Former Ginnie Mae president Joseph Murin and former FHA commissioner Brian Montgomery are launching a Washington consulting firm to provide advisory services for mortgage company executives. Mr. Murin said the firm aims to help clients operate strategically in a business environment where markets and the regulatory landscape are shifting. The Collingwood Group already has an office on Pennsylvania Ave. and it has merged with Capital Financial Solutions, which was founded by two former Fannie Mae executives. Mr. Montgomery said the merger will give Collingwood clients access to expertise in fraud prevention, risk management analytics, mortgage fulfillment services, REO and loan modification management. The former Ginnie Mae and Federal Housing Administration officials recently left their government posts and they cannot directly contact those agencies on behalf of clients for one year.
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Ohio-based Liberty Home Mortgage joins several companies who started using a more modernized FICO credit score for nonconforming mortgage originations recently.
7h ago -
The CFPB has dissolved the Office of Supervision, Enforcement and Fair Lending and eliminated the job of associate director in a move that impacts how it designates nonbanks for supervision.
8h ago -
The plan that the Federal Housing Finance Agency floated calls for Freddie Mac to actively invest in some new closed-end seconds as cash-out refinancing subsides.
11h ago -
The push comes amid what one expert highlighted as lax funding efforts for two Department of Housing and Urban Development grant programs.
April 17 -
Conventional lending drove volumes higher, particularly in the purchase market, the Mortgage Bankers Association said.
April 17 -
Net charge-offs at the Charlotte, North Carolina-based bank increased by more than 80% in the first quarter compared with a year earlier. BofA executives say that the rising losses were in line with the bank's risk appetite.
April 16