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Short Takes: Judge Orders Mediation for Quicken and Uncle Sam / Fighting Rather Than Quitting / A Mortgage Sample of Just 55 Loans / Calabria and GSE Stock Prices / Waiting on the Swearing In / Arch and Some Predictions About the (Coming) Recession

April 9, 2019
Paul Muolo
In late 2015, Quicken executive Bill Emerson complained how DOJ sued based on a paltry sample of the lender’s government-backed loans. “They cherry-picked just 55 loans [for its case],” he said…
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Lenders Fear Expanded HMDA Reporting Could Lead to More Scrutiny

April 9, 2019
Yemeng Yang
More data = more scrutiny?
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Short Takes: No Docs Making a Comeback / Overcapacity Still a Problem, Says KBW / It’s All About Controlling Costs / loanDepot’s Hsieh Welcomes Zillow as a Competitor / Chief of Staff Miller Resigns at Treasury

April 8, 2019
Paul Muolo
Keefe, Bruyette & Woods says overcapacity in the mortgage industry continues to be a problem...
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Mortgage Employment Continues to Lag. But Is a Turnaround in the Works?

April 8, 2019
Paul Muolo
As industry consultant Paul Hindman noted: “The dramatic swing in mortgage interest rates changed the game big time."
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Senate Confirms Calabria as Next FHFA Director. His First Move?

April 5, 2019
Paul Muolo and Dennis Hollier
The vote was 52 to 44, along party lines...
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JPM Chief Estimates $1T in Lost Mortgage Volume, Hints the Bank Might Change its Mortgage Strategy

April 5, 2019
Brandon Ivey
Dimon added that Chase is “intensely reviewing” its role in originating, servicing and holding mortgages due to regulatory issues...
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California Moves Forward on Plans to Create a CFPB-Like Agency

April 5, 2019
Yemeng Yang
The California governor last week appointed a former CFPB enforcement attorney, Manuel Alvarez, as DBO commissioner.
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What We’re Hearing: A Mortgage Sea Change for JPMorgan Chase? / Dimon Beats Up on Nonbanks (Again) / Kumbaya on Loan Brokers? (Not Likely) / Calabria’s First Move? / IMA Selling Bulk MSR Portfolio / Layoffs at Ditech Financial

April 5, 2019
Paul Muolo
Who knows – maybe Dimon will once again embrace doing business with loan brokers...
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FHFA Authorizes GSE Payments to Affordable Housing Trust Funds

April 4, 2019
Dennis Hollier
In general, Republicans don’t like the idea of the GSEs funding affordable housing trust funds…
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Senate Confirms Calabria as Next FHFA Director. His First Move?

April 4, 2019
Paul Muolo and Dennis Hollier
Although Fannie and Freddie were taken over by the government in the fall of 2008, the two have been wildly profitable – with a few bumps along the way – since 2012.
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