Michael R. Bright Nominated as Ginnie Mae President

May 16, 2018

President Trump has nominated Michael R. Bright to become the next President of the Government National Mortgage Association, also known as Ginnie Mae.

Bright has served as Ginnie Mae’s Executive Vice President and Chief Operating Officer since July 2017. If confirmed, he will replace Ted Tozer, who served for nearly seven years before resigning in January 2017.

Prior to joining Ginnie Mae, Bright was Director of Financial Markets at the Milken Institute and Senior Vice President of BlackRock/PennyMac. Before that, Bright served in the federal government as Senior Financial Policy Advisor for Sen. Bob Corker (R-TN) was the principal staff author of S.1217, the "Corker-Warner" GSE reform bill that passed the Senate Banking Committee the following year.

From 2009 to 2010, he was as a Mortgage Data Analyst in Large Bank Supervision at the Office of the Comptroller of the Currency (OCC).

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Phil Hall

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May 16, 2018

Courts

UWM Seeks More Than $500M From Two Harbors After Failed Deal

Lender alleges Two Harbors undermined their merger and steered the company toward CrossCountry, turning a costly acquisition failure into a federal court fight

The fight over Two Harbors Investment Corp. