Browse articles from IMFnews related to Personnel.

January 18, 2019 - IMFnews

What We’re Hearing: GAO Worries About Fannie & Freddie / The Return of Jeb Hensarling / Top-Ranked Nonbank Enters the HELOC Market / Quicken Courts the Refi Market / Eddy Perez to Head MORPAC / Take Our Salary Survey

The title of the new GAO report says it all: The Prolonged Conservatorships of Fannie Mae and Freddie Mac...

January 17, 2019 - IMFnews

Mortgage Employment Falls to 10-Month Low

Conventional lenders will have a tougher time of it this year...

January 17, 2019 - IMFnews

Short Takes: A Landmark Non-QM MBS from Angel Oak / Better Mortgage Sees Furloughed Government Workers and Comes Up with a Product to Serve Them / Retail Declines at BB&T / Seterus Hands Out Pink Slips to 300 / MGIC’s Results / MBA Promotes Knowlton

The Seterus platform will cut 300 full-time workers in the Durham area. The unit is being sold to Mr. Cooper...

January 16, 2019 - IMFnews

Short Takes: Mr. Cooper Cuts Jobs in California / Blackstone’s Finance of America Unit Will Close Roseville Office / loanDepot Courting Wells Fargo LOs? / Freshman Socialist Will Sit on the HFSC / A New Hire for Nations Lending

Socialist Rep. Alexandria Ocasio-Cortez, D-NY, will sit on the House Financial Services Committee, which oversees banking, mortgages, as well as Fannie Mae and Freddie Mac.

January 15, 2019 - IMFnews

Short Takes: Worrying About What Mark Calabria Might Do / Ever Seated? / A Price War Brewing in Non-QM? / Tim Anderson’s Blockchain Job / Freddie Gets a New General Counsel

We understand a bit of a price war may be brewing in the non-QM market...

January 11, 2019 - IMFnews

What We're Hearing: The Otting Era Commences / Waiting on the Senate (It Didn’t Work for Michael Bright) / 11 Days In and All Shook Up / HFSC Chair Worries about Furloughed Workers and Delinquencies / Keep an Eye on Jan. 15 / The Milken Institute Weighs in on ‘Administrative’ Reform of the GSEs

We’re just 11 days into the new year and already things are getting interesting in the mortgage industry...

January 11, 2019 - IMFnews

What Michael Bright’s Resignation Might Mean for GSE Reform

The odds of GSE “recap and release” becoming a reality just went down…

January 10, 2019 - IMFnews

Short Takes: Who Is Maren Kasper? / Not Shy / Headed to the White House? / GSE ‘Recap and Release’ Just Got Knee-Capped / IMA Offers Bulk MSR Package

With Michael Bright's departure, GSE "recap and release" just got hurt...

January 10, 2019 - IMFnews

Acting Ginnie Mae President Michael Bright Bolts Agency for SFIG

Bright will earn significantly more working for SFIG than at Ginnie, easily doubling his salary and then some...

January 9, 2019 - IMFnews

Market Shocker: Ginnie Mae Interim President Michael Bright Quits

Bright was first nominated to the post by President Trump in May of last year. He had been serving as an EVP at Ginnie.

January 9, 2019 - IMFnews

Short Takes: UWM Removes LLPAs on Certain Loans / New Mortgage Applications Come Roaring Back / Tempering Optimism with a Government Shutdown / Seterus’ Leslie Peeler? / Complaints Registered

Four years ago, Leslie Peeler, the Fannie Mae senior vice president in charge of the GSE’s servicing decisions, left the mortgage giant for Seterus.

January 8, 2019 - IMFnews

Short Takes: $249 Million in Mortgage Payments at Risk? / Will Trump Order Fannie and Freddie to Stand Down? / Assessing Mark Calabria / Lovell Buys ATTOM / LoanLogics Hires Mortgage Tech Vet

Overwhelmingly, industry analysts expect Mark Calabria to shake things up at the Federal Housing Finance Agency – that is, once he’s approved by the full Senate.

January 8, 2019 - IMFnews

BB&T Quietly Cuts Mortgage Staff Including Correspondent Manager

The RIFs at BB&T started in December and more are expected...

January 7, 2019 - IMFnews

Short Takes: IRS Cranks Up the IVES Machine Again / Otting at FHFA, Day 1 / AltLoan Enlists a New Capital Markets Partner / 45 Percent Plan to Enter the Non-QM Space This Year / Academy LO Joins Bay Equity Home Loans

Roughly 45 percent of respondents said they definitely will enter the the Non-QM market this year.

