Short Takes: JPM Sold Servicing to Nationstar? / IMA Will Still Sell Distressed Product / Ocwen Quietly Peddling Servicing? / Head of Retail at Guaranteed Rate Walks / $7MM to Get Deals Rated? / FHA Update January 22, 2015 George Brooks, Brandon Ivey, and Paul Muolo Thomas Gamache, national director of retail sales for Guaranteed Rate, has left the company and accepted a position with Citizens Financial Group...Read More
CFPB Cements Two Small Changes to the TRID January 21, 2015 Thomas Ressler After hearing from the industry, the CFPB determined that the short turnaround could pose challenges for lenders that allow consumers to lock rates late in the day or after business hours.Read More
Time for Young Blood in the Executive Suites of Mortgage Firms? January 21, 2015 Paul Muolo “I see a lull in aspiring new talent,” recruiter Rick Glass told Inside Mortgage Trends. Read More
Nonprime Lender Citadel Triples Production in 2014, May Do It Again January 21, 2015 Paul Muolo Roughly 5 percent of Citadel's production is retail with correspondent accounting for 7 percent. The balance entails table funding.Read More
S&P Settles Charges Regarding Ratings for Commercial MBS, Non-Agency MBS January 21, 2015 Brandon Ivey In settling, S&P did not admit or deny any of the allegations levied against the firm. Read More
Nonbanks See GSE Market Share Climb to 44.8 Percent; Freedom Stands Out January 21, 2015 John Bancroft Still, the four super-sized U.S. banks – those with more than $1 trillion in assets – continue to rank in the top five GSE sellers.Read More
Short Takes: Leon Cooperman Feels the Altisource Pain / CFPB Mum on Fixing Lender-Paid Comp / Former S&P Chief Under Fire January 21, 2015 Brandon Ivey and Paul Muolo Regarding Altisource, the phrase “catch a falling knife” comes to mind. Cooperman is the Chairman and CEO of Omega Advisors…Read More
Nationstar Closes on $8.5 Billion MSR Deal from ‘Top Four’ Servicer January 21, 2015 Paul Muolo Is Ocwen the seller of the MSRs?Read More
Mortgage Brokers Staged Comeback in 4Q14 with GSE Business January 20, 2015 John Bancroft Meanwhile, Fannie Mae and Freddie Mac continued to get less of their business from their five biggest customers.Read More
Citing FHA Premium Cut, Freedom Mortgage May Hire 500 January 20, 2015 Paul Muolo The 50 basis point cut in FHA premiums is spurring some firms, including Freedom Mortgage, to increase hiring.Read More