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With Mortgage M&A On the Rise, Loan Officers Wonder: Should I Stay or Should I Go?

October 30, 2014
Paul Muolo
Once word leaks out that a mortgage company is a takeover target, many LOs start weighing their options, contacting competitors who tried to recruit them in the past.
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Pacific Union Financial Consolidates Wholesale Units, Some Layoffs Ensue

October 29, 2014
Paul Muolo
Roughly a month ago, ClearVision founder Jon Maddox announced his retirement to Pacific Union senior management.
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Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle

October 29, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…
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Short Takes: Try Convincing Commercial Banks About Buyback Relief / Fannie Not So Bullish / Simpler Comp Plans for LOs? / Wells Pays HECM Fine / New Correspondent Chief for Nationstar

October 27, 2014
Paul Muolo
Industry consultant Joe Garrett notes that one of his clients (back in 2003) had 52 loan officers and “about 52 comp plans”…
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Wingspan Gets ‘Multi-Million’ Capital Infusion, Horne Out as President

October 24, 2014
Paul Muolo
As part of the transaction, company founder and president Steven Horne will step down as president and chief executive officer, but will remain as a senior advisor.
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What We’re Hearing: More Questions About Wingspan but No Answers / Are Specialty Servicers Toast? / Should Ocwen Move Its India Workers to Upstate New York? / Mortgage Company Owner Wants to Buy Baseball Team

October 24, 2014
Paul Muolo
Note to Ocwen management: every US employee is a potential mortgage customer. Think about it.
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FHFA IG Among Growing List of Financial Regulators with Armed Agents

October 23, 2014
Charles Wisniowski
According to the most recently available data, 33 IG offices had roughly 3,500 agents authorized to carry firearms.
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Short Takes: A ‘Troubling’ Corporate Culture at Ocwen? / IMA Launches Crowd-Funding Unit / Massachusetts Loses Foreclosure Battle with GSEs / Reverse Stock Split for Mortgage REIT

October 23, 2014
Paul Muolo and Charles Wisniowski
Interactive Mortgage Advisors has launched RealPartner.com, a crowd funding platform giving accredited investors access to performing residential mortgages...
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FHFA’s Watt Promises a CSP CEO Will be Named by Year-end

October 22, 2014
Paul Muolo
One former CEO candidate told IMFnews that back when he was approached about the job, the starting salary for the position was at least $400,000.
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Short Takes: Who Might Guaranteed Rate Buy? / RPM Eyes Two More Lenders / A Non-QM IPO Already? Really? / Fitch Upgrades Shellpoint on Servicing / New Appraisal Tool From Fannie Mae / More Trouble for Nonbanks and MSRs?

October 22, 2014
Brandon Ivey, Paul Muolo, and Charles Wisniowski
We even heard one report that a non-QM firm is contemplating an initial public offering. It sounds crazy, we know…Meanwhile, it appears the states want a say in MSR transfers...
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