January 7, 2019 - IMFnews

CMG Mortgage Expands in the Northeast, Assumes 14 RPM Branches

RPM CEO Rob Hirt was good-natured about the departures: “I wish CMG continued success into 2019…”

January 7, 2019 - IMFnews

loanDepot Hires Caliber Executive John Bianchi to Head National Sales

loanDepot founder and CEO Anthony Hsieh: “We believe in distributed retail…”

January 4, 2019 - IMFnews

What We’re Hearing: Top Production Exec Ready to Depart? / The Mel Watt Era at the FHFA is About to End / Will IBM do to Promontory What it Did to Seterus? / Ugly Mortgage Job Numbers / Selling Ditech Shares / Dynex Hires Dave Stevens as a Director

One former Fannie Mae executive familiar with Seterus opined that IBM likely received “pennies” compared to what it invested in Seterus...

January 2, 2019 - IMFnews

Short Takes: A Government Shutdown-Related Reminder from Fannie Mae / A Fundraising Record for MBA’s MORPAC / Rising Worries, Falling Rates / Nervous / AI Gets a New (Annual) President

At press time, the yield on the benchmark 10-year Treasury was at 2.67 percent, the lowest reading in almost 12 months…

January 2, 2019 - IMFnews

Loan Officer OT Pay Case Sent Back to Lower Court, Dealing a Blow to LOs

According to the ruling by the appeals court, Citizens pays its LOs $11.50 an hour along with commissions based on volume…

January 2, 2019 - IMFnews

PennyMac Financial Cuts New Employment Deals with Top Officers

Kurland was given an annual base salary of $900,000 from Jan. 1 of this year until Dec. 31, plus cash and equity incentives.

January 2, 2019 - IMFnews

Employee Satisfaction at the CFPB Plunges

A CFPB spokesperson said that 2018 was, no doubt, “a tumultuous year of great change.”

December 31, 2018 - IMFnews

Short Takes: Worrying About the IRS / NRMLA Talking to Members about the HECM Situation / Most Underwriting Can Continue / Mnuchin’s Future / OCC Hires SBC Attorney

Capital Alpha Partners: “Mnuchin’s job is in danger the same as any cabinet member under Trump...."

December 27, 2018 - IMFnews

Short Takes: Wells Fargo Executive Takes a Job with UCM / The NAR is Not Happy with FEMA / No Word From Peter Bell and NRMLA / Fannie Mae Director Haywood Moves On / Trouble in the Sandbox

The National Association of Realtors is none too happy with FEMA's actions during the government shutdown...

December 27, 2018 - IMFnews

Democrats Take Issue With Mulvaney’s Past Moves at the CFPB, MLA Becomes a Focus

Roughly 24 Democrats, led by Rep. Maxine Waters, CA, recently sent a letter to Kraninger arguing that the CFPB has the authority to supervise entities under the MLA.

December 26, 2018 - IMFnews

Short Takes: Trouble Ahead for FHA? / Steve Mnuchin’s Christmas Eve Massacre / Significant Players in the Mortgage Market / Who Knows / Who Put the Thought in the Treasury Secretary’s Head? / Craig Phillips Rising? / A New Hire for StoneHill

Was it Mnuchin’s idea to call the six bank CEOs or did President Trump put him up to it? That storyline has yet to be fully explored…

December 26, 2018 - IMFnews

Dems Select Rep. Waters as the First Woman Chair of the HFSC, Mulvaney Put on Notice

Rep. Waters to Mick Mulvaney: “I am writing to inform you that while your time running the Consumer Bureau may be over, the time for accountability for your actions is about to begin.”

December 21, 2018 - IMFnews

What We’re Hearing: The Senate Waiting Game and Mark Calabria / What Might Mnuchin Come Up With? / Otting and Mnuchin and One West / Angelo Mozilo Makes it Rain Once More / MorVest’s MSR Auction / George Bailey Lives (A VA Story) / A Short Publishing Break

The news of Otting’s appointment and what might transpire afterwards did nothing to boost the share price of Fannie and Freddie common...

December 21, 2018 - IMFnews

As Expected, OCC Chief Otting Tapped by White House to be Interim FHFA Director

Joseph Otting will be joining the Trump administration's "two-hat" club...

December 21, 2018 - IMFnews

Not Going Anywhere: HUD Secretary Ben Carson

Meanwhile, acting Ginnie Mae President Michael Bright still awaits Senate confirmation, even though he was officially nominated to the post by President Trump on May 15.

December 20, 2018 - IMFnews

Short Takes: loanDepot CEO: Nothing but Blue Skies for Loan Officers / It’s Not Cancelled Until It’s Cancelled / An Op-Ed Counterweight / A Pile of Coal for Stocks / Second LP Analogies / Don’t Look at the Dow / A New CEO for PRMI

Hindes’ piece is entitled “Fannie and Freddie didn’t get a bailout. It was a stick-up.”

