An Ominous Sign? Residential Production at Wells Fargo Slumps 39 Percent; JPM Not as Bad April 13, 2017 Paul Muolo Then again, compared to the same period a year ago, Wells' production is just about flat... Read More
Short Takes: Ed DeMarco and TBTF / An Accomplishment: G-Fee Parity / Hensarling’s Donors / GSEs Stay Busy on the Multifamily Front / What Mortgage Directors Earn April 13, 2017 Paul Muolo In 2012, the g-fee disparity fell to about 6 bps. By 2013 it was just about gone. And you can credit Ed DeMarco…Read More
CitiMortgage’s Third-Party Servicing Portfolio Plummets 66 Percent; Lending Off 32 Percent April 13, 2017 Paul Muolo It’s a safe bet that CitiMortgage will no longer be a top-10 ranked residential servicer…Read More
Nationstar CEO Earned $5.36 Million, Flagstar Chief Saw a Decline in Compensation April 12, 2017 Paul Muolo The compensation figures for both men include salary, stock awards and other forms of income.Read More
Short Takes: CFPB Continues to Hire – Examiners / The Ginnie Mae Job? / An End to ‘Implied’ Guarantees / The Ginnie Mae ‘Plan’ / Fears About the Mortgage Interest Tax Deduction April 12, 2017 Paul Muolo and Thomas Ressler More CFPB examiners means more CFPB exams? Maybe, maybe not...Read More
Investment Banker Craig Phillips is Treasury's ‘Point Person’ on GSE Reform April 11, 2017 Paul Muolo One trade group said Phillips has already reached out to the industry, gathering opinions on key issues facing the market, including Fannie and Freddie…Read More
With Originations Down in 1Q17, Lenders Keep an Eye on Expenses; Some Banks Pondering FHA Again? April 11, 2017 Paul Muolo “There are a couple of big banks looking at FHA again,” said the consultant, but he declined to identify the shops, citing client confidentiality.Read More
Mortgage Employment Keeps Rising, but for How Long? April 11, 2017 Paul Muolo Jeff Detwiler, president of Long & Foster, which also owns a mortgage banking firm, said the company’s attrition rate “is at its lowest.”Read More
Short Takes: Consumer Complaints Center on Credit Bureaus / LenderLive Completes PHH Deal / New Rez Issues Non-Agency MBS / Ben Carson’s ‘Listening Tour’ Arrives in Jacksonville, FL / Norcom Opens Denver Branch April 11, 2017 Brandon Ivey, Paul Muolo, and Thomas Ressler LenderLive hired a majority of the former PHH employees and rebranded the private-label facility...Read More
Phoenix Capital Selling $2.5 Billion of Bulk GSE Servicing Rights April 10, 2017 Paul Muolo It’s not often that FHLB servicing rights hit the auction block…Read More