Graham Williams, CEO of Mortgage Resolution Partners, a firm that has achieved notoriety in the mortgage industry for trying to use eminent domain to seize underwater loans, is moving on. But that doesn’t mean the concept of municipalities using the legal strategy is going away. “I’m transitioning out of the CEO job,” Williams told Inside Mortgage Finance. “The company will continue on.” Asked whether a CEO search is underway, he said he didn’t know. As Inside Mortgage Finance went to press this week, there were...

“This situation consisted of sexually charged behavior and comments from the supervisory staff and participating mortgage bankers, which resulted in a sexist and uncivil atmosphere,” the EEOC said of the JPM workplace.

Federal regulators have, for all intents and purposes, completed their work on the qualified residential mortgage standard. This means the final rule’s release could be imminent.

An organization chart of the post-deal company provided to IMFnews has RFC’s Michael Isaacs being put in charge of “consumer direct” at PMAC.

The starting salary for the CEO is said to be about $450,000 plus benefits, which is roughly double what the new director of the Federal Housing Finance Agency, Mel Watt, earns.

A veteran player in the jumbo ARM market said one investment bank in particular has “had lots of layoffs.”

It's nice to know that some lenders are willing to take on risk. Check out the new FHA/VA product from New Penn Financial: a 560 FICO minimum.

At deadline we got wind of a former Wall Street investment banker who is setting up a fund to help independent mortgage firms (nonbanks) raise capital.

The FHFA’s final rule on golden parachutes applies to Fannie Mae, Freddie Mac, the Federal Home Loan Banks and the Office of Finance, as well as any “entity-affiliated parties,” including independent contractors.

Ocwen Financial will slow its acquisition of mortgage servicing rights this year. Does this portend a huge drop in deals? Don’t bet on it.