Personnel

Browse articles from IMFnews related to Personnel.

July 12, 2018 - IMFnews

Short Takes: FHA in a Hiring Mode / CAIVRS, Old as Dirt? / Likening the GSEs to ‘The Blob’ And His Son / Level One Ponies up to the Mortgage Bar / MSR Auction from The Prestwick Group

One slide in the GSE presentation is entitled, “The Blob and the Return of the Blob,” a reference to the horror movie classics of the late 1950s…


July 12, 2018 - IMFnews

PiperJaffray: Lenders are Cutting Costs but It’s Not Enough. LO Pay Must Come Down

Consultant David Lykken said some mortgage bankers believe LO comp is “untouchable,” but he strongly disagrees…


July 12, 2018 - IMFnews

NRL Mortgage Increasing Staff, Will Expand Into New Markets

A retail lender, the Houston-based NRL has increased staff at a branch in Cincinnati by 25 percent this year…


July 11, 2018 - IMFnews

Short Takes: Show FHA the Money / Blame COBOL / Home Point Lops Off Some Branches / StoneHill Expands / A Key Hire for Equity Prime Mortgage

Home Point Financial, Ann Arbor, MI, said it will “transition” some of its East Coast retail branches to Northpointe Bank...


July 10, 2018 - IMFnews

Short Takes: Fannie Launches MI Pilot / MBA Reg Counsel Joins Consulting Firm / Non Bank Market Share Grows / FHFA Capital Rule Criticized

Fannie said the new lender option allows the GSE to streamline the operational requirements of participating lenders...


July 10, 2018 - IMFnews

Former Hensarling Aide Johnson Gets Acting Deputy Director Slot at the CFPB

Johnson joined the bureau late last year from the House Financial Services Committee where he held the title of senior counsel.


July 10, 2018 - IMFnews

Flagstar Hires Regions Bank Executive to Head Retail

In the first quarter of 2018, Flagstar funded $7.88 billion of home mortgages, just $960 million of which came through the retail channel...


July 9, 2018 - IMFnews

Short Takes: Those Ginnie Warnings on VA IRRRLs Apparently Worked / The Trump GSE Plan, Going Nowhere? / NJ Lender Launches Call Center in SC / Churchill in a Hiring Mode / Walker & Dunlop Hires Capital Markets Executive

Although loan production is down this year, that isn’t stopping some lenders from moving forward with expansion plans.


July 9, 2018 - IMFnews

CFPB Deputy Director English Announces Resignation. Her Legal Challenge Ends

Last fall, English was named the CFPB’s deputy director by departing Director Richard Cordray...


July 5, 2018 - IMFnews

Amid Talk of Industry Layoffs, United Wholesale is Hiring

According to figures compiled by Inside Mortgage Finance, UWM ranks ninth overall among all lenders, and is poised to move up in the rankings...


July 3, 2018 - IMFnews

Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal

TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.”


July 2, 2018 - IMFnews

Short Takes: Lending Tree Comes Back Down to Earth / If Mortgage Rates Hit 5 Percent… / WMIH and Nationstar Shareholders Approve / NJ Mortgage CEO and Founder Resigns / Executive Bolts Stewart for WFG

LendingTree founder and CEO Douglas Lebda took home total compensation of $59.6 million last year...


June 29, 2018 - IMFnews

Another Job for CFPB’s Mulvaney? Kraninger’s Confirmation Hearing Set for July 19

“It’ll be more chaos if the president has to appoint another acting director," said one former CFPB official.


June 29, 2018 - IMFnews

What We’re Hearing: A Lifeboat Too Small? / Non-QM Loans Performing Well, So Far / Ridiculous Housing Prices Continue / A 40 Percent Disappearance Rate? / A Recession Might Save the Day / Fannie Trouble? / Costly Borrowing for WMIH

Once risk-layering appears and LTV ratios climb, then all bets are off...


