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Zillow Slows Loan Officer Hiring. Reason: Mortgage Tech Issues

August 21, 2019
Brandon Ivey

Until Zillow bought a mortgage company, it was predominantly known for its estimates of individual home values and its residential marketplace... 


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Short Takes: Trump Tells the Market: Mr. Powell, Tear Down Those Interest Rates / The Double-Edged Sword / Not Prepared for the Onslaught? / AEI Sees Negatives In FHA Loosening Condo Rules / Tech Vet Launches Zedvue

August 20, 2019
Paul Muolo

Meanwhile, lenders are swamped these days with new business but are they prepared (staffing wise) to handle the volume?


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Short Takes: Waiting on Capital Rules for Fannie & Freddie / Re-proprose It? / Louisiana and Ohio Lenders Agree to Merge / Does PIMCO Have a Mortgage Problem? / New Rez Agrees to Buy Guardian

August 19, 2019
Paul Muolo

PIMCO owns at least one mortgage company, First Guaranty Mortgage Corp., in Tysons Corner, VA. Earlier this year, FGMC launched a non-QM brand called Maverick…


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What We’re Hearing: Ocwen’s CEO Puts His Money Where His Mouth Is / $197,560 Spent / A Bullish Sign? / Ocwen Launches New Reverse Product / About Those Prices We Quoted You / DocMagic Update

August 16, 2019
Paul Muolo

Ocwen’s Liberty Home Equity Solutions recently launched a non-agency reverse mortgage product. The EquityIQ loan allows borrowers to access up to $4 million in up-front cash...


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Short Takes: Armageddon Times? / It’s Only 500 Points / Impac Share Price Jumps / Spiking: The MBA Application Index / Chimera Readies Jumbo MBS / Angel Oak’s New Prequal Product / More MSR Auctions

August 14, 2019
Paul Muolo and Brandon Ivey

As most mortgage bankers know, recessions are generally good for the industry because rates plunge and originations spike. The tricky part is dealing with borrowers who face employment loss…


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FHFA Publishes Final Rule on Credit Score Models. More Competition on the Horizon?

August 14, 2019
Dennis Hollier

In its final rule, the FHFA appears to have relented, finally paving the way for VantageScore to compete directly with FICO.


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Mortgage Hiring Picks Up. Looking for Help: JPM, Quicken, Others

August 14, 2019
Paul Muolo

Quicken Loans, the nation’s largest direct lender, told IMT the firm currently has 1,300 job openings “with positions available in many areas, including mortgage banking and technology.”


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CEO of GSE Single-Security Platform to Depart, No Specific Date Provided

August 8, 2019
Dennis Hollier

CSS has retained Spenser Stuart – a talent vendor frequently used by Fannie – to conduct an executive search.


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FHA’s Loan Review System Back Online. Documents Lost? Unclear

August 7, 2019
George Brooks

FHA originators use LRS for post-endorsement loan reviews, unconditional direct-endorsement test cases, lender monitoring reviews, and self-reporting of fraud…


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Short Takes: Ocwen’s Cash Position / Stocks for Under $5, Not Necessarily a Bargain / Lenders One Gets New Sales Chief / The Altisource Connection / NAR’s New Senior Policy Rep

August 6, 2019
Paul Muolo

The Lenders One co-op is controlled by industry vendor Altisource Portfolio Solutions, which is pondering a sale. Altisource is publicly traded and started out in life as part of Ocwen…


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