Servicing

Fannie Mae CEO Tim Mayopoulos: Conservatorship has been very successful

On his last day as CEO, Mayopoulos looks back and looks ahead
Despite other prominent housing figures stating earlier that morning that the GSE conservatorship is unstable and undesirable, Fannie Mae CEO Tim Mayopoulos complimented the government on its decision to bail out the companies and place them in conservatorship for 10 years. "Conservatorship has been very successful," Mayopoulos said. "What the government did worked quite well."
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Fannie Mae selling $1.88 billion in non-performing loans to Goldman Sachs subsidiary

MTGLQ Investors is back
Over the last few years, Goldman Sachs’ subsidiary MTGLQ Investors has been one of the top buyers of non-performing loans from both Fannie Mae and Freddie Mac, buying billions and billions in loans from both of the government-sponsored enterprises. And now, MTGLQ is preparing to buy another $1.88 billion in non-performing loans from Fannie Mae.
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HousingWire's Mortgage Services Guide narrows down your loan servicing search

HW lists servicers that tailor to your specific needs
HousingWire’s Mortgage Services Guide is a one-stop shop for finding the service provider your business is looking for. This monthly blog will highlight different services, service providers and insights your business needs to stay compliant and efficient. Visit HW’s Mortgage Services Guide to start your search.
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Wells Fargo is back in the mortgage securitization business

Prepares to issue first securitization since the housing crisis
Once an absolute giant in the mortgage securitization space, Wells Fargo has been noticeably absent from the list of issuers since the housing crisis, but that’s all about to change. The lender is preparing to issue its first mortgage-backed securitization since the meltdown, and unlike its past securitizations, this one is backed by the highest of high-quality loans.
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LenderLive rebrands as Covius

Move signals company's focus on tech
LenderLive Holdings announced Tuesday that it has rebranded as Covius Holdings to reflect its strategy to provide enhanced technology solutions. The move comes just before the company sells its LenderLive Network to Computershare. “With the pending sale of our Network Division, we chose a new brand – Covius – that reflects our new strategic direction,” said Chairman and CEO Rob Clements.
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Fannie Mae CEO Tim Mayopoulos stepping down within days

Fannie Mae names Hugh Frater interim CEO
For the first time in more than six years, Fannie Mae will soon be run by someone other than Tim Mayopoulos. Back in July, Fannie Mae announced that Mayopoulos planned to step down “by the end of the year,” but did not specify a date for his departure. Now, Mayopoulos’ days as Fannie Mae’s CEO are numbered – literally.
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NYSE parent company ICE acquires MERS

ICE buys remaining stake in mortgage registry
Intercontinental Exchange, the parent company of the New York Stock Exchange, is now also the parent company of MERSCORP Holdings, as the companies announced Friday that ICE has acquired all of MERS.
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Ocwen completes $360 million acquisition of PHH, Glen Messina takes over as CEO

Former PHH CEO assumes leadership of newly combined company
PHH Corp. is now officially part of Ocwen Financial, as Ocwen’s $360 million acquisition of PHH is now complete, the companies announced Thursday morning. But those aren’t the only big changes for Ocwen and PHH. In conjunction with the deal’s closing, former PHH CEO Glen Messina has officially taken over as president and CEO of Ocwen.
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Baseline stakes its claim in HECM space

Offers reverse companies data and insight to fine-tune their business
Analytics provider Baseline is staking its claim in the reverse mortgage space. The firm offers clients a deep dive into HECM data with origination trends, performance stats and endorsement info – and companies are taking note. Baseline launched two years ago, but it took time for the company to gain traction. Now, President Dan Ribler said it has picked up significant market share.
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Bernie Sanders wants to break up the nation’s biggest banks (again)

Sanders repeats campaign call to break up big banks
Back when he was a presidential candidate, Sen. Bernie Sanders, I-VT, called for sweeping reforms to the nation’s financial system, including breaking up the big banks. And now, he's at it again. On Wednesday, Sanders announced that he is introducing the “Too Big to Fail, Too Big to Exist Act,” which would break up JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
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