Bank of Hawaii is recruiting for a group executive to head its mortgage banking division. Korn Ferry has been hired to conduct the search.

In the pre-crash days, newly created MSRs were selling at 6 and even 7 times the servicing fee. “I even saw prices of eight,” said Chuck Klein, managing partner for Mortgage Banking Solution.

One source familiar with Ellie Mae told IMFnews that the technology provider has a long list of potential acquisitions.

Servicing deals, both flow and bulk, continue to hit the market.

A group called The 60 Plus Association has released TV and radio ads in seven states targeting Senate Banking Committee Members who are sponsoring GSE reform legislation. The group claims the bills “allow the government to take over the mortgage industry in an action 'disturbingly similar' to Obamacare.”

No purchase price on the sale of Allonhill assets to Stewart was ever disclosed. According to the bankruptcy filing, the sale price cannot be revealed for at least 12 months after the sale and will require approvals from both parties.

Whatever happened to the sale of Cole Taylor Mortgage, which has been in the works for nine months or so? Good question. When we asked one source close to the deal, his response was this: “Think of the Energizer Bunny but with fairly old batteries.

Then again, some lenders are taking a middle path, selling the MSR asset but continuing to work the loans as a subservicer.

Speculation continues to grow concerning which nonbanks have looked at buying PHH Mortgage. Our sources caution that “looking” doesn’t mean a deal is close. PHH is based in Cherry Hill, NJ, not too far from Philadelphia. One advisor suggested we look at who has been flying in from points south.

One executive familiar with PHH Mortgage said he anticipates that other senior officers may leave shortly. The firm's departing CAO was with the lender for just over a year.