Short Takes: MBA Backs Changes at CFPB / A Strong Quarter from MGIC / The Weekend the Lights Went out at FHA / S&P Puts Ocwen on Watch List / Executive Bolts Ocwen for Green River April 21, 2015 Paul Muolo and Thomas Ressler The MBA is backing changes to how the CFPB functions...Read More
Green Tree in $63 Million Settlement with the CFPB; Servicer Accused of Harassing Overdue Borrowers April 21, 2015 Paul Muolo First Ocwen, now Green Tree...Read More
PMIER Fallout: Genworth May Need $700MM of Additional Capital but Expects to be Compliant April 20, 2015 Paul Muolo In trading Monday, Genworth’s stock price was down slightly trading at $7.96. Its 52-week low is $6.75, its high $18.74.Read More
Industry Cheers as Nation’s Largest FHA Lender Sues HUD and DOJ April 20, 2015 Paul Muolo Quicken is the first major lender in the nation to challenge the government in this regard by filing a lawsuit.Read More
Short Takes: The Quicken Data Dump to DOJ / Dan Gilbert’s Growing Portfolio of Detroit Properties / Ocwen Gets Extension / ASPS Grants Options to Executives / BofA and IBM? April 20, 2015 Paul Muolo and Brandon Ivey The lender says government investigators have conducted lengthy depositions with numerous Quicken leaders…Read More
No G-Fee Hike but LLPAs Rise for Cash-Outs, Conforming Jumbos; A PMIER Suprise April 17, 2015 Paul Muolo and Carisa Chappell G-fees will stay the same while the adverse market charge will be eliminated and certain loan-level pricing adjustments will increase. The FHFA also released private mortgage insurer eligibility requirements.Read More
What We’re Hearing: Concern Over LPMI Discounting? / RoundPoint Still Hunting for a Suitor / A Book out on Seterus? / When Fannie Almost Bought Litton / loanDepot Claims It’s Among the Fastest April 17, 2015 Paul Muolo If Fannie Mae bought a servicing platform Congress, of course, would blow a gasket...Read More
Fannie, Freddie, MBA Hike Their Origination Forecasts (Some Ever So Slightly) April 16, 2015 Paul Muolo Some lenders are swamped with refis...Read More
1Q Residential Production at Citigroup Lags Peers; Servicing Continues to Shrink April 16, 2015 Paul Muolo Meanwhile, Citigroup continues to see its servicing “for others” portfolio shrink...Read More
Texas Depository Purchases 15-Year-Old Nonbank Mortgage Firm April 16, 2015 Paul Muolo In general, depositories have not been active buyers of mortgage companies, though that’s starting to change somewhat. Read More