Short Takes: Full Bore into Non-QM? / FHA Could Hike Premiums / Record Attendance at ABS East / Departures from Sprout / A New Denver Branch for Churchill Mortgage September 25, 2018 Brandon Ivey and Paul Muolo Will FHA hike its premiums? Maybe, maybe not...Read More
Trade Groups, Bankers Voice Disdain for Freddie’s MSR-Financing Pilot September 24, 2018 Paul Muolo ICBA: “They [Freddie] can say whatever they want to, but financing MSR crosses the line.” Read More
Nonprime Lender Deephaven Taps LoanScorecard’s AU Software September 24, 2018 Paul Muolo Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not appear.Read More
Short Takes: Freddie Doesn’t Mince Words / Thinking of Going Public? / Why Amazon and Google Won’t Buy an Existing Franchise / Moogle or Moogage? / Texas Capital’s Deposit Base / Mortgage Job Cuts at USAA September 24, 2018 Paul Muolo Meanwhile, Hindman doesn’t see Amazon or Google buying an existing mortgage franchise... Read More
Wells Fargo Announces Job Cuts. The Mortgage Damage Could Total 3,097 Positions September 21, 2018 Paul Muolo The megabank is not commenting on how the cuts might affect specific business units... Read More
What We’re Hearing: Freddie Mac Puts on its Banker Hat / Some Interesting Policy Moves by Mel Watt / Nonbank Liquidity is a Good Thing, Right? / The Progressives v. the Traditionalists / Eat a Peach: CFPB Moves an Office to Atlanta September 21, 2018 Paul Muolo The idea to ban nonbanks from the FHLB system (via the captive loophole) increasingly looks like a head-scratcher....Read More
Brian Brooks, a Possible Successor to Fannie CEO Mayopoulos, Departs September 20, 2018 Paul Muolo Brooks was vice chairman of OneWest Bank, a depository once owned by current Treasury Secretary Steven Mnuchin.Read More
Incenter Halts ‘Active Market Making’ of TBA Securities September 20, 2018 Paul Muolo Incenter is a “portfolio” company of The Blackstone Group, which has several mortgage-related investments including…Read More
Short Takes: Connecticut Mortgage Regs Reach a ‘Breaking Point’? / A Revenue Grab? / One Subservicer That Benefits From Too Much State Regulation / Ditech, a Very Thinly Traded Mortgage Stock / PenFed Hires JPM Executive September 20, 2018 Paul Muolo First Alliance issued a statement calling the license idea a “desperate revenue grabbing” practice.Read More
Former Goldman Officials Launch Non-QM Wholesaler to Feed its Growing Aggregation Business September 19, 2018 Paul Muolo Steve Skolnik, an industry veteran with a long career in nonprime lending, was recently hired as CEO…Read More