June 28, 2018 - IMFnews

Short Takes: Ralph Nader Has Some Unkind (And That’s Putting it Nicely) Words for CFPB’s Mulvaney / Mulvaney Viewed Favorably Elsewhere / Nader and the GSEs (Remember that One?) / More M&A for Union Home / A New Hire for Mello

A few years back, Nader went to bat for Fannie Mae/Freddie Mac shareholders suing the federal government over the GSE net worth profit sweep...


June 27, 2018 - IMFnews

Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."


June 26, 2018 - IMFnews

Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official

Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…


June 25, 2018 - IMFnews

Wells Fargo Cuts 100 Workers at South Carolina Location

Applications have picked up in April, May and June but firms that focused too heavily on refis are now feeling the heat.


June 22, 2018 - IMFnews

What We’re Hearing: Mick Mulvaney, Conservative? / A GSE Starting Point? / Mortgage and Big Tech. Can it Work? / Amazon v. Quicken – is Dan Gilbert Ready? / Movement Mortgage? / LenderLive Hires an Advisor / New Hires for Ditech

One former loanDepot official had this to say about the rumor: “It makes sense. loanDepot has plenty of loan officers handling inbound leads. Amazon could create a ton more and compete with Quicken….”


June 22, 2018 - IMFnews

New York Judge Rules CFPB’s Structure Unconstitutional

The new ruling raises the likelihood that the Supreme Court might take up the issue in the future.


June 21, 2018 - IMFnews

Short Takes: Sounds Logical, Right? / Warning: More Mortgage M&A Ahead / Fannie Warns about Cost-Cutting / Ginnie Wants to Know… / loanDepot Gets a Chief Innovation Officer / FannieMae.com

When it comes to counter-party risk, Ginnie Mae isn't messing around...


June 21, 2018 - IMFnews

Conservatives Rallying Against the CFPB Nominee?

Law professor J.W. Verret on Kathy Kraninger: “She doesn’t have experience with financial markets…”


June 20, 2018 - IMFnews

Short Takes: Wholesale Profit Margins Under Pressure Too? / Commercial Bank Seeks MB / A New IO MBS from JPM / An Update on Ex-FGMC CEO Peters / New Hires for Two Harbors, Walker & Dunlop

All of the loans in the new JPM deal were originated by First Republic Bank, with seasoning of seven years...


June 19, 2018 - IMFnews

Short Takes: Sen. Warren Will Block CFPB Nominee / Midwestern Humility / Yet More Regulations Proposed for Home Servicers / If Maxine Waters Becomes Chairman… / The GSEs, More Dominant Than Ever?

Sen. Elizabeth Warren: "Now Donald Trump wants her to run the CFPB. I will put a hold on her nomination – and fight it at every step – until she turns over all documents..."


June 18, 2018 - IMFnews

Short Takes: CFPB Nominee’s LinkedIn Profile / Kraninger is a Radical Pick for Trump – She’s a Career Bureaucrat / The Thumb’s Up from Hensarling / FTC Action Against CoreLogic / A SC Branch for Mortgage Network

Rep. Jeb Hensarling: "I’m confident that, under Kathy’s leadership, gone are the days of wasting more than $240 million of taxpayer money to renovate a building it doesn’t even own and paying staff to perform research that has nothing to do with the Bureau’s mission..."


June 18, 2018 - IMFnews

Trump Picks Career Government Official to Head the CFPB. A Way to Keep Mulvaney in Charge?

Cowen: “We see the nomination of Kathy Kraninger as a way to keep OMB Director Mick Mulvaney in charge of the Consumer Financial Protection Bureau for years to come..."


June 15, 2018 - IMFnews

What We’re Hearing: There Goes the GSE Footprint / MBA Chief Tackles GSE Stock Speculators / Underwater: Pershing Square / Fannie-Freddie Charter Creep or are They Just Helping the Little Guy? / New Hires for TCF

It’s official: The Treasury Department’s goal is to reduce the footprint of Fannie Mae and Freddie Mac. Who says so? Treasury counselor Craig Phillips...


June 14, 2018 - IMFnews

HomeStreet Reducing Mortgage Staff by 10 Percent Due to Low Demand for Purchase Loans

Last October, HomeStreet cut 60 employees. In May, it put out for bid $5 billion of mortgage servicing rights….


