Hisey, a former Fannie Mae executive, has been given the title of chief strategy and external affairs officer, a newly created position at the nonbank lender/servicer.

Bank of Hawaii is recruiting for a group executive to head its mortgage banking division. Korn Ferry has been hired to conduct the search.

In the pre-crash days, newly created MSRs were selling at 6 and even 7 times the servicing fee. “I even saw prices of eight,” said Chuck Klein, managing partner for Mortgage Banking Solution.

One mortgage technology expert had this to say on the Ellie Mae shutdown: “This is going to get ugly. Real money is lost when you can’t close loans on time.”

The two have petitioned Treasury Secretary Jack Lew to designate Fannie and Freddie as SIFIs. Being an SIFI means the two would be subject to higher capital standards and greater scrutiny – as though the two aren’t under enough scrutiny as it is.

One source familiar with Ellie Mae told IMFnews that the technology provider has a long list of potential acquisitions.

One executive, requesting his name not be used, said, “It completely wrecked our last day of the month. We were unable to sending closing packages, send disclosures, export files and such.”

Servicing deals, both flow and bulk, continue to hit the market.

A group called The 60 Plus Association has released TV and radio ads in seven states targeting Senate Banking Committee Members who are sponsoring GSE reform legislation. The group claims the bills “allow the government to take over the mortgage industry in an action 'disturbingly similar' to Obamacare.”

To date, the use of eminent domain to restructure residential loans has garnered a ton of headlines in the financial press, but has posted little in the way of success.