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FHFA Hires Spencer Stuart for Common Securitization Platform CEO Search

August 13, 2013
Paul Muolo
FHFA has handed over a list of CEO candidates to Spencer Stuart, which bills itself as an international recruiting firm with 54 offices in 29 countries.
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Short Takes: CashCall Sued by NY AG but Not Over Mortgages / Sen. Jack Reed Shows Some Love for the GSEs / QRM Coming Soon? / ASF Tells Servicers to Reject Eminent Domain Offers / Trailer Park Loans Get an Appraisal Break

August 13, 2013
Paul Muolo and George Brooks
CashCall may be in trouble with New York State. So, where's Senator Reed's GSE bill?
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Short Takes: At Least Harry Reid Likes the GSEs / Uncle Sam Takes In More Revenue, Thanks to Fannie and Freddie / Greenlight Earned How Much Last Year? / HSBC Official Joins Mortgage Master / Calling All Warehouse Lenders

August 12, 2013
Paul Muolo
Senate Majority Leader Harry Reid appears to have come out in support of Fannie Mae and Freddie Mac. But will other elected officials follow suit?
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What We’re Hearing: Stated-Income Lending Returns / Can Fannie and Freddie Get Their Companies Back? / Walter’s Big Fannie Mae Secret / Bidders Paying 6x for MSRs? / EverBank Official to Head Mortgage Lending at Insignia / PNC Gets Subpoenaed

August 9, 2013
Stated-income loans are being offered at 5.49 percent as long as the borrower puts down 20 percent. Meanwhile, Walter wants to keep its contract terms with Fannie Mae secret.
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U.S. Bank Searches for Chief Operating Officer for Mortgage Unit

August 8, 2013
Paul Muolo
According to figures compiled by IMF, U.S. Bank Home saw its residential fundings slip to $18.62 billion in the second quarter compared to $22.46 billion in the first.
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Short Takes: Wells Cans 763 Mortgage Workers / Return of the Eminent Domain Jedi? / Delinquencies Continue to Improve / JPM Under the DoJ Microscope Because of Subprime / Bexil Enters NJ Wholesale Space / Wally and Penny Hit Earnings Home Runs

August 8, 2013
Paul Muolo and Brandon Ivey
Wells Fargo cuts 760-plus mortgage workers. Meanwhile, Bexil American enters the New Jersey market through the wholesale channel.
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Signs of Expansion in Wholesale as EverBank Exits The Channel; Broker Employment Edges Up Slightly

August 8, 2013
In the wake of EverBank’s recent exit from the wholesale/broker channel, there appear to be signs of expansion in the sector with nonbanks leading the charge. But mortgage brokers shouldn’t get their hopes up too much: Many of those expanding are nonbanks and none are likely to fill the void created by the megabanks – Bank of America, Chase and Wells Fargo – which began pulling out three years ago. “I truly believe...
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Short Takes: So, Why Does the White House Want to Kill the GSEs? / Politicians Continue to Bash Fannie and Freddie / BofA Cuts Servicing Jobs in Pittsburgh / Wholesale Lending Makes a Comeback / Impac Comes on Strong

August 7, 2013
Paul Muolo
Who says that wholesale lending through loan brokers is dead? Carrington Mortgage and other firms are expanding in the sector.
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Short Takes: Is CashCall Off the Auction Block? / HSBC Could Take a Huge Hit on MBS Settlement / FHFA CSP Job Pays $450,000 / LenderLive Gets Ginnie Approvals / Eminent Domain Advances

August 6, 2013
Paul Muolo and George Brooks
Is refi specialist CashCall still on the auction block?
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Mortgage Brokers Continue to Hire, But Barely

August 5, 2013
Paul Muolo
Mortgage brokerage firms added new workers in June but at a very slow pace, a sign that the origination market is slowing.
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