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Short Takes: What Government Shutdown? Senate Panel Meets on Non-Agency Market / CashCall Offering a 2.99 Percent Mortgage / Stonegate Updates IPO Filing / How to Best Loosen Mortgage Credit? / Mark Korell Returns to Mortgage Banking

October 1, 2013
Brandon Ivey, Paul Muolo, and Charles Wisniowski
Is refi specialist CashCall still on the auction block? It’s hard to say since the company doesn’t return telephone calls about the matter.
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Short Takes: GSE Loan Limit Announcement Coming… / Kyle Bass Likes PennyMac / Will PennyMac Issue an NPL MBS? / Investors Gobble Up Nationstar Paper / MBA Chief Economist Stepping Down

September 30, 2013
Paul Muolo
The much anticipated announcement on lower GSE loan limits could be pushed back to mid-October.
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What We’re Hearing: FHA Admits It Will Need Bailout / Mortgage Rates May Go Sky High / Beware Small Business Owners Located Near National Parks / Why Can’t Anyone Else Raise Money for Subprime? / Flagstar Working on Another MSR Deal

September 27, 2013
Paul Muolo
If the U.S. defaults on its debt payments, will mortgage rates go sky high? Meanwhile, will JPM rescure FHA?
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Short Takes: Non-Agency Lender Citadel Goes to 80 Percent on LTV / HUD Readies for Government Shutdown / CSP Employees Will Commute to Wealthy Maryland Suburb / Hensarling a True Believer in the PATH Act / Tech Vendor Wipro Gallagher Launches New LO Produ

September 25, 2013
George Brooks, Brandon Ivey, and Paul Muolo
Citadel Servicing CEO Dan Perl said "the phones are ringing like a son-of-a-gun" at his nonprime lending shop.
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Citi Cuts 1,000 Mortgage Workers, Won’t Rule Out More Layoffs

September 24, 2013
Paul Muolo
The bloodletting in Citigroup's mortgage division may just be starting.
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Citi Latest Megabank to Cut Mortgage Jobs: 1,000 Get Pink Slips

September 23, 2013
Paul Muolo
Citi handed pink slips to 1,000 mortgage workers on Monday. It appears that some loan officers were let go.
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What We’re Hearing: Lower GSE Loan Limits Effective End of 1Q? / A Nonbank Offering Stand-Alone Seconds / More Jumbo Lenders Go to 10 Percent Down / Wells Fargo Still In Love With Mortgages? / Wingspan Spreads its Wings Again

September 20, 2013
Paul Muolo
The implementation date for lower GSE loan limits is being shifted to the end of the first quarter, or so we hear. Meanwhile, Citadel enters the market for stand-alone seconds.
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1,800 Mortgage Workers Get the Ax at Wells, But No Loan Officers

September 19, 2013
Paul Muolo
In less than a month Wells Fargo has unveiled mortgage-related layoffs of 4,100. Some of those receiving pink slips could find other work at the bank.
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Short Takes: The Eminent Domain Lobby Commences / Who Loves Refis? These Lenders Do / FirstREX Branches Out with Downpayment Product / Kansas Bank Expands Mortgage Presence / Auction.com on Jumbos / Mods Hold Steady

September 19, 2013
George Brooks and Paul Muolo
Wall Street will hit the halls of Congress on the issue of eminent domain. Meanwhile, these lenders are refi-heavy: Wells Fargo, Chase, and Quicken. See our exclusive list.
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Short Takes: Nationstar Admits Funding Delays / Equity Loans Picks Up IFG Staff / RFC Closes Charlotte Operations Center / FHA Runs Out of Multifamily Money / Two New MSR Deals From MountainView

September 18, 2013
George Brooks and Paul Muolo
Brokers and others who do business with Nationstar Mortgage said they’ve been hearing stories about two-week delays on funds being delivered. Meanwhile, FHA has run out of multifamily money.
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