What We’re Hearing: Is the CFPB Ready to Tweak the QM? / Fools in GSE Love: Ralph Nader and New York Hedge Funds / Banks Cutting Back on MBS / Nationstar Too Suspends Foreclosures / About that Big Flagstar MSR Sale / The New York Times Gets Its Penny May 24, 2013 Is Ralph Nader in bed with hedge funds over Fannie Mae and Freddie Mac? Mortgage banking can make strange bed fellows.Read More
Citi Names Private Bank Chief to Head Mortgages, More Jumbos? May 21, 2013 Paul Muolo Will CitiMortgage be an even greater player in jumbo lending with its new CEO?Read More
Short Takes: New York Slow on Loan Officer Approvals / GSEs Win Transfer Tax Case / Will the CFPB Unionize? / City National Enters Warehouse Space / Fay Servicing to Ramp up Hiring May 21, 2013 Paul Muolo, Thomas Ressler, and Charles Wisniowski New York State may be among the worst in the nation when it comes to approving loan officer applications.Read More
Sen. Reid Won’t Give Up on Confirmation Hearing for Cordray May 20, 2013 Thomas Ressler Sen. Harry Reid is vowing that CFPB director Richard Cordray will get another vote in the Senate. Read More
Watt FHFA Nomination Hearing Won’t Come Until Mid-June, a ‘Plan B’? May 20, 2013 Charles Wisniowski Progressives and other “Dump DeMarco” advocates are looking to a “Plan B” to replace the current acting head should Rep. Mel Watt’s nomination be significantly prolonged or even stall. Read More
SunTrust Hires Former CitiMortgage Executive to Run Retail Mortgages May 14, 2013 Paul Muolo Jeffrey Walker, the new head of residential retail for SunTrust, has worked for such lenders as CitiMortgage and Wells Fargo. Read More
Short Takes: Sen. Franken Tries to Tell Wall Street How to Rate Deals / Impac Rewards Top Executives Nicely / A New Player in Warehouse Lending? / 360 Mortgage Continues to Expand in Wholesale / Two New Subcoms from MISMO May 14, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler If. Sen. Franken has his way, the MBS rating system will change. Meanwhile, top executives at Impac Mortgage clean up.Read More
Short Takes: $750 Million of NPLs to Bid This Week / Two Harbors in the Hunt for ‘Re-performing’ / Investors Will Continue to Dump Non-Agency MBS / NAFCU Upset with FHFA Edict on QM / Former Ally Executive Gets Hired by MBS Group May 8, 2013 Brandon Ivey, Paul Muolo, and Thomas Ressler A $750 million offering of nonperforming mortgages is expected to go down this week. Meanwhile, NAFCU is mad at FHFA over the QM rule.Read More
Nationstar to Buy Direct-to-Consumer Lender, Increases Flow MSR Goals May 7, 2013 Paul Muolo Nationstar Mortgage is getting serious about the origination business. On Tuesday it revealed plans to purchase a high-volume call center operation.Read More
Caliber Enters the Correspondent Channel, Taps PennyMac Executive May 7, 2013 Paul Muolo Caliber Funding sees a huge opportunity in correspondent lending.Read More
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