June 13, 2018 - IMFnews

Short Takes: Budget Cuts at the CFPB? / BCFP not CFPB / Sounding the Alarm on U.S. Debt / A Flow Servicing Platform Run by the GSEs / A New Hire for United Fidelity

Do federal deficits even matter anymore? Jeff Gundlach thinks so...


June 13, 2018 - IMFnews

When the Going Gets Tough, the Tough Cut LO Pay

Aggressive nonbank lenders are willing to offer 100 to 200 basis points per loan…


June 12, 2018 - IMFnews

Short Takes: No Relief in Sight for GSE Common / Pershing Square in a World of (GSE) Hurt? / JMP Likes Impac / Consumer Data Collection Returns to the CFPB / Plaza Home Promotes Fontaine

JMP likes the higher profit margins that accompany non-QM lending…


June 12, 2018 - IMFnews

Sierra Pacific Hires Ex-Stearns, Ex-Wells Executive Goulding

A 34-year veteran of the home lending industry, Goulding also worked for Wells Fargo Home Mortgage…


June 12, 2018 - IMFnews

Lenders Pessimistic About Profit Margins for 3Q18, Cuts to Staff Expected

Fannie Mae: “We expect this will prompt businesses to turn to cost-cutting..."


June 11, 2018 - IMFnews

Short Takes: Celebrity Wants to be a Player in Mortgage M&A / Commercial Bank Seeks Mortgage Company / Garrett on LO Pay / Genworth Sale Clears a Hurdle / Wells Fargo LO Bolts for Nonbank

Consultant Joe Garrett: "Salesmen don’t get paid less just because the company didn’t do well..."


June 11, 2018 - IMFnews

MBS and ABS Issuers Taking Steps to Address Move Away from LIBOR

The banks that report rates that form the basis of LIBOR won’t be required to participate in the survey after 2021…


June 8, 2018 - IMFnews

What We’re Hearing: Time to Enter the Non-QM Market? / LoanScorecard is Bullish on the Sector / Citadel and AO Keep Humming Along / FTC Wants to Know More About How the RE Brokerage Industry Works / A Bunch of ‘Yes Men’ on the CFPB Advisory Board? / Mulvaney, Disruptor (And Loving It)

To conservatives in the financial services industry, Mick Mulvaney is a hero.


June 7, 2018 - IMFnews

Short Takes: CIT Exits Servicing Business / Hensarling and Godot / Sinking Share Prices for Fannie and Freddie / Who You Calling Small? / Cooper Labs?

If you’re looking for a barometer on reform legislation passing, just take a peek at the share price of Fannie and Freddie common.


June 7, 2018 - IMFnews

MBA Board Picks Veteran Mortgage Banker Broeksmit to succeed Dave Stevens as CEO and President

Broeksmit, who has spent his entire 33-year career in the mortgage industry, joins MBA from Treliant Risk Advisors...


June 6, 2018 - IMFnews

CFPB Disbands Consumer Advisory Board

“The bureau has not fired anyone,” a CFPB spokesperson maintained.


June 6, 2018 - IMFnews

Short Takes: Hey, Hands Off of GSE Multifamily / What Ed DeMarco Wanted To Do / Cuts at Stearns? / More Non-QM Lenders Target Self-Employed Borrowers / New Hires at Promontory MortgagePath

Over the years it seems as though commercial banks have basically ceded the multifamily market to nonbanks that use the GSEs as their secondary market takeout…


June 5, 2018 - IMFnews

Short Takes: Angel Oak Buys Stake in Commercial MB / Questions Being Asked about Trading in GSE Corporate Bonds / Texas Mortgage Shop Closes? / A New Hire for Pavaso

Another mortgage company has closed. This one in Texas...


June 5, 2018 - IMFnews

Guaranteed Rate Plots Growth with ‘Aggressive’ Recruiting of Underwriters, Processors

GR is aggressively recruiting mortgage processors, underwriters and secondary analysts...


Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results