Short Takes: Stearns Gets Serious About Servicing / BofA Has High Delinquencies on Second Liens / FHFA Continues to Hunt for MBS Platform CEO / Akre Departs Trading Firm for Oak Circle / CFPB Frets About Pay Day Lenders April 24, 2013 Paul Muolo and Thomas Ressler Stearns Lending, one of the fastest growing servicers in the U.S., has hired a new manager to help it with servicing acquisitions. Read More
Short Takes: CFPB Showing Some Love for Banks / Fannie About to Award a Big Tech Contract? / FHFA Doesn’t Want Higher Minimum Net Worth / Home Buyer Traffic Spikes / 100 Percent LTV Loans Not on NCUA’s Radar? April 23, 2013 Paul Muolo Residential lenders can rest easy: the GSEs aren't about to hike their net worth minimums. Also: the CFPB shows some love to banks. Read More
House Banking Chairman Won’t Let CFPB’s Cordray Testify April 23, 2013 Thomas Ressler Although Rep. Hensarling rebuffed Cordray, the CFPB chief delivered the agency’s semi-annual report to the Senate Banking Committee Tuesday morning. Read More
Short Takes: Need Seller/Servicer Approvals? Bring Your Check Book / IMA Selling Ginnie Bulk MSR Deal / Fitch Worries About CMBS / Will the Senate Grill CFPB’s Cordray? / New Hire at WFG National Title April 22, 2013 Paul Muolo and Thomas Ressler Obtaining approvals to become a GSE seller/servicer can cost you, but think of the money you can make from owning servicing rights. Read More
What We’re Hearing: Fannie and Freddie Swamped with Seller/Servicer Apps / Is the G-Fee Hike Coming? / BofA and Fannie About to Make Nice on Purchase Loans? / Title Insurance Business Staging a Comeback / Michael Lau’s New Firm Inks a Deal to Bu April 19, 2013 Just how healthy is the residential mortgage business these days? Answer: Fannie Mae and Freddie Mac are swamped with seller/servicer applications.Read More
FHFA IG Says Agency Needs More Examiners April 18, 2013 Charles Wisniowski The Inspector General of the Federal Housing Finance Agency says the agency needs more examiners to keep an eye on the GSEs.Read More
FHFA Hires Search Firm to Find CEO for MBS Platform, Candidates Approached April 17, 2013 Paul Muolo CEO candidates are being approached by the Federal Housing Finance Agency to run the new single-GSE MBS platform.Read More
Short Takes: Nationstar Mortgage Directors Clean Up / Flagstar Selling MSRs / Walter Wants to Keep Some Secrets / BofA’s Hit on Countrywide: $41 Billion / CFPB Deputy Director Meets the Hill April 16, 2013 Paul Muolo and Thomas Ressler Four non-management directors at Nationstar Mortgage earned almost $1.5 million last year. Meanwhile, it appears Flagstar is selling some of its MSRs.Read More
If Mark Zandi Gets the FHFA Job, GSE Reform Could Come Within Two Years April 15, 2013 Charles Wisniowski It appears that well known economist Mark Zandi is indeed a candidate to head the Federal Housing Finance Agency. But will the White House actually nominate him? Read More
Short Takes: Will Congress Glom Onto Fannie and Freddie Earnings? / Questions About Loan Officer Compensation / Former MBS Chief Pleads Guilty / Carrington Expands in Wholesale April 15, 2013 Paul Muolo Now that Fannie Mae and Freddie Mac are earning a ton of money, who will have a say over what happens to that cash? Read More
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