Market Shocker: Ginnie Mae Interim President Michael Bright Quits January 9, 2019 Paul Muolo Bright was first nominated to the post by President Trump in May of last year. He had been serving as an EVP at Ginnie.Read More
BB&T Quietly Cuts Mortgage Staff Including Correspondent Manager January 8, 2019 Paul Muolo The RIFs at BB&T started in December and more are expected...Read More
TMS Exiting Retail and Wholesale Channels, Will Focus on Servicing, Correspondent Acquisitions January 8, 2019 Paul Muolo AmeriSave said it wants to scale its origination business…Read More
Short Takes: $249 Million in Mortgage Payments at Risk? / Will Trump Order Fannie and Freddie to Stand Down? / Assessing Mark Calabria / Lovell Buys ATTOM / LoanLogics Hires Mortgage Tech Vet January 8, 2019 Namrata Bhatia, Brandon Ivey, and Paul Muolo Overwhelmingly, industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate. Read More
loanDepot Hires Caliber Executive John Bianchi to Head National Sales January 7, 2019 Paul Muolo loanDepot founder and CEO Anthony Hsieh: “We believe in distributed retail…”Read More
CMG Mortgage Expands in the Northeast, Assumes 14 RPM Branches January 7, 2019 Paul Muolo RPM CEO Rob Hirt was good-natured about the departures: “I wish CMG continued success into 2019…”Read More
Short Takes: IRS Cranks Up the IVES Machine Again / Otting at FHFA, Day 1 / AltLoan Enlists a New Capital Markets Partner / 45 Percent Plan to Enter the Non-QM Space This Year / Academy LO Joins Bay Equity Home Loans January 7, 2019 Brandon Ivey and Paul Muolo Roughly 45 percent of respondents said they definitely will enter the the Non-QM market this year.Read More
Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client January 4, 2019 Paul Muolo Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.Read More
Mr. Cooper to Take Control of IBM’s Seterus. Fannie a Big Client January 4, 2019 Paul Muolo Market sources said Seterus struggled to find new servicing clients to replace its dwindling contracts with Fannie Mae.Read More
What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director January 4, 2019 Paul Muolo One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus... Read More