Wells, BofA, and Citigroup Trim Mortgage Workers, More on the Way? July 22, 2013 Paul Muolo Some of the nation's largest home lenders are beginning to cut mortgage workers as refinancing applications swoon. Read More
Short Takes: Higher Rates Good for Nonprime / Denali CU Keeps its Mortgage Powder Dry / HUD Goes Dark for a Day / The General Public Hates Fannie, Freddie / Congress, Hot Weather and Housing Issues July 22, 2013 George Brooks, Paul Muolo, and Charles Wisniowski Loan applications are strong at Citadel, a newly launched nonprime lender. HUD goes on furlough for a day.Read More
What We're Hearing: Industry Facing 40 Percent Layoffs? / Movement Mortgage Trims Staff / Mel Watt to the Rescue? / 125 Percent LTVs are Back, No Not HARP / HUD Auctions Off More than $3 Billion of NPLs / Hensarling Schedules Markup of GSE Bill July 19, 2013 Fear and loathing in the mortgage job market? Movement Mortgage has let several mortgage workers go. Can looser underwriting standards save the day? Read More
Short Takes: J.D. Power Gives Nationstar and Ocwen Poor Servicing Grades / Watt Approved by Senate Banking Committee / Zandi Slams Hensarling Bill / GAO Will Investigate CFPB’s Data Collection Efforts / Bad Debt Up in Value July 18, 2013 Brandon Ivey, Paul Muolo, Thomas Ressler, and Charles Wisniowski Nationstar and Ocwen get poor servicing grades from J.D. Power & Associates. Meanwhile, Rep. Mel Watt headed to FHFA? Not so fast...Read More
Short Takes: Cordray Confirmed as CFPB Chief? / LPS Looked at Buying Mortgage Cadence / Joe Garrett Tells Lenders to Cut Now / Allonhill Starts Hiring / Fannie Says Market Could Move Toward ARMs July 16, 2013 Paul Muolo and Thomas Ressler Accenture is making major inroads in the residential finance space with its purchase of Mortgage Cadence. Meanwhile, Fannie says market could move toward ARMs.Read More
Senate Banking Committee Expected to Clear Watt’s FHFA Nomination, But… July 12, 2013 Charles Wisniowski The Senate Banking Committee is expected to advance Rep. Watt’s nomination to the Senate floor, strictly along party lines. Read More
What We’re Hearing: A $30 Billion MSR Deal Hits the Market / Wells Amps Up the Value of its MSRs / Subprime: Lots of Interest, Not Many Lenders / Hensarling Bill Will Be a Raisin Soon / Jumbo Whole Loans Fail to Trade July 12, 2013 Hedge funds continue to salivate over mortgage servicing rights. Meanwhile, the Hensarling GSE bill goes down like a Led Zeppelin.Read More
Carrington Mortgage EVP Rick Sharga Departs for Auction.com July 11, 2013 Paul Muolo Over the years Sharga has briefed government organizations such as the Federal Reserve and Senate Banking Committee.Read More
Short Takes: How Much Does Your Mortgage CEO Make? / Georgia Lender Blows Up? / The Fear of Eminent Domain Lives On / Total Mortgage Services Plans to Buy a New HQ Building July 8, 2013 George Brooks and Paul Muolo New report sheds light on how much nonbank mortgage workers earn.Read More
FHFA IG Steve Linick May be Departing for State Department Post July 1, 2013 Charles Wisniowski A former federal prosecutor, Linick is credited with creating the agency’s Office of Inspector General from the ground up.Read More
RSS