FHFA Chief Mel Watt: Final Rule on FHLB Membership (Captives) Could Happen by Yearend October 19, 2015 Paul Muolo A lawyer by trade, Watt noted: “Unfortunately, legal constraints prevent me from saying much about this because we are in the period between the end of the comment period and the time we issue the final rule.”Read More
It’s Fall and Mortgage Hiring is Mostly Flat October 16, 2015 Paul Muolo Servicing workers, in particular, feel like they have a target on their backs, thanks to outsourcing and other factors...Read More
What We’re Hearing: Stonegate’s National Sales Manager Fred Bolstad Departs / MBA Convention Opens in San Diego / Fannie Mae Execs Make Themselves Available / Maybe the Next Convention Will be Held in India / CEOs Open to Offers? / Mr. Cooper, Really? October 16, 2015 Paul Muolo A spokesman for Stonegate Mortgage confirmed that Bolstad is no longer with the lender/servicer, but had little else to say on the matter.Read More
The Collingwood Group Enters the Mortgage M&A Game October 15, 2015 Paul Muolo The new Collingwood unit, however, will not be involved in the sale of mortgage servicing rights.Read More
Mortgage Insurers Fear an FHFA Crackdown on their Use of Reinsurance October 15, 2015 Paul Muolo “The FHFA is trying to solve every possible problem that might come up,” said one mortgage insurance executive.Read More
Short Takes: So, What’s BofA’s Next Move? / Who is Tom Ferry? / Former NFL Player Sticks with MSAs / Walter Gets a Better Grade / CFPB Issues New HMDA Rule / FGMC Hires SunTrust Mortgage Chief October 15, 2015 Brandon Ivey and Paul Muolo Bank of America isn't severing all its ties to realtors...Read More
Stonegate’s Mortgage Branches Hunting for a Better Deal Elsewhere? October 14, 2015 Paul Muolo Sources have identified Caliber Home Loans and Skyline Lending as possible acquirers of branches.Read More
Residential Production Down 11 Percent at Wells Fargo, 14 Percent at BofA October 14, 2015 Paul Muolo In 3Q, BofA funded $13.71 billion of first liens, a 14 percent sequential decline. All of it came through the retail channel.Read More
A Trend Continues: Bank of America Pulls the Plug on All Marketing Services Agreements October 14, 2015 Paul Muolo Bank of America said it will discontinue all “space rental agreement programs due to recent regulatory developments.”Read More
Short Takes: An Update on GSE Principal Reductions? / FCI Teams Up with Blackrock on SFRs / Ditech in ABS Deal / RealtyMogul.com Hits a Milestone / Just in Time for Halloween: Fewer ‘Zombie’ Foreclosures October 14, 2015 Brandon Ivey and Paul Muolo According to a rate sheet, the minimum loan amount on the rental properties is $250,000 while the minimum number of properties is five...Read More