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Short Takes: Does IBM Have the FHFA MBS Platform Contract? / New Penn Expands its Jumbo Products / Another Subprime Capital Raise? / Stonegate Hires Former Homeward Executive

March 5, 2013
Paul Muolo
Speculation is mounting that International Business Machines may have the contract to build the new single-platform MBS unit for FHFA.
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GMH Hires GMAC Executive as SVP of National Production

March 4, 2013
Paul Muolo
GMH Mortgage Services, which is barely five years old, has hired GMAC veteran Frank DiMaio to run national sales.
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Ocwen Says its Servicing Cost for NPLs is Dirt Cheap, India?

March 4, 2013
Paul Muolo
Ocwen's huge overseas workforce has allowed it to lower its servicing costs substantially, at least that's how it appears.
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Yes, Subprime Lending is Finally Back / Will Fannie Post 4Q Earnings of $8 Billion? / FHA User Fees? / 17,000 FHA Loans to Hit the Auction Block / UGI Now # 1 / Wells Fargo Loses Top Regional Manager

March 1, 2013
Citadel Servicing has raised $200 million in capital to originate residential subprime mortgages. Does this mean subprime lending is "back"? Answer: yes and no.
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The Sequester Effect: FHA Services Will Slow

February 28, 2013
George Brooks
FHA staff could be furloughed if the federal sequester happens Thursday night.
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Short Takes: Wells Hires Someone to Manage JVs / Cordray Will Be Confirmed? / Ocwen Posts Results but Analysts are Not Impressed / HUD Writing its Own QM Rule for FHA Loans

February 28, 2013
Paul Muolo, Thomas Ressler, and Brandon Ivey
Wells Fargo has not given up on mortgage lending JVs after all and has hired someone to manage them.
Read More

QM Could Survive Ruling That Overturns Cordray Appointment

February 27, 2013
Thomas Ressler
The "Qualified Mortgage" rule will survive any legal testing of the authority of CFPB chief Richard Cordray.
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Short Takes: The Dwindling JV Empire of Wells Fargo / More Layoffs for Foreclosure Review Specialists? / Where Are Fannie’s Earnings? / Vericrest is Hiring

February 27, 2013
Paul Muolo
Wells Fargo says it is committed to its remaining joint venture lending partners but isn't giving out any names on the JVs.
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JPM Will Slash Mortgage Staff, Sells MSR Platform to Wingspan

February 26, 2013
Paul Muolo
JPMorgan Chase will slash thousands of mortgage workers over the next 20 months.
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Nationstar CFO David Hisey Will Earn at Least $1.375 Million

February 25, 2013
Paul Muolo
Nationstar Mortgage signs a new employment contract with one of its top executives, CFO David Hisey.
Read More
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