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Short Takes: Altisource Unveils Broker Launch / If You Had Bought MGIC Stock Two Years Ago… / UGI and Other MIs Offer Rescission Relief / The ‘Jumbo Three’

September 11, 2014
Paul Muolo
Altisource Portfolio Solutions has rolled out a new operating platform for brokers, table funders and third-party vendors.
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Sen. Warren Grills Regulators Over Lack of Mortgage Banker Prosecutions

September 10, 2014
Thomas Ressler
Sen. Richard Shelby, R-AL, agreed with Warren’s criticism of the government’s failure to prosecute individual bankers, but he faulted the Department of Justice, not financial regulators...
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Short Takes: Nonbanks Rule in the Capital Category? / Don’t Even Ask About the Wells-Ocwen MSR Deal / Mortgage Applications Tank / Fannie and Freddie Beat the Tax Man / Cordray on HMDA

September 10, 2014
Paul Muolo, Thomas Ressler, and Charles Wisniowski
We understand that when stock analysts meet with Ocwen management, executives at the nonbank usually tell them to not even ask about the deal.
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Short Takes: GSE Reform is Dead, Right? / Sen. Warren Wants Wall Street Scalps / If There’s Hope, It Lies With HELOCs / Mortgage Master Continues to Recruit LOs

September 9, 2014
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Roughly 25 percent of lenders said they hope to enter the home equity lending market over the next 12 months.
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Short Takes: CBO Calls ‘Johnson-Crapo’ a Financial Winner / Can the GOP Ram Thru a GSE Bill Next Year? / Radian Reports Strong MI Volume / Ellington Prices Shares / MBA Announces Realignment

September 8, 2014
Paul Muolo
One question we occasionally hear is this one: If the GOP this fall gains control of the Senate can’t they just push through a GSE reform bill and hope to override a presidential veto, if there is one?
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Mortgage Banking Employment Increased in July, but Brokers Cut Jobs

September 5, 2014
Paul Muolo
There are signs of life in mortgage hiring, depending on the job description. Firms looking to increase staff levels include the lending arm of Bayview Asset Management, Citadel Loan Servicing and Carrington Mortgage Services.
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What We’re Hearing: Good, Let the Banks Get Out of Mortgages / Quicken Loans Comes on Strong / Can JPM Even Compete with Quicken? / Who Might Buy Ocwen, Nationstar? Anyone? / Carrington Expands in the Midwest / Dovenmuehle Who?

September 5, 2014
Paul Muolo
Does JPM's Jamie Dimon really care about the mortgage business? Or is he in it for the CRA credits?
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FHFA-IG Help Wanted: Firearms-Proficient Criminal Investigator

September 5, 2014
The Inspector General of the Federal Housing Finance Agency is looking for a supervisory criminal investigator to work on what it calls “unique, complex and sensitive projects,” according to a recent employment ad posted on USAjobs.gov. The applicant, who must have a top secret security clearance, can earn anywhere from $134,000 to $227,000 per year. The in-house investigator would supervise the IG’s hotline team at least 25 percent of the time, and manage and maintain both the Computer Investigative Forensics Program and the National Firearms and Training Program of the department, among other duties.
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Short Takes: Former FHFA Chief DeMarco Passes on One Job, But Goes to Milken / DeMarco Pens His First Paper / CHLA Against G-Fee Hike / Home Equity Lending on the Rise / Big Banks May Have to Report Certain Mortgage Info Monthly

September 4, 2014
John Bancroft, Brandon Ivey, and Paul Muolo
Can former FHFA director Ed DeMarco affect the debate on the future of Fannie Mae and Freddie Mac? Can anyone?
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Short Takes: IMA Selling $4 Billion of Fannie MSRs / PennyMac Looking to Buy MSRs? / New Final Rules From FHA / HSBC Sells Receivables / Carrington Mortgage Hires Ex-JPM Executive

September 3, 2014
George Brooks and Paul Muolo
It appears that PennyMac Financial Services is in the market to buy MSRs...
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