Paul Muolo

We got us a government shutdown. Or maybe not. The story (to say the least) is fluid, but if Uncle Sam has to pull the plug on non-essential workers and programs what will become of FHA, whose money comes directly from the U.S. budget?

Two broker trade groups filed their arguments in an appellate court Tuesday morning, hoping to stop the Federal Reserve Board's controversial rule on how loan officers are paid. A decision could come by close of day.

Industry veteran Tom Wind, who recently departed as managing director of J.I. Kislak Mortgage LLC, Miami Lakes, is expected to be hired by EverBank Financial Corp., Jacksonville, Fla., according to industry officials familiar with the matter.

When it comes to the business of mortgage servicing now may not look like the best time to jump in.

Here's a pop quiz for readers of National Mortgage News: name one Wall Street or mortgage executive who's doing hard time for financial fraud as it relates to the nation's housing bubble/subprime crisis. Can't do it, can you.

Sometimes, when the government goes too far, the industry finds a way to cut "the man" out of the picture. No, I'm not talking about mortgage bankers taking up arms against the government, I'm talking about finding ways around "the man." (Mortgage banking is an art, not a science.)

Certain of the nation's megaservicers have agreed to sign a modified consent order with Federal regulators as part of a first step to inking a final settlement between the industry and 50 state attorneys general, sources familiar with the matter said on Friday.

This morning National Mortgage News was the first news organization to report that loan brokers won a stay against the LO compensation rule – but the battle is far from over. The stay expires next week with a new hearing on the squabble scheduled for April 5. (See the NMN website for a complete update.)

An appellate court in Washington late Thursday night granted a stay delaying implementation of the Federal Reserve's loan officer compensation rule until April 5.

Industry veteran Tom Wind is stepping down as managing director of J.I. Kislak Mortgage, Miami Lakes, Fla., after just four months on the job, according to industry officials who have been briefed on the matter.

Two brokerage trade groups are expected to file an appeal in Washington by close of business Thursday, challenging a ruling that paved the way for the Federal Reserve Board to proceed with its loan officer compensation rule.

The number of completed foreclosures in Massachusetts dropped by 44% in February to 515, down from 917 during the same month last year, according to new figures released today. Of course, the Massachusetts housing market is probably one of the healthier ones in the nation, which is why the decline in foreclosures is so steep.

The Department of Housing and Urban Development late Wednesday named former Freddie Mac executive Robert C. Ryan acting commissioner of the Federal Housing Administration, replacing the departing David Stevens.

U.S. District Court Judge Beryl Howell late Wednesday denied a preliminary injunction aimed at halting the Federal Reserve's loan officer compensation rule, dealing loan brokers a major blow.

Although federal regulators aren't giving many specifics as to how they might change servicing compensation, at least one participant in recent meetings with the government says they've decided on a number: 12.5 basis points.

It's not easy being a technology company these days. And it's not easy being a mortgage lender either. Although origination profit margins are still wonderful, applications are starting to thin out a bit. So, where does that leave technology firms that sell their products to the market?

U.S. District Court Judge Beryl Howell who is presiding over a lawsuit aimed at preventing federal broker compensation rules from taking effect April 1 said Tuesday she will rule "shortly" on the matter but offered no clear timetable.

Smaller, thinly capitalized investors in nonperforming mortgages could face liquidity concerns in the coming months as private equity investors begin to re-examine their commitment to the business while bolting for higher returns elsewhere.

The new risk retention/QRM proposals are out and it appears that mortgage insurers might be winners after all – over the short-term, that is. The draft notes that Fannie Mae and Freddie Mac will "be able to satisfy their risk-retention requirement...as long as they continue to operate under conservatorship or receivership."

Home values are falling in most major U.S. cities – except the nation's capital -- and the average price in four of them are at their lowest level in 11 years, according to the newly released Standard & Poor's/Case-Shiller home price index.