Paul Muolo

It’s starting to get a little crowded in the warehouse lending arena these days, or perhaps it only feels that way with more community banks jumping into the sector.The two latest entrants to warehouse lending include Republic Bancorp of Kentucky, and People’s United Bank, Bridgeport, Conn. (Both are publicly traded.)

THIS JUST IN: Loan brokers are starting to get a glimpse of their new wholesale contracts and the early reviews aren't good. One broker who works the mid-Atlantic market said he has reviewed three contracts so far (one from CitiMortgage) and the most he can make on any loan is 2% with a $7,000 maximum. If you care to share what you're seeing in your contracts drop me a line at Paul.Muolo@SourceMedia.com...

Kondaur Capital Corp., one of the better-known names in the nonperforming loan space, recently lopped off almost 40% of its staff, after complaining about a lack of available product to buy—which raises an obvious question: There aren't enough delinquent mortgages out there?

The National Association of Mortgage Brokers is contemplating suing the Federal Reserve Board over its looming loan officer compensation rule, according to trade group officials familiar with the matter.

Late this week rumors were floating around Washington that the final 'qualified residential mortgage' test rule might be released (unleashed?) in a matter of days. But apparently there's a hang up and mortgage lobbyists say it's FDIC chief Sheila Bair who is still insisting that servicing standards be addressed at the same time.

Freddie Mac late Thursday said Donald J. Bisenius, executive vice president of its single-family credit guarantee business, received a 'Wells Notice,' which means the Securities and Exchange Commission is considering filing civil charges against him.

Government controlled mortgage giant Freddie Mac posted a meager $113 million net loss in the fourth quarter — but actually earned $1.2 billion before having to pay the U.S. Treasury a hefty $1.6 billion dividend payment.

A handful of trade groups are about to send a letter to the Federal Reserve Board concerning its loan officer compensation rule. Their chief complaint (if I read the letter correctly) is the Fed's definition of "affiliate" which could spell major problems for Realty firms that broker loans — and lenders with title company affiliates.

Mortgage Industry Advisory Corp. this week sold a $527 million package of bulk servicing rights tied to Government National Mortgage Association loans.

Financial Services Committee Chairman Spencer Bachus on Thursday scheduled a hearing and markup for early March to consider four bills that would terminate government-backed loan modification/foreclosure prevention programs that he calls "failed and ineffective."

Fannie Mae on Wednesday unveiled a new incentive program to compensate its seller/servicers that help struggling mortgagors avoid foreclosure.

J.I. Kislak Mortgage LLC, Miami Lakes, Fla., by yearend hopes to at least triple the number of loan officers currently under its employ as it expands its retail mortgage franchise in Florida and other parts of the Southeast.

This morning oil prices were nearing $100 a barrel thanks to the political crisis in Libya combined, of course, with conflagrations all over North Africa and the Middle East. Normally, rising oil translates into price increases for new homes because it takes gasoline to ship building materials around the nation.

The Federal Housing Finance Agency Wednesday morning laid out its options for restructuring mortgage servicing compensation, including the possibility of eliminating the 25 basis point minimum paid on performing loans.

The Consumer Confidence Index rose in February to its highest point in three years, which means Americans are feeling more optimistic about their income prospects and the direction the economy is headed – but will this newfound "happiness" translate into increased business for mortgage bankers and Realtors?

Wells Fargo & Co., which has emerged as a constant seller of delinquent mortgages, is offering roughly $350 million worth of whole loans, some of which are nonperforming, according to investment banking sources.

Florida is still largely in the economic doldrums: more people are moving out than in, foreclosures are still in the nosebleed territory, and new homebuilding is anemic. So now isn’t exactly the best time for a mortgage firm to make inroads there. Or is it?

When things get tough in the mortgage industry, the tough pick up the phone and call their M&A advisor and try to find a deal to get them out of this industry.

The Federal Deposit Insurance Corp. has sent letters to former executives of the failed Washington Mutual Bank, Seattle, warning of possible legal action, according to a report by Dow Jones, quoting a source familiar with the situation.

Federal prosecutors have ended their criminal investigation of former Countrywide Financial chairman and CEO Angelo Mozilo, after deciding that his actions managing the nation's largest lender did not constitute criminal behavior, according to a report in The Los Angeles Times.