Browse articles from IMFnews related to Personnel.

February 22, 2018 - IMFnews

Citi Plans to Integrate its Mortgage Division into Retail Banking

Over the past year, Citi’s MSR portfolio has shrunk by a stunning 42.1 percent…

February 21, 2018 - IMFnews

Short Takes: IU Chief Pagliara Weighs in on Supreme Court Decision / Bill Ackman is Now Underwater on his GSE Bets / NAMB Wants Ban on ‘Trigger Leads’ / Ditech Names Interim CEO but Does He Get the $5 Million?

It appears that Pershing Square is now under water on its GSE investments...

February 20, 2018 - IMFnews

HFSC Chairman Hensarling Demands Explanation from Watt on Housing Trust Fund Payments

After a long hiatus, in 2017 Fannie and Freddie reinstated their first contribution to the National Housing Trust Fund, which amounted to roughly $186 million. Fannie plans to contribute $239 million to the trust funds this quarter, Freddie $114 million.

February 20, 2018 - IMFnews

Movement Mortgage Cuts 75 Jobs Due to ‘Operations Improvement’

Movement locked rates on $1.1 billion of mortgages in January, an 11 percent increase from the same month a year ago. It called the improvement an "indicator of future growth in February and March.”

February 16, 2018 - IMFnews

What We’re Hearing: Death, Taxes and the GSEs / Sweet Tax Cows / Not a Peep Out of Pershing Square and Fairholme / The Wrath of Jeb / MSR Market Heats Up / A Huge Profit for Annaly / Citizens Bank Gets a New Mortgage Chief

Suffice to say, Fannie and Freddie are two cash cows that only a crazy person would eliminate, unless that crazy person doesn’t like money…

February 16, 2018 - IMFnews

As Appraiser Shortage Worsens, Standards are Reduced

Under the new AQB standards, only an associate’s degree in a field related to the appraisal industry will be required…

February 15, 2018 - IMFnews

Short Takes: Is Mel Watt Dropping Hints? / A Utility Model for Fannie and Freddie? / Refi Applications on the Rise (Ever So Slightly) / No (Permanent) Ginnie Prez, No FHA Chief / Uber Executive’s Foray Into Mortgages

Joshua Rosner, managing director of Graham Fisher & Co., states: “This sounds like the early stages of a utility model..."

February 14, 2018 - IMFnews

Short Takes: Arch has Some ‘Fairly Well Developed’ Plans / Auditing the FHA MMIF / New Residential May Become a Player in Ginnie MSRs / Consumer Advocates Not Happy / Top VA Official Departs Agency for PenFed

Look for New Residential to become a buyer of Ginnie Mae servicing packages...

February 14, 2018 - IMFnews

Quicken Loses Another Top Executive, This Time EVP Pete Carroll

At Quicken, Carroll served as executive vice president where he helped develop the lender’s positions on key policy issues.

February 13, 2018 - IMFnews

Short Takes: The Trump Budget and the GSEs (Not So Good) / No More GSE Money for Affordable Housing / Treasury Wants to ‘Right Size’ Federal Housing Programs / Cuts in Store for the CFPB? / Arch Posts a Strong 4Q17 Profit

The Treasury Department's goal is to right-size federal housing programs...

February 12, 2018 - IMFnews

Short Takes: RESPA (TRID) Changes May Become Law / Watching the 10-Year (Rise) / Can Mulvaney Wear Three Hats? / Naming a Permanent CFPB Director / A New Hire for Silver Hill

Another day and another increase in rates...

February 12, 2018 - IMFnews

Radian Unveils Reorg On How it Sells MI and Other Products. Industry Vet David Kittle Comes on Board

Under the new sales approach, the RMs will head divisions that sell the entire suite of Radian products...

February 12, 2018 - IMFnews

Ocwen EVP of Lending Otto Kumbar Departs – and with a Nice Severance Package

Kumbar will be paid $1.25 million for leaving Ocwen, a package that also includes a relocation reimbursement…

February 9, 2018 - IMFnews

What We’re Hearing: America, a Good Mortgage Customer? / Higher Rates, but How Much Higher? / Mortgage Bulls / Three Former Clayton Executives Launch Due Diligence Firm / Santander’s Warehouse Chief Departs / Mel Watt’s Successor Might…

The new game in town is figuring out who will succeed Mel Watt as director of the Federal Housing Finance Agency...

