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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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Head of Retail for CitiMortgage Bolts for Nationstar Mortgage

March 14, 2013
Paul Muolo
A top production executive from CitiMortgage has departed the megabank for the pastures of Texas and Nationstar Mortgage.
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Short Takes: Freddie Still Owed $1.2 Billion From Lehman / Citi Buys NPLs from Wells / HLSS Buys Servicing Rights From Ocwen / Ross Joins Ocwen / MI Firms Fear the QRM

March 14, 2013
George Brooks and Paul Muolo
Freddie Mac is still owed $1.2 billion from Lehman Brothers, which went bust five years ago. Also, Wells Fargo sells NPLs to Citigroup.
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GOP Campaign Against the CFPB Opens on a New Front

March 13, 2013
Thomas Ressler
The chairman of the House Banking Committee wants clarification from the Federal Reserve on the central bank's transfer of funds to the CFPB.
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HUD Union Challenges Sequestration, 9,000 Workers Would Lose Pay

March 13, 2013
George Brooks
Roughly 9,000 HUD/FHA workers could lose pay under federal sequestration.
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Bank of America Confirms Job Cuts in Its LandSafe Unit

March 13, 2013
Paul Muolo
A declining inventory of problem home mortgages and REO played a key role in Bank of America slashing the workforce of LandSafe by roughly 10 percent.
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Short Takes: A New FHFA Director to Be Unveiled Soon? / Nonbanks and Jumbos? / Rep. Ryan Plan to Kill the GSEs DOA / Apps Take A Tumble / Sen. Elizabeth Warren, Silent but Not for Long

March 13, 2013
Paul Muolo, Thomas Ressler, and Charles Wisniowski
Will the White House soon unveil its FHFA director candidate?
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