Browse articles from IMFnews related to Personnel.

November 21, 2017 - IMFnews

Short Takes: Franklin Codel’s Immediate Plans / Forfeiture of Stock / Entitled to a Severance Package of $2 Million? / MBA Weighs in on CFPB’s Strategic Plan

Codel joined the megabank in 1993. He’s a graduate of Harvard University with a degree in engineering science…

November 21, 2017 - IMFnews

(A Ton) of Mortgage Executives on the Move?

Industry consultant Paul Hindman: “There seems to be a growing number of participants in this year’s game of musical chairs."

November 21, 2017 - IMFnews

One Week After Cordray Declared He’s Leaving the CFPB, Trump Still Hasn’t Named a Replacement

So, where’s Mick?

November 20, 2017 - IMFnews

Short Takes: Still Hiring: Nonprime Lenders / Wiped Clean; Franklin Codel’s LinkedIn Profile / HUD Gives $5B in Hurricane Aid to Texas / Freedom Mortgage Shines / A Rare MBS from AMIPM

Franklin Codel's LinkedIn profile had been wiped clean...

November 20, 2017 - IMFnews

PHH Hires Former Freddie Mac Executive, CSS Consultant Celini as SVP

Celini also worked for Sun National and Ally Bank, formerly known as GMAC Bank…

November 17, 2017 - IMFnews

What We’re Hearing: A Mystery (for Now): Franklin Codel’s Dismissal at Wells / A Major Changing of the Guard is Afoot / Rick Glass: Only the Strong Will Survive / Mick, Tell us How You Really Feel About the CFPB / Fannie & Freddie CEOs Seem Content…

A major changing of the guard is now afoot in the mortgage industry...

November 16, 2017 - IMFnews

Short Takes: Another Mortgage Trade Group Chief Announces Retirement / Redfin’s Mortgage Arm Growing Slowly / Annaly Executives Continue to Buy Stock / World Debt and U.S. Mortgage Debt / Resitrader’s Growth

Annaly executives have purchased $24.3 million worth of company stock in the open market since 2011...

November 16, 2017 - IMFnews

Academy Mortgage Production EVP Departs

Nemec oversaw a retail network of 250 branches...

November 16, 2017 - IMFnews

Ginnie Mae President Candidate David Kittle Tells White House He Doesn’t Want the Job

Kittle was first approached by the White House nine months ago about the job.

November 15, 2017 - IMFnews

CFPB Director Richard Cordray Resigns!

Upon Cordray’s announcement, Rep. Hensarling declared: “We are long overdue for new leadership at the CFPB, a rogue agency that has done more to hurt consumers than help them…”

November 13, 2017 - IMFnews

Short Takes: Time for a Hearing on Why There’s No Housing Inventory / The Russians Invest in Mortgages / Angel Oak’s Latest MBS / A Nonprime REIT? / Eight New LOs for Minnesota MB

Maybe a REIT is the way to go in nonprime...

November 10, 2017 - IMFnews

What We’re Hearing: The Wilbur Ross Story / Tapping Mortgage Expertise / Enter the Phrase ‘Legal Proceedings’ and See What You Find / David Kittle and the Ginnie Mae Job / Reverse Lender has Record Month / A New Hire for Better Mortgage

You might say that Wilbur Ross got out of Ocwen while the getting was good...

November 9, 2017 - IMFnews

Short Takes: $250K a Year in Severance for Impac President / Capital One will Remain in Multifamily / Goldman Wins Fannie Mae Bid / Quicken Gets Some Company at the Top / A New Hire for AmeriFirst

Although Capital One is exiting single-family lending, the bank will continue to provide “specialized" multifamily financing...

November 8, 2017 - IMFnews

Short Takes: Angel Oak Rolls Out New Non-QM Product / A Banner Month for Citadel / Radian Says Don’t Worry About Clayton / Tax Overhaul and the MID? Relax / A New Hire for Stearns Lending

A handful of mortgage executives have suggested to us that trade groups are overreacting to the GOP’s tax overhaul plan and the way it treats the mortgage interest deduction...

