Not only his Beltzman chairman, but his fund owns 19.8 percent of Walter...

The House Financial Services Committee this week passed the “SAFE Transitional Licensing Act,” H.R. 2121, which creates a 120-day grace period to let licensed mortgage originators continue originating loans after they leave a federally-insured institution and go to work for a nonbank. The bill was introduced by Rep. Steve Stivers, R-OH, in April 2015 to amend the 2008 Secure and Fair Enforcement for Mortgage Licensing Act. It would give loan originators who work for depository institutions and do not have to be licensed time to meet the licensing requirements that nonbank LOs have. Currently, bank LOs are registered...

At the March 2 HFSC mark-up, Rep. Stivers said H.R. 2121 will make sure that loan officers are able to move between jobs with a minimal amount of disruption.

Stonegate Mortgage, which lost $22.8 million during the first nine months of 2015, has yet to report fourth quarter results.

So far, only one of the two has released a position paper on housing issues (Hillary) while the other (Donald) should know quite a bit about housing, having constructed many condos and multifamily units in his day…

Among other things, the attorneys will represent clients in supervisory matters before the Consumer Financial Protection Bureau...

Ocwen's goal: to be a “world-class” company. But investors need convincing. Its stock is down 92 percent from its all-time high.

Carol Galante, former head of the FHA, has been named to Ocwen Financial’s board of directors. Galante left the FHA in August 2014 to take on the position of faculty director with the Terner Center for Housing Innovation at the University of California, Berkeley. Current director Phyllis Caldwell was elevated...

The Mortgage Bankers Association and other industry groups are strongly urging the Department of Labor to reconsider a proposed rule updating overtime regulations that currently exclude mortgage loan officers and certain categories of employees from overtime compensation. Officials reiterated the MBA’s position, which it clearly spelled out in a joint letter with other financial services trade groups in September last year objecting to the DOL’s proposed rulemaking regarding overtime exemptions for executive, administrative, professional, outside sales and computer employees. Among other things, the MBA, American Bankers Association, Independent Community Bankers of America, Financial Services Roundtable and The Clearing House cited...

“It is time to shrug off the naysaying consultants and lawyers who breed a culture of fear and hypothesized problems to hype their services,” Cordray added.