearing: A Loosening of Credit? Not Really / How Big of an LLPA Cut? / PMIERs? / Ocwen Earnings on Indefinite Hold / High Turnover at NE Lender? / PennyMac Gets Financing from Citi / UWM Says Freddie 3 Percent Down Product Better Than FHA

April 3, 2015
Paul Muolo
As one Ocwen source told us: It’s on “indefinite” hold…
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Reliability of a Lender’s Preapproval a Key Factor in Mortgage Recommendations from Real Estate Agents

April 2, 2015
If preapproval letters from certain lenders are routinely unreliable, real estate agents tend to suggest that homebuyers apply for a mortgage with a different lender, according to new research by Campbell Surveys, based on a national survey sponsored by Inside Mortgage Finance Publications. “Agents are sometimes skeptical of mortgage providers selected without their consultation,” said Tom Popik, research director of Campbell Surveys. Before working with a potential homebuyer, real estate agents largely prefer...
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Short Takes: A Record Production Month for One Lender / Another LLPA Change From Fannie Mae / Trouble for Altisource Residential? / Auction.com Updates Forecast / Former Fannie Chief Mudd Appears in Court

April 1, 2015
Paul Muolo
Former Fannie Mae CEO Daniel Mudd testified Tuesday in a civil trial over losses the GSE suffered on nonprime MBS...
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