Paul Muolo

This is hardly the best time to jump into the business of mortgage servicing. Federal regulators are looking to slash servicing compensation for not only GSE loans but even Federal Housing Administration product. And then there's the robo-signing scandal, with the states hoping to extract a $20 billion pound of flesh from the top firms.

Industry veteran Tom Wind is stepping down as managing director of J.I. Kislak Mortgage in Miami Lakes, Fla., after just four months on the job, according to industry officials.

An appellate court in Washington late Thursday night granted a stay delaying implementation of the Federal Reserve's loan officer compensation rule until April 5.

U.S. District Court Judge Beryl Howell late Wednesday denied a preliminary injunction aimed at halting the Federal Reserve's loan officer compensation rule, dealing loan brokers a major blow.

Walter Investment Management Corp. said Monday that it has agreed to buy GTCS Holdings LLC, the parent company of Green Tree Servicing, for just over $1 billion.

Smaller, thinly capitalized investors in nonperforming mortgages could face liquidity concerns in coming months as private-equity investors begin to re-examine their commitment to the business while bolting for higher returns elsewhere.

Freddie Mac purchased $38.9 billion of home mortgages from its seller/servicers in February, a slight gain from January, according to figures released Friday.

Kondaur Capital Corp. of Orange, Calif., was the winning bidder on a 1,000-unit nonperforming mortgage portfolio auctioned by the Department of Housing and Urban Development.

Kondaur Capital, which a month ago slashed its loan workout staff by nearly 40%, hired Mark Ferrara as managing director of its newly formed community banking group.

The dollar amount of second-lien mortgage debt continued to fall in the fourth quarter with roughly $620 billion in loans outstanding nationwide, a 9% decline over the past 12 months, according to survey figures compiled by National Mortgage News.

Mortgage lenders funded roughly $33.2 billion of jumbo mortgages during the fourth quarter, a handsome 57% gain from the same period a year earlier, according to survey figures compiled by National Mortgage News' Quarterly Data Report.

A Michigan jury last week ruled that Quicken Loans Inc., one of the nation's largest mortgage banking firms, does not have to pay nearly 350 plaintiffs overtime for extra hours they worked at the company.

Eighteen months ago it appeared warehouse credit was drying up, with nonbanks paying dearly for lines — if they could find them.

Federal Housing Administration head David Stevens, who announced recently he'd leave the agency in April, has accepted a position to head the Mortgage Bankers Association.

Larry Goldstone, once a top player in jumbo lending through his now-defunct Thornburg Mortgage, is attempting a comeback.

With fears mounting that the government may soon radically alter servicing compensation, a Wall Street firm is making the rounds offering a "sale leaseback" deal to some of the nation's largest holders of mortgage servicing rights.

Federal Housing Administration commissioner David Stevens said in a memo to FHA employees that he has decided to leave the agency in mid-April.

Mortgage brokers have a new concern that may eclipse even the Federal Reserve compensation rules they will have to adhere to come April 1.

Flagstar Bancorp ended 2010 with $1.87 billion of outstanding mortgage warehouse lending commitments, a 23% jump from the previous year, according to survey figures.

Wells Fargo once again ranked first among all residential funders in the most recent quarter with its market share reaching 24% — one of the highest readings on record.