What We're Hearing

Now that Joe Murin has hung up his cowboy boots at the Government National Mortgage Association there’s a growing fear in the industry that his departure could delay the agency from getting involved in aiding the warehouse lending industry. “He was definitely the point guy there on the issue,” said one warehouse consultant, requesting anonymity. A friend of Murin’s told National Mortgage News that, “Clearly he was the guy heading the effort. And it’s not like there’s a lot of people working at that agency.” Meanwhile, it appears that BB&T Corporation is the leading bidder to buy Colonial Bancshares of Alabama, the troubled bank that is also the nation’s largest warehouse provider. But will BB&T keep Colonial’s warehouse unit? Here’s the good news: BB&T is already in the warehouse business. Read the NMN website for an update later today...