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Bob Appel, EVP of Default Servicing, Resigns from Nationstar

March 21, 2013
Paul Muolo
Nationstar Mortgage, a fast growing residential servicer, is losing the man in charge of default processing at the firm.
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Short Takes: CFPB Shows Some Love for the Industry? / Chamberlain to Head PNC Mortgage / Quicken Loans Owner Keeps Gobbling Up RE in Detroit / Gorman & Gorman Home Loans Sold

March 21, 2013
Paul Muolo and Thomas Ressler
Industry veteran Sy Naqvi is stepping down as CEO of PNC Mortgage.
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Short Takes: Genworth Executive Bolts for Servicer / Hedge Funds Get Cold Shoulder from the GSEs? / Chimera Continues to Have Reporting Problems / The Cordray Saga Continues / PLS Modifications at 45 Percent

March 20, 2013
Paul Muolo and Thomas Ressler
Genworth is losing a top MI executive to a mortgage servicer. And more woes for Chimera...
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Senate Banking Panel Approves Cordray to Head CFPB But GOP Isn’t Happy

March 19, 2013
Thomas Ressler
The Senate Banking Committee, as expected, approved the nomination of Richard Cordray to head the CFPB, but Republicans are not happy about the structure of the young agency.
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FHFA Chief Critical of Congress for Lack of Movement on GSE Reform

March 19, 2013
Charles Wisniowski
FHFA chief Edward DeMarco on Tuesday criticized Congress for doing nothing in regard to GSE reform.
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GSEs Spent $1 Billion-Plus on Vendors Last Year?

March 18, 2013
Paul Muolo
Fannie Mae and Freddie Mac and spending a ton of money each year on outside contractors, including technology firms, attorneys and accountants.
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Short Takes: New York AG Schneiderman and Other AGs Want DeMarco Replaced Now / Federal Reserve Banks Tapped for CFPB Expenses / Hallmark Enters Wholesale Arena / Two New Wholesale AEs for 360 Mortgage

March 18, 2013
Paul Muolo and Thomas Ressler
Nine Attorneys General, unhappy with the pace of loan modifications, are calling for the immediate dismissal of acting FHFA director Edward DeMarco.
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Former ASF Members, Including Wells Fargo, Working on New Trade Group

March 15, 2013
Brandon Ivey
Several members that recently bolted from the American Securitization Forum are forming a new trade group.
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Vote Scheduled for Tuesday on Nomination of Richard Cordray to Head the CFPB

March 15, 2013
Thomas Ressler
On Tuesday the Senate Banking Committee will hold a vote on the nomination of Richard Cordray to head the CFPB. Does this mean the GOP is warming up to him or is something else afoot?
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Are the Loan Modification and Due Diligence Sectors Toast? / MBS Supply Barely Grows, the Federal Reserve Continues to Hog it Up / The Fannie Mae Earnings Mystery / A Penalty of $7,500 per Mortgage? / Daurio Still Working on Subprime Capital Raise

March 15, 2013
Improving loan quality is sparking a major shake-out in the due diligence sector. Can jumbo production and MBS save the day? Meanwhile, the supply of MBS expanded slightly in the fourth quarter.
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