Personnel

Browse articles from IMFnews related to Personnel.

May 21, 2018 - IMFnews

Short Takes: The Senate Could Vote on Brian Montgomery Soon / House to Take up the Reg Relief Bill / Foreclosure Timelines Extended For Disaster-Area Homes / What’s Next for the CFPB Payday Lending Rule

Senate Majority Leader Mitch McConnell, R-KY, announced to take a vote on the nominee for FHA commissioner, Brian Montgomery. Given the other nominations already in the Senate floor queue, the vote is expected to occur sometime in June…


May 16, 2018 - IMFnews

Short Takes: Time to Change the QM Rule? / Bright Tapped to Head Ginnie / MSR Sellers Sitting Pretty? / After the Recession… / Applications Decline Again / NAR’s Chief Lobbyist Sets Retirement Date

Residential firms looking to sell mortgage servicing rights are in a sweet spot right now. However...


May 16, 2018 - IMFnews

HomeStreet Contemplates Selling a $5 Billion Package of Servicing Rights

HomeStreet restructured its mortgage business last year…


May 15, 2018 - IMFnews

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...


May 15, 2018 - IMFnews

New Rulemaking Agenda Suggests a Restrained Role for the CFPB

The updated agenda is the CFPB’s first under Mulvaney’s leadership.


May 14, 2018 - IMFnews

Short Takes: Ditech Ready to Roll Out Jumbo Product? / Who is Samuel Martini and Why Does he Like Ditech? / An Explanation of Legal Risks / What’s $164 Trillion Among Friends?

Total U.S. debt outstanding is just over $21 trillion. Prior to the financial crisis, U.S. mortgage debt was actually larger than Treasury debt...


May 11, 2018 - IMFnews

What We’re Hearing: Anxiety Rising Regarding GSE Reform / Higher G-Fees? No More Cash-out Refis? / What Mick Mulvaney Might Do if He Headed the FHFA / Mulvaney’s PADs / Layoffs at Impac

Surely, conservatives are applauding the way Mulvaney is trying to remake the Consumer Financial Protection Bureau...


May 10, 2018 - IMFnews

Short Takes: Impac Employees Looking Around? / Ex-CFPB Chief Cordray Wins in Ohio, but… / Will Warren Pick Cordray to Head the CFPB (Again)? / AIG Unit Readies Jumbo MBS / PennyMac Restarts Jumbo Unit

Cordray was never popular in the mortgage industry because of all the regulations he heaped on lenders and servicers...


May 9, 2018 - IMFnews

Short Takes: Caliber Brings Ginnie MSR Deal / The Nation’s Highest Paid Loan Broker: Doug Lebda ($59M) / Ex-Fannie Exec a Candidate for FHFA Job? / The PHH Head Count

It was a nice pay check last year for LendingTree founder and CEO Douglas Lebda...


May 8, 2018 - IMFnews

Short Takes: Ditech Sets Comp Package for New CEO Marano / Share Price Struggles / Two Ditech Directors Take Home the Bacon / GE Sets Aside $1.5B for WMC Settlement / Better Hires CFO

Ditech directors – George Awad and Neal Goldman – had pay packages of $573,700 and $553,500, respectively.


May 8, 2018 - IMFnews

New Residential Hires Fortress Executive David Schneider as New CAO

Fortress also controls roughly 500,000 shares of New Residential's common stock and holds options on 18.1 million shares.


May 7, 2018 - IMFnews

Short Takes: Being in Debt to a GSE, Not So Bad / FHFA Approved the Product / Coming Soon: Large MSR Deals / Wedbush Drops Coverage of Capital One / RIP: Safeguard Founder Robert Klein

But before anyone gets too excited, the Federal Housing Finance Agency approved the Freddie initiative…


May 7, 2018 - IMFnews

Figuring Out Who Might Succeed Mel Watt as FHFA Director – It’s Complicated…

Also, there’s a growing fear that in the absence of Congressional action, a free-market leaning Treasury Department, in tandem with a Trump-appointed FHFA director, might alter the way GSEs operate...


May 4, 2018 - IMFnews

What We’re Hearing: The New MBA CEO Will Be… / A ‘November Surprise’ for GSE Reform? / Is it 10 Years Already? / What ‘Mr. Market’ Thinks of Fannie and Freddie / GSE CRT Deals, a Great Return? / NewDay in the Clear?

Here’s a prediction: GSE reform legislation will only pass if, and when, the Democrats take control of the House, Senate and the White House.


May 2, 2018 - IMFnews

Short Takes: What’s in a Name? / First, We Change the Name in the AP Style Book / CRL Wants FHA Changes / Fannie Tech Official Departs for Vendor

CFPB Acting Director Mick Mulvaney: “I don’t know why we call it the CFPB; that is not the name of the organization..."


May 2, 2018 - IMFnews

Impac’s Two $6M Men Got Their Pay Slashed in 2017

Impac has yet to disclose when it might release first quarter results.


