What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac May 11, 2018 Paul Muolo Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...Read More
Non-QM Lender Angel Oak Ventures into Small-Balance Commercial Market May 10, 2018 Paul Muolo Angel Oak's small-balance commercial unit employs 19 full-timers and hopes to add an additional 30...Read More
Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit May 10, 2018 Brandon Ivey and Paul Muolo Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...Read More
Another Quarter and More Red Ink for PHH Corp. May 8, 2018 Paul Muolo PHH CEO Robert Crowl: "Our team is fully committed to executing our business plans and meeting the closing requirements for our merger with Ocwen."Read More
Short Takes: Caliber Brings Ginnie MSR Deal / The Nation’s Highest Paid Loan Broker: Doug Lebda ($59M) / Ex-Fannie Exec a Candidate for FHFA Job? / The PHH Head Count May 8, 2018 Brandon Ivey and Paul Muolo It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...Read More
New Residential Hires Fortress Executive David Schneider as New CAO May 8, 2018 Paul Muolo Fortress also controls roughly 500,000 shares of New Residential's common stock and holds options on 18.1 million shares. Read More
MIAC Offers Up $2.2 Billion of Servicing Rights May 8, 2018 Paul Muolo The seller of the portfolio will provide full representations and warranties.Read More
Short Takes: Ditech Sets Comp Package for New CEO Marano / Share Price Struggles / Two Ditech Directors Take Home the Bacon / GE Sets Aside $1.5B for WMC Settlement / Better Hires CFO May 8, 2018 Paul Muolo Ditech directors – George Awad and Neal Goldman – had pay packages of $573,700 and $553,500, respectively. Read More
Freddie Now Extending Lines of Credit to Nonbanks. The Collateral: Mortgage Servicing Rights May 7, 2018 Paul Muolo One former Fannie Mae executive was critical of the effort, calling it “mission and charter creep.”Read More
Short Takes: Being in Debt to a GSE, Not So Bad / FHFA Approved the Product / Coming Soon: Large MSR Deals / Wedbush Drops Coverage of Capital One / RIP: Safeguard Founder Robert Klein May 7, 2018 Paul Muolo But before anyone gets too excited, the Federal Housing Finance Agency approved the Freddie initiative…Read More