February 8, 2018 - IMFnews

Short Takes: The Top VA IRRRL Lenders / Tax Cuts Coupled with More Government Spending, a Recipe for Disaster? / If Habib’s Interest Rate Prediction Comes True, Watch Out Below / CFPB Wants Feedback on Enforcement Processes / A New Title for Amy Brandt

Analyst Barry Habib of MBS Highway told us last week that once the yield breaks above 3.00 percent it’s only a matter of time before it hits 3.80. Just think of what that might do to the mortgage business…

February 7, 2018 - IMFnews

Guaranteed Rate Hires Quicken Executive as New President of Online

At Quicken, Lombardi served as director of mortgage banking.

February 6, 2018 - IMFnews

Short Takes: What Stock Market Correction? / Bond Prices? / Fretting Over Fannie-Freddie Common / The GSE Message from Jeb and Steve / BlackRock Likes Genworth / New Penn Gets a New President / FSR Chief Pawlenty Departs

The price of Fannie Mae and Freddie Mac common is getting smacked around...

February 6, 2018 - IMFnews

Despite Anticipated Production Downturn, Mortgage Firms Paying up for LOs

One branch manager told Inside Mortgage Finance: “I get two calls per week from headhunters and recruiters. I’ve never seen recruiting so hot.”

February 5, 2018 - IMFnews

Short Takes: Ginnie is Good, but is it That Good? / Brunts Bolts Freddie for USB / Moody’s Downgrades New Rez, Citing Reliance on Subs / The Wild Ride of the 10-Year Treasury / New Mortgage Chief at SunTrust

On Friday, Moody’s downgraded the issuer rating of New Residential Investment Corporation...

February 2, 2018 - IMFnews

Walter’s $5 Million CEO Tony Renzi to Depart. No Successor Named

Among servicers, Ditech ranked 11th at Dec. 31, according to figures compiled by Inside Mortgage Finance.

February 1, 2018 - IMFnews

Walter’s $5 Million CEO Tony Renzi to Depart. No Successor Named

Among residential servicers, Ditech ranked 11th at yearend, according to figures compiled by Inside Mortgage Finance.

February 1, 2018 - IMFnews

Short Takes: Mortgage Trouble at SoFi / Thin Margins / Ex-Fannie Mae Worker Indicted / Mortgage M&A in New England / A New Hire for Bay Equity Home Loans

One executive familiar with SoFi’s residential business said the company is operating on razor thin profit margins…

February 1, 2018 - IMFnews

Trump White House Working on a ‘Short List’ to Replace FHFA Director Mel Watt?

Calabria is a former director of financial regulation studies at the Cato Institute, a conservative think tank that would like to do away Fannie and Freddie…

January 31, 2018 - IMFnews

PHH CEO Robert Crowl Gets a New Contract, Could Earn $2 Million-Plus This Year

Over the past two years, PHH has sold off large chunks of its MSR portfolio, while remaining as the subservicer of record…

January 30, 2018 - IMFnews

Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...

January 30, 2018 - IMFnews

Dever, Iannicola Latest Additions to Short List for CFPB Director. Or Maybe Jerry Buckley?

“Jerry Buckley would fit the bill perfectly,” said one industry lobbyist...

January 30, 2018 - IMFnews

Wells Fargo Names Michael DeVito Permanent Head of Home Lending

DeVito will report to Mary Mack, senior executive vice president of community banking and consumer lending.

January 29, 2018 - IMFnews

Short Takes: Women Mortgage Bankers Weigh In on Sexual Harassment / How the Survey was Conducted / Part of a Broader Conversation / A Whopper of an MF Loan Using Fannie Mae’s Money / NAR to FHFA: Reduce G-Fees Now / Mortgage Tech Vendor Gets New President

In total, 13.5 percent of the 2,000 women who were sent the survey responded.

January 29, 2018 - IMFnews

PIMCO in the Throes of Restructuring FGMC, Installs New President

One advisor familiar with the situation called the hiring of Samples and a recent batch of layoffs at FGMC, “a clean sweep of the corporate suite.”

