Checking In With Anthony Casa

If you thought Anthony Casa would dial things back in the wake of sending lewd video texts about a rival’s wife, well … he seems to be sending a different message. As seen in the picture above, Casa updated his Facebook cover photo with an old picture in front of a presentation slide that says “FUCK THESE GUYS. ATTACK ATTACK ATTACK.” His Facebook profile still identifies him as “Chairman @ Association of Independent Mortgage Experts” – even though he took a leave of absence after swift and severe backlash to his lewd texts and comments. Casa came under fire after The Mortgage Note and others shared videos he sent to Quicken executive Austin Niemiec falsely alleging his wife Theresa performed oral sex…

Quicken, Regions Top Ranked Mortgage Servicers

With the economy in shambles and millions of Americans struggling to pay their mortgages, borrowers’ satisfaction with their loan servicers actually has increased this year, according to the J.D. Power 2020 U.S. Primary Mortgage Servicer Satisfaction Study released Monday. The survey found that borrowers are most satisfied with Quicken Loans, followed by Regions Mortgage and Huntington National Bank. PHH Mortgage, Shellpoint Mortgage Servicing and NewRez were ranked at the bottom. The survey found that the record low interest rates, coupled with the economic fallout from the coronavirus, has created a huge surge in customer inquiries – resulting in a more website use, long wait times on call centers and very little proactive communication. “The COVID-19 pandemic has really amplified the…

GSEs Report Solid Q2 Earnings

Fannie Mae and Freddie Mac reported financial results for the second quarter on Thursday, with Fannie notching net income of $2.5 billion and Freddie recording $1.9 billion. Both companies reported significantly higher net worth as of June 30. Here are the details: Fannie Mae Fannie Mae reported net income of $2.5 billion for the second quarter of 2020, compared with net income of $461 million for the first quarter of 2020 – due primarily to a decline in credit-related expense in the second quarter of 2020 compared with the first quarter of 2020.  Fannie Mae’s net worth increased from $13.9 billion as of March 31, 2020 to $16.5 billion as of June 30, 2020. Fannie Mae provided $542 billion in…

Rocket Companies Details IPO Plans

Rocket Mortgage’s parent company – Rocket Companies, Inc. – on Tuesday announced details about its proposed IPO, including the filing of documentation with the Securities and Exchange Commission to offer 150 million shares of common stock to the public. The initial public offering price is expected to be between $20 and $22 per share. Rocket Companies has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol “RKT.”  Detroit-based Rocket Companies is a holding company with 20,000 employees in the United States consisting of personal finance and consumer service brands including Rocket Mortgage, Rocket Homes, Rocket Loans, Rocket Auto, Rock Central, Amrock, Core Digital Media, Rock Connections, Lendesk and Edison Financial.  Rocket Mortgage is the nation’s…

Fannie Mae Puts 18K Loans Up For Sale

Want to buy a mortgage? Fannie Mae announced Tuesday it is putting 18,300 reperforming loans up for sale as part of its ongoing effort to reduce the size of its mortgage portfolio. Reperforming loans are loans that were previously delinquent but have reperformed for a period of time. Some of the loans may be up to 90 days delinquent. The terms of Fannie Mae’s reperforming loan sale require the buyer to offer loss mitigation options designed to be sustainable to any borrower who may re-default within five years following the closing of the reperforming loan sale. In addition, buyers must report on loss mitigation outcomes. Any reporting requirements cease once a loan has been current for twelve consecutive months after the…

Freedom Mortgage Adding Thousands Of Jobs

Freedom Mortgage announced Wednesday it will add 3,000 jobs over the next six months to meet increasing demand for mortgage financing and loan servicing. The jobs – in addition to 1,200 added since March – will include mortgage serving professionals, sales call representatives, and in its wholesale, correspondent and traditional retail channels. It will bring the company’s total employee count to 7,000 in the United States. “As our business continues to expand, robust recruiting efforts have been necessary to ensure we’re able to provide our customers with the type of top-notch service Freedom is known for, regardless of their home financing needs,” Mortgage CEO Stanley C. Middleman said. …

Is AIME Scrubbing Channels Of Critical Comments?

After Anthony Casa announced he was taking a leave of absence from the Association of Independent Mortgage Experts, the organization removed his bio from its website while also apparently scrubbing comments on its social media channels. Casa was the chairman and founder of AIME. He took a leave of absence last week after days of stories about lewd video text messages he sent to a Quicken Loans Vice President about the executive’s wife. In the days after the news broke, AIME started losing major sponsors – including two of three platinum level sponsors for 2020. Still, Casa did not resign and instead took a leave of absence, suggesting that he may return at some point in the future. Casa apparently…

Is AIME Keeping Door Open For Casa’s Return?

After Anthony Casa took a leave of absence from his leadership of the Association of Independent Mortgage Experts for sending lewd video texts, his (at least) temporary replacement vowed to keep the organization on track and seemed to keep the door open for Casa’s return. “In light of recent events, Anthony made the difficult decision to step away,” Katie Sweeney, executive vice president of strategy at AIME, wrote in Facebook post. “The industry and its current leaders have some hard work ahead to ensure women are treated with the same respect as our male counterparts. I trust that AIME and Anthony will play a role in that positive change. I intend to make sure of it.” Casa announced Thursday he is taking…

Townstone Hits Back At CFPB Over Redlining Lawsuit

Lawyers for the Chicago mortgage company Townstone Financial accused the Consumer Financial Protection Bureau of targeting their client because of their political views – and not their business practices, as laid out by the agency earlier this week. Specifically, the lawyers say, “(CFPB Director Kathy) Kraninger is saying in this lawsuit that financial institutions are engaging in unlawful discrimination if they advertise too much on conservative media, or if their owners, executives, or staff express conservative political viewpoints, such as statements in support of the police. This is the next step in the left’s `cancel culture.’” On Wednesday, the CFPB filed a lawsuit against Townstone for allegedly discouraging Black applicants from applying for loans while engaging in redlining by discouraging…

AIME Boss Anthony Casa Takes Leave Of Absence

Anthony Casa announced Thursday he will take a leave of absence from his role as the head of the Association of Independent Mortgage Experts – but stopped short of resigning after it was disclosed he sent lewd and misogynistic video texts about the wife of a rival. Casa has been under fire since Sunday, when The Mortgage Note and others shared videos he sent to Quicken executive Austin Niemiec falsely alleging his wife Theresa had sexual relations with United Wholesale Mortgage CEO Mat Ishbia. Casa later followed up those videos with more inappropriate texts to Niemiec before Mrs. Niemiec filed a defamation lawsuit against him. Since then, AIME has lost two of its three platinum sponsors for 2020, as well a…