Cenlar FSB names Jim Daras as CEO and president

January 31, 2023 - ,
Cenlar FSB, the second-largest mortgage servicer and largest sub-servicer in the U.S., has appointed D. James ‘Jim’ Daras as its CEO and president. Daras’ professional career spans more than four decades in the banking and mortgage banking industry. His specializations ...

AmeriSave accused of defamation, failure to pay wages in lawsuit 

January 30, 2023 - ,
A group of 11 former employees are accusing AmeriSave Mortgage Corp. in a new lawsuit of failing to pay the wages, bonuses and commissions that were agreed to when they were hired by the company. The group also alleges that ...

Fed's Wall Street clash sets stage for Powell's hawkish message

January 30, 2023 - ,
Jerome Powell and Wall Street are headed for another face-off this week as the Federal Reserve seeks to slow its inflation-fighting campaign without signaling a readiness to stop. Despite 2022's slew of interest-rate hikes from Chair Powell and colleagues, financial ...

Private MI Tops Purchase Market, VA Leads in Refi

January 30, 2023 - ,
Private mortgage insurance accounted for over half of insured loans sold the agencies last year, while the VA overtook the FHA as the top government-insurance program. (Includes three data charts.) Source link

On Deck: A 25-bp Cut in the Annual FHA Premium?

January 30, 2023 - ,
Since President Biden’s inauguration last week, speculation has risen that the FHA might trim its annual insurance premiums. Source link

VA Share of Primary MI Continued to Grow in 2020

January 30, 2023 - ,
The VA home loan program surged past the FHA in new business in 2020. Thanks to its rapid-refi option, the VA also took market share away from private MIs. (Includes three data charts.) Source link

Agency MI Market Contracts as Purchase Lending Slows

January 30, 2023 - ,
The seasonal housing market slowdown had a bigger impact on private MI business in the first quarter. New restrictions on Fannie/Freddie acquisitions of purchase loans with layered credit risk may hit the private MI sector the hardest. (Includes three data ...

Surprise: Genworth Postpones Mortgage Insurance IPO

January 29, 2023 - ,
Has market sentiment spread to the MI sector? Genworth Financial scuttles (for now) IPO of mortgage insurance division. Source link

PMIs Take Seasonal Hit, But Earnings up in Early 2021

January 29, 2023 - ,
A greater concentration of refinances in the primary market led to a sharp drop in the private MI share of new primary insurance business. And the FHA actually posted a bigger gain in refi endorsements than the VA. (Includes three ...

BofA Lobbyist a Candidate for the Ginnie Job?

January 29, 2023 - ,
The Washington rumor mill is spitting out names for the FHA and Ginnie Mae jobs. Will any turn into actual nominations? Source link
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