November 8, 2017 - IMFnews

Capital One Will Exit Mortgage Business but will Keep MSR Portfolio

Back in February, Capital One’s Senior Director of Home Loans Eric Declercq left the company for a position at loanDepot.

November 7, 2017 - IMFnews

Short Takes: The ‘Think-Tank’ GSE Hearing / More Red Ink for AAMC / AmeriSave’s New President / A Servicing Milestone for Flagstar / Equity Prime Hires New CFO

Tuesday’s panel discussion has been dubbed the “think tank” hearing because it includes representatives from the Urban Institute, the Milken Institute and American Enterprise Institute…

November 7, 2017 - IMFnews

As Industry Plans for Next Year, Layoffs Commence. CEO Changes Ahead?

Industry consultant Paul Hindman believes more executive changes are likely in the months ahead…

November 6, 2017 - IMFnews

Special Counsel Clears Cordray of Election Law Violations

The Office of Special Counsel found no evidence that the CFPB's Richard Cordray violated the Hatch Act.

November 6, 2017 - IMFnews

Short Takes: Bill Ashmore’s Next Move / Richard Pickup, the Largest Investor in Impac / Weaker Results for PennyMac, the REIT / A New Hire for MBA

PennyMac (the REIT) said third quarter results were also affected by the reduced earnings contribution from "our credit risk transfer investments..."

November 3, 2017 - IMFnews

What We’re Hearing: The Mortgage Cycle Turns / PE Firms Ready to Pounce? / Show Mr. Cooper the Door? / Impac in Play? / loanDepot Retail Chief David Norris Departs for Law Enforcement Project / More Nonprime MBS on the Way

Ocwen will not be sold through a stock deal, but Nationstar could be...

November 3, 2017 - IMFnews

After 22 Years as President of Impac, Bill Ashmore Calls it a Day

No immediate successor to Ashmore was named, but whoever the person is they will have to deal with a slumping revenue picture…

November 1, 2017 - IMFnews

Short Takes: Fannie Mae Readies 3Q17 Results / Should be a Good Quarter / Another Reverse Lender Hits the Auction Block? / Rejection Rates for FHA, VA Loans / A New Hire for Stearns

Look for another reverse mortgage lender to hit the auction block...

November 1, 2017 - IMFnews

Rep. Hensarling to Retire. Speculation Immediately Begins on FHFA, CFPB Jobs

“The other natural job would be as CFPB director,” the Cowen analyst continued. “That said, Hensarling has shown much greater interest in housing finance…”

October 31, 2017 - IMFnews

Short Takes: Keeping an Eye on GSE Hurricane Charges / The Tax Bite / In the End, Treasury Wins No Matter What / More Delinquency Data / A Promotion at Norcom Mortgage

You might say that in the end, Treasury cannot lose when it comes to the GSEs...

October 30, 2017 - IMFnews

Short Takes: No Retained Portfolio for the GSEs? / A 33 Percent Chance for a Bill / Have a Mortgage Question? Ask a Real Estate Agent First / MIAC Selling Whole Loans / PrimeLending Picks SoCal Manager

No GSE-retained portfolios in Treasury's plan?

October 27, 2017 - IMFnews

What We’re Hearing: The Upper Hand on GSE Reform? / Jeb Hensarling, a Candidate for the FHFA Job? / Safe and Sound REITs / A Nice Return on Unsecured Consumer Loans / Dave Stevens Successor? / A Good Year for the Trade Group

But what about Watt? His term as director of the Federal Housing Finance Agency ends in early 2019...

