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Short Takes: First Guaranty’s MSRs Hit $1.5 Billion / Fear of Higher Net Worth Rules for GSE Sellers / FHFA Watchdog Looking For Tips on Fannie and Freddie Abuses / Genworth MI Continues to Struggle

February 6, 2013
Paul Muolo and Charles Wisniowski
First Guaranty is experiencing strong growth in its servicing business. Meanwhile, lenders worry about higher net worth requirements from the GSEs.
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Bank Known for Its Entertainment Business Enters Warehouse Space

February 5, 2013
Paul Muolo
City National Bank of Los Angeles is entering the mortgage warehouse business.
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Short Takes: Nationstar Closes on BofA MSRs but More to Go / Walter About to Launch Originations / Stonegate Latest to Enter Jumbo Space / Promontory Enters the Nonperforming Loan Space

February 4, 2013
Paul Muolo
Nationstar Mortgage closes on servicing deals.
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Fannie Continues Its Clampdown on New Seller/Servicers, More…

February 1, 2013
Relatively new players to the world of Fannie Mae approvals are starting to gripe a little more about the “volume curbs” that the GSE is placing on its “newbie” customers. One mortgage banker, who spoke under the condition his name not be used, told Inside Mortgage Finance ...
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Top Default Executive Out at Bank of America

January 31, 2013
Paul Muolo
Norton Wells, senior vice president of Bank of America’s mortgage resolution team, has left the company, industry officials confirmed to Inside Mortgage Finance.
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Short Takes: Will Essent Go Public This Year?/ Top LO Joins Potomac Mortgage/ A Lucrative RFP From FHFA?

January 31, 2013
Now that mortgage insurance claims are waning, and new business is on the rise again, there’s increasing talk that Essent Guaranty might file papers to go public this year.
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JPMorgan Chase Has Huge Loan Reviewer Layoff

January 31, 2013
Paul Muolo
JPMorgan Chase is joining the ranks of banks laying off loan review staff now that they’ve settled their foreclosure cases with the Comptroller of the Currency and the Federal Reserve.
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National MI Gets Closer to Issuing First Policy, 360 Mortgage Continues to Hire, Flagstar Cleanup Continues, Refi by Clicking Your Mouse

January 31, 2013
Paul Muolo and Thomas Ressler
National MI, the Emeryville, CA-based mortgage insurer started by former executives at The PMI Group, has yet to write its first policy, but may soon.
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Thanks to the CFPB, Compliance Costs to Soar?

January 31, 2013
Paul Muolo
What We’re Hearing Certain mortgage bankers are using a four-letter word to describe the trifecta of “final” regulations unveiled by the CFPB the past two weeks, and as you might guess that word isn’t “love.” The rules – servicing, qualified mortgages and loan originator compensation – will shape the industry for years to come... plus other mortgage industry happenings.
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REMN About to Launch Correspondent Unit

January 31, 2013
Paul Muolo
Real Estate Mortgage Network is on the verge of launching a new correspondent division what will use the trade name HomeBridge, a company official told Inside Mortgage Finance.
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