Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update January 22, 2015 George Brooks, Brandon Ivey, and Paul Muolo Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...Read More
Time for Young Blood in the Executive Suites of Mortgage Firms? January 21, 2015 Paul Muolo “I see a lull in aspiring new talent,” recruiter Rick Glass told Inside Mortgage Trends. Read More
Nonprime Lender Citadel Triples Production in 2014, May Do It Again January 21, 2015 Paul Muolo Roughly 5 percent of Citadel's production is retail with correspondent accounting for 7 percent. The balance entails table funding.Read More
Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire January 21, 2015 Brandon Ivey and Paul Muolo Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…Read More
Nationstar Closes on $8.5 Billion MSR Deal from ‘Top Four’ Servicer January 21, 2015 Paul Muolo Is Ocwen the seller of the MSRs?Read More
Citing FHA Premium Cut, Freedom Mortgage May Hire 500 January 20, 2015 Paul Muolo The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.Read More
FHFA PMIER Rule Could be Accompanied by LLPA Announcement January 20, 2015 Paul Muolo “It’s hard to believe the FHFA will release the PMIER rules without doing something on LLPAs,” said one official. Read More
After Stepping Down, Ocwen Founder Erbey Set to Reap at Least $1.2 Million in Cash January 20, 2015 Paul Muolo The separation agreement prohibits the mortgage industry veteran from competing with Ocwen for at least 24 months. Read More
Short Takes: No Minimum FICOs for this FHA Lender / More Mortgage Gifts from President Obama? / Warehouse Mentioned in Earnings from Republic / DocMagic Expecting a Busy Year / Altisource Adds Vella January 20, 2015 Paul Muolo Assisting DocMagic with its work on RESPA-TILA disclosures is Richard Horn, a former senior advisor at the Consumer Financial Protection Bureau...Read More
Ocwen Full Steam Ahead on MBS Clean-up Calls and Ginnie Buyouts January 16, 2015 Paul Muolo A recent report from Barclays found that Ocwen is the servicer on $500 million worth of eligible deals where the collateral value is above 107.Read More