October 26, 2017 - IMFnews

Short Takes: Ocwen Sale Could Spell Trouble for Indian Workers / Tepid Mortgage Results for Ally / From GMAC to Ocwen to Nationstar / 3Q Results from Radian, Altisource / No Thanks, Mr. Mnuchin

Some history: When GMAC imploded earlier in the decade, some of its GSE servicing rights were sold to Ocwen. Ocwen eventually sold those contracts to Nationstar.

October 25, 2017 - IMFnews

Short Takes: MBA CEO Dave Stevens Announces Retirement / The Search for a Successor Begins Now / MBA Bullish on Purchase Lending, Refis Not So Much / All Hail Peyton / President Bolts PrimeLending for Nonbank

Who will replace Dave Stevens at MBA? The speculation has already begun...

October 24, 2017 - IMFnews

Short Takes: ‘Zero Capital’ Gets Zero Mention by FHFA Director Watt / Fannie CEO None-Too-Thrilled with ‘Colonial Style’ / Flagstar Cites Sweet Profits from Homebuilder Finance / No Housing Bubble, Says Arch / Capstead Gets a New CFO

Homebuilder finance is booming at Flagstar Bancorp...

October 23, 2017 - IMFnews

Short Takes: MBA’s Stevens to the Troops: You’re Living Under a False Sense of Security / Trump’s Nominee to Head the FHFA? / How Basel Treats Servicing Assets / Executive Bolts PNC Bank for NewDay

MBA chief Dave Stevens: “What happens if the president nominates a new [FHFA] director who thinks the government role in mortgage finance is too large and wants to scale it back?"

October 19, 2017 - IMFnews

Short Takes: Princeton Mortgage Enters Wholesale Arena / Ocwen Settles with Lone Star State / Stipulations Regarding REALServicing / The Original Trademark / Angel Oak Hires Fund Manager

Ocwen settled with Texas regulators as well...

October 19, 2017 - IMFnews

Stearns Reorganizes a Bit, Cuts 159 Jobs in California, but Plans to Rehire in Texas; Seeks LOs

“We continue to be bullish on the business,” said Stearns CEO David Schneider.

October 17, 2017 - IMFnews

Short Takes: More Trouble for SoFi & Fintech? / So, Maybe CFPB’s Cordray Won’t Run / Goldman Agrees to Buy Fix-and-Flip Lender / Housing Assistance Council Hires former HUD, USDA Official to Lead the Organization

With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...

October 16, 2017 - IMFnews

Short Takes: Large Nonbank Ready to Enter Second-Lien Market / Mortgage Layoffs in California? / The 30th Anniversary of ‘Black Monday.’ Beware? / UWM Rolls out ‘Client Loyalty’ Tool for Brokers / Annaly CEO will Become Chairman, Eventually

A large nonbank is about to enter the second-lien market...

October 16, 2017 - IMFnews

CFPB Enforcement Chief Anthony Alexis to Depart

Before joining the bureau in 2012, Alexis was a complex litigation and white collar partner at the Mayer Brown law firm in Washington, DC…

October 11, 2017 - IMFnews

Short Takes: Ginnie Mae Worried about Certain Nonbanks? / The David Kittle Nomination? / KKR Closes Fund to New Investors / SFR Hits $33 Billion / A New Hire for Grandbridge

There’s still no word from the White House on when it will nominate industry executive David Kittle to be the next president of Ginnie Mae...

October 10, 2017 - IMFnews

Short Takes: CIT Will Take Hefty Hit on Sale of Financial Freedom / OneWest’s Roots / Fannie and Freddie Affected by Deloitte Hack? / ALTA Unveils Registry / A New Hire for Platinum

CIT Group will take a charge of up to $50 million on the sale of Financial Freedom...

October 10, 2017 - IMFnews

The Equifax Data Breach – What it Might Mean for the Mortgage Industry. Warehouse Implications?

Overall, hackers stole financial information on roughly 140 million American consumers…


With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.
No. It’s still difficult compliance/regulatory-wise.
Maybe. It’s under consideration.
Not now. But things could change as 2018 progresses.

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