December 19, 2018 - IMFnews

Short Takes: Do GSE Servicers Need to Worry About Liquidity? / MF Cap Set at $35 Billion / New American Buys Minnesota Lender / Humble Beginnings / Kraninger Will Keep the CFPB Name / BoNY Mellon to Enter Non-Agency Market as Master Servicer

Liquidity means access to cash – and is a chief concern of Ginnie Mae acting president Michael Bright as well…

December 19, 2018 - IMFnews

PRMI President and CEO Dave Zitting to Depart After Selling His Stake in the Lender

Founded 20 years ago, PRMI is a retail-only lender that funded $3.7 billion through the first nine months of 2018…

December 18, 2018 - IMFnews

Short Takes: Freddie Mac’s New CEO? / Jeb’s Last Stand? Maybe Not / A ‘Comical’ Situation / A Low Grade for Hensarling? / Fannie’s New Chairman

As one veteran industry lobbyist explained with a hint of ire: “You’re telling me that a bunch of lame duck Congressmen who lost an election are going to show up on the Friday before Christmas?”

December 18, 2018 - IMFnews

Speculation Centers on Clinton Jones for FHA Commissioner

Clinton Jones has worked for the HFSC since February 2013. From 2007 to 2008 he was a registered lobbyist for Fannie Mae.

December 17, 2018 - IMFnews

Deputy HUD Secretary Pam Patenaude Quits After 15 Months on the Job

She brought a certain depth of knowledge to the table for her boss, Ben Carson, a career brain surgeon with little in the way of housing and mortgage experience.

December 14, 2018 - IMFnews

What We’re Hearing: FHA Loan Limits / What a Shutdown Means / The Return of Angelo Mozilo / The Finger of Blame Points to Wall Street / New Disclosures from Ditech / A Subservicing Business Dominated by One Client

The panel Mozilo spoke on was billed: “Join two titans of the industry as they discuss the past, present and future of the mortgage industry.”

December 14, 2018 - IMFnews

A Kinder, Gentler CFPB Under Kathy Kraninger? BCFP or CFPB?

Kraninger said she will make a “near-term” decision on changing the agency’s name…

December 13, 2018 - IMFnews

Short Takes: Headed Into Receivership: Fannie and Freddie? / Politically Pragmatic / No Life in the Common / Coming Soon: A Platform Closure at Ocwen / A New 52-Week Low

Federal Financial Analytics calculates the trigger will be pulled by mid-2019.

December 13, 2018 - IMFnews

Mr. Cooper Lands New Vice Chair and CFO – for $4.3 Million a Year

Marshall has a long resume in financial services, including stays at Bank of America, The Blackstone Group and other shops…

December 12, 2018 - IMFnews

Short Takes: loanDepot Loses its Product Chief / Bill Dallas and Cloudvirga / Kudos on the Calabria Pick from HFSC Chairman Hensarling / A Candidate Himself Once? / A New Hire for Vendor Valuation Partners

Cloudvirga, at one time, was headed by industry veteran Bill Dallas...

December 12, 2018 - IMFnews

Pick of GSE Critic Mark Calabria Will Mark a New Era at the FHFA

Tom Piercy of Incenter Mortgage Advisors: “Calabria is not an advocate for our industry – but he is also being appointed by the president, who does not want housing to falter between now and 2020.”

December 12, 2018 - IMFnews

New CFPB Chief Plans a Three-Month ‘Listening Tour’

Kraninger on the recent name change of the agency: “I care more about what the agency does than what it is called…”

December 12, 2018 - IMFnews

Cost-Benefit Analysis Likely Focus of New CFPB Leadership

The annual salary for the assistant director to head the office of cost-benefit analysis is between $200,595 and $247,500.

December 12, 2018 - IMFnews

It’s LO ‘Recruiting Season’ and That Means What?

It stands to reason that with production declining mortgage firms might have the upper hand over their sales personnel, but it’s never that simple...

December 11, 2018 - IMFnews

It’s Official: Trump Picks GSE Critic Mark Calabria to Head the FHFA

The nomination had been expected for several weeks now and paves the way – quite possibly –for limitations on GSE pilot programs, loan parameters and secondary market liquidity.

December 11, 2018 - IMFnews

One GSE Shareholder Speaks Up: Calabria Will be Constrained in His Mission to Dissolve Fannie and Freddie

James Fenkner says Calabria will be “constrained in his mission to dissolve Fannie and Freddie.”

December 10, 2018 - IMFnews

Short Takes: Hope in Cash-Out Refis / loanDepot’s Refi Stats / Position Filled / Chicago-Area Lender Gets Fannie Mae Approvals / More on Calabria and the FHFA Job / Mulvaney, Mnuchin Up for the Chief of Staff Job? / Waterstone Hires Rocky (Rockwell)

Fannie Mae has approved Neighborhood Loans, Lombard, IL, as a new seller/servicer...

December 7, 2018 - IMFnews

What We’re Hearing: Mark Calabria to Head the FHFA (Looks That Way) / Can Mulvaney Fix the U.S. Debt Problem? / Keeping the Debt Clock at the HFSC? / Kraninger Yes, Michael Bright No / Nomura and Ditech (More) / CMG Mortgage Hires Regency Executive / Home Point Goes All-TPO / The Midwest Mortgage Mecca

If Michael Bright is not confirmed in the current Congress, President Trump will have to re-nominate him...


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