Chase Home Finance has ended its experiment of having two co-CEOs of mortgage finance, naming TomWind the lone CEO of residential mortgages, and Scott Powell CEO of home equity, auto finance, and studentloans. (The two men had shared the title co-CEO.) There has been some other reorganizing as well. For the fullstory see the Monday, December 19 issue of National Mortgage News. Don't subscribe? Call: (800)221-1809...
Is it already a year since Fannie Mae's board of directors finally got its act together to force outits politically well connected chairman and CEO, Franklin Raines, and chief financial officer TimothyHoward? Yes it is. It's almost a year ago today. Meanwhile, look for Fannie's internal "Rudman report"sometime in January...
This Tuesday members of the media are invited to have cookies (that's what the invitation says) and drinks withFannie's somewhat new CEO, Dan Mudd...
The holiday season is upon us and what better gift to give than the gift of mortgage data? NMN is nowoffering discounts on its "Loan Officer Compensation and Production Report" and its new "LoanOrigination Software Report (2005/2006 edition)." For more details email:
Bear Stearns guards information about its mortgage subsidiary, EMC Mortgage of Texas, as thoughthe thing were Fort Knox. It declines to answer production and servicing surveys sent out by NMN and otherindustry publications. But Radian in a recent press release reveals that so far this year EMC has acquired$53 billion in mortgages (330,000 loans) from lenders across the nation. (In the release Radian says EMC inkeda deal to use one of its new MI products.) At $53 billion in correspondent purchases that would make EMC one ofthe largest buyers of other firms' product...
WASHINGTON NEWS: U.S. Treasury undersecretary Randy Quarles said this past week that hethinks lawmakers will pass a GSE regulatory bill next year. "I continue to believe this is a threadable legislativeneedle," he said.
DATA INFORMATION: The nation's top overall mortgage lender, Countrywide Home Loans, hasa production market share that is almost twice that of the number one ranked subprime funder, New Century.For all the details see the 3Q edition of the Quarterly Data Report. For information on the QDR email:
