#mortgagefinance

Any news? We’re all sitting here anxious as f***.

2013 changes to risk capital largely led banks to withdraw from the market. Now its companies like Rocketmortage. This has led to higher mortage rates because banks have cheaper funding (deposits).

Fed is going to change the rules so to incentivize banks to re enter the market, both the risk weights for mortages and mortage servicing rights.

Itll be a growth market for banks.

Too bad chainsaw charlie doesnt know how to grow a business and after 5 years of bi weekly thrashing to the corporate culture no one wants to work at Wells Fu----u

Heard some rumors layoffs happened today. Any validity to that? TAS and mortgage were mentioned.

Curious about how many associates have their home loans with the bank Walmart owns and how that's going? So when you get laid off and cannot pay your home loan what do you tell your bank who is also another branch of the company you work for.

So, in 2012, Citibank paid $158.3 million to settle federal allegations tied to defective FHA loans. In the DOJ’s complaint is a line that still matters. In 2010, Ross Leckie, then a senior leader at CitiMortgage, told staff to “drive this rate down by brute force” to meet a 5% defect target, even as quality-control teams flagged serious loan problems. The goal wasn’t fixing defects. It was fixing the number. That email is quoted in a federal complaint.
Today, the same individual is a Vice President at Fannie Mae. This isn’t about criminal charges. It’s about leadership judgment, tone, and culture.
“Drive it down by brute force” isn’t just a bad line. It reflects a culture where optics beat substance and targets beat controls. That culture is exactly what regulators, taxpayers, and markets expect GSEs to leave behind. It also raises an unavoidable question:
If defect rates were something to be pushed down rather than examined, what else could be getting massaged, minimized, or buried?
This is how systemic failures form. Not from one bad loan, but from leadership that treats controls as obstacles instead of safeguards.
FHFA talks about fraud prevention and data integrity. Culture change gets mentioned a lot too. But culture doesn’t change through training decks or rewritten policies. It changes when leadership changes. Leadership overhaul isn’t about punishment. It’s about credibility. It’s about signaling that the old way of protecting metrics, protecting reputations, and protecting insiders is over.
Because until leadership changes, the culture won’t. And until the culture changes, the same question will linger:
If they were willing to “drive it down by brute force” then, what are they driving down now?
If the culture is broken, the fix starts at the top. Paper trails don’t disappear.
And neither do patterns.

WSJ: Fannie Mae Watchdogs Probed How Pulte Obtained Mortgage Records of Key Democrats

paraphrasing Tywin Lannister, Pulte (Joffrey) is a fool. He is cruel, but he is a fool.
We have had cruel kings, and we have had weak kings, and we have had mad kings… but I do not know if we have ever been cursed with a king who was all three.

How bad is going to get?

Oooof!

Finally getting BAIC back this quarter. How much are ya’ll getting?

How pathetic you guys are to target individuals roles, responsibilities?

Everyone in this firm has mortgage, rent to pay, families to take care of.

They all have same life situations to deal with, they were all part of layoffs, job cuts in past in some cases, yet some people are so insecure about themselves they make these posts about roles, which is ridiculous.