January 26, 2018 - IMFnews

What We’re Hearing: When the GSE Status Quo Ends / Burn This / Peter Wallison for FHFA Director? / Painful Memories at MGIC (The First Cut is the Deepest) / A Spot Check on Mortgage Applications / A Promotion at WFG National Title

As for the FHFA position, several trade group chiefs fear that once Watt departs, the FHFA will be put in the hands of a Mick Mulvaney-type...

January 25, 2018 - IMFnews

Short Takes: You Cannot be a Guarantor and a Lender / Trade Groups on the Same GSE Page / NY Lender Opens New Office in NJ / A Strong Profit for Old Republic / DocMagic Reaches a Milestone

The Community Mortgage Lenders of America is also against the concept of guarantors being lenders or having lending affiliates.

January 24, 2018 - IMFnews

Short Takes: What if a ‘Conservative’ Ran the FHFA? / Maybe GSE Loan Limits Should be Lowered / Erbey Selling Ocwen Shares / The New Fed Chief and MBS Sales / English Update / A Chalupa with that MI Policy?

Selling shares in Ocwen Financial: Bill Erbey...

January 23, 2018 - IMFnews

Short Takes: An Ugly Few Months for Fannie, Freddie Common / Canary in a GSE Coal Mine: Layoffs at Pershing Square / GSE DTA Charges Coming Soon / Arch Cautious on NJ, CT / Hamilton Hires Ex-Warehouse Exec

Pershing Square plans to cut almost one-fifth of its staff. One of the casualties: Ackman’s personal driver…

January 22, 2018 - IMFnews

Short Takes: Fannie, Freddie and the Government Shutdown / Ginnie Mae Down to a Skeleton Crew? / Sorry, Call Later When We’re Open / But the CFPB is Open for Business / New LOs for Mortgage Network

HUD tells the mortgage industry: “Due to the federal government shutdown, the information on this website may not be up to date…”

January 19, 2018 - IMFnews

What We're Hearing: GSE Reform is Dead, Here’s Why / Okay, Maybe a 20 Percent Chance of Passage / What’s Riskier? GSE Stock or Bitcoin? / Nonbank CEO Ready to Depart / Brett Hively Resurfaces / FHA and the Government Shutdown

The White House may be committed to GSE reform, but Republicans are not...

January 18, 2018 - IMFnews

Short Takes: House GSE Bill Due by Mid-March? / Providing Technical Assistance: the Staff of the FHFA / Time for a Pay Raise for Layton and Mayopoulos? / Hiring Underwriters from Wells Fargo / CFPB’s Mulvaney to Yellen: I Don’t Need Your Money (Right Now)

If a GSE reform bill does not get signed into law this year, how much longer will the CEOs of Fannie Mae and Freddie Mac stick around?

January 17, 2018 - IMFnews

Short Takes: Freddie Mac, an Actual Lender? / GSEs Working to Revise MI Rescission Relief Policies / The Last Time I Saw Richard / MIAC Selling $71MM of RPLs / Movement Hires Chief Credit Officer

Fannie Mae and Freddie Mac are working with the nation’s mortgage insurance firms to revise rescission relief principles...

January 17, 2018 - IMFnews

HUD Secretary Carson Sets Up ‘Order of Succession’ at Ginnie Mae. First Up: Michael Bright

The Trump White House was slated to nominate mortgage banker David Kittle to head the agency but back in November he grew tired of waiting and withdrew his name from consideration.

January 16, 2018 - IMFnews

Short Takes: GSE Reform, Yes. Passage? No / Galton’s Return to Nonprime / Citi’s Incredibly Shrinking MSR Portfolio / Legislative Reg Relief On the Way? / English Wants Expedited Review in CFPB Appeal

GSE reform may emerge from the Senate Banking Committee, but as for final passage...


How many new retail loan officers (net) is your shop looking to hire in the first quarter of 2018?

1 to 10. We’re being careful.
11 to 30. We’re feeling slightly bullish.
31 or more. We’re in expansion mode.
None. We’re staying right where we are, for now.
We’re cutting back.

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