May 1, 2018 - IMFnews

Short Takes: Freddie Mac Multifamily Continues to Shine, but… / UWM Rolls Out New Website / Seed Money / Nationstar Looking at a Large MSR Markup? / Mulvaney: I’m Not Running a Yelp / New Hires for Freddie, Angel Oak

Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...


April 30, 2018 - IMFnews

Short Takes: HUD Yanks Approvals on 23 Lenders, Most of Them Banks / Goldman Sachs, Warehouse Lender, but… / Rep. Waters None Too Happy with Mulvaney / A Document Dump is Requested / A Promotion at J.G. Wentworth

Rep. Waters wants CFPB acting director Mulvaney to turn over documents regarding meetings he's had with the industry...


April 30, 2018 - IMFnews

CMLA Picks Industry Vet Ed Wallace as New Director

CMLA favors a recapitalization and reform plan for Fannie Mae and Freddie Mac, one where they are transformed into “utilities.”


April 27, 2018 - IMFnews

What We’re Hearing: GSE Reform? How About 2021? / The Return of Ed DeMarco? / No Political ‘Protection’ for Fannie and Freddie / RMS Scores a Repo Line from Barclays / Bucking the Production Trend: Home Point / New Hires for Plaza Home

Mel Watt has roughly eight more months in office, but already industry lobbyists and GSE watchers are playing “guess who the next FHFA director might be.”


April 26, 2018 - IMFnews

Short Takes: Losses at Privately Held Shops? / Refis Near a 10-Year Low / Will the CFPB Target Rate-Lock Commitment Abuses? / Strong Earnings for Radian but Clayton a Drag / A New Hire for United Wholesale

Radian's mortgage and real estate services division – which includes due diligence provider The Clayton Group – continues to struggle...


April 26, 2018 - IMFnews

Sen. Brown Says CFPB Chief Mulvaney Must Go, Cites ‘Pay to Play’ Comments

Sen. Brown said he wants a new CFPB director, one with a moral compass…


April 25, 2018 - IMFnews

Short Takes: Another Milestone for Angel Oak / Going After Bayview? / Mortgage Layoffs at HomeStreet / Genworth Unveils Rate Card Reductions / A Promotion at PRMI

HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.


April 25, 2018 - IMFnews

PHH’s CEOs Took Home (Combined) $5.26 Million in Compensation Last Year

Crowl’s base pay for 2017 totaled $554,808 while Messina’s came to $485,962.


April 24, 2018 - IMFnews

Short Takes: In Service of Fannie, Freddie and the Common Good / Fannie Ponies up to the REITs / Amazon a Bank? Good Luck with That / NYDFS Investigates RTO / FofA Hires loanDepot Manager

A new policy change implemented by Fannie Mae will allow REITS, come May 1, to start investing in the GSE’s Connecticut Avenue Securities risk-transfer deals.


April 23, 2018 - IMFnews

PennyMac Executive Chairman Stan Kurland Took Home $9.5M in 2017

Last year, PennyMac, a publicly traded real estate investment trust, earned $102.5 million in 2017, a 35 percent improvement from the year before.


April 20, 2018 - IMFnews

What We’re Hearing: A Kinder, Gentler (and Smarter) Nonprime Industry? / Varde Raises $750 Million / Don’t Layer That Risk / When the Worm Turns… / At Ocwen, Former Government Officials Bring Home the Bacon / NSM Gets a New COO

The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.


April 19, 2018 - IMFnews

Short Takes: Tom Marano, Ditech’s $5 Million Man? / Ripe for a Major Disruption: The Subservicing Market? / Good News: Applications Rise / Rep. Waters Introduces FHA Bill / Ditech Gets a New COO

There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.


April 19, 2018 - IMFnews

Ditech Taps Bear Stearns/GMAC Veteran Thomas Marano as New CEO

Marano is no stranger to troubled financial service companies. Until 2008, he was a top executive at Bear Stearns...


April 19, 2018 - IMFnews

Surprise: Ron Faris to Retire from Ocwen; Former PHH CEO Messina Named His Successor

Faris is a 27-year veteran of Ocwen, a publicly traded nonbank launched several decades ago by former GE Capital executive Bill Erbey.


April 18, 2018 - IMFnews

Short Takes: FHFA IG Issues Heavily Redacted Report on GSE Cybersecurity / Ditech Worries about Cybersecurity / IBM Says Nothing About Seterus (Again) / What’s in a Title? Off with Their Heads!

As a practice, IBM rarely says a word about Seterus...


April 18, 2018 - IMFnews

MBA Casts the Net Far and Wide for New Chief. Jeb Hensarling?

The way things stand today, those finalists include at least two industry veterans…


April 17, 2018 - IMFnews

Nationstar CEO Jay Bray Cleared for a $4.25 Million Bonus

CEO Jay Bray was eligible for a maximum bonus of $6.90 million…


April 13, 2018 - IMFnews

What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows

Now comes the big question: How many more MB Financials are out there?


Poll

On average, how much of a commission does your shop pay loan officers per loan they originate ?

25 to 50 basis points.
51 to 100 basis points.
101 to 150 basis points.
North of 151 basis points. (We expect a lot.)
We pay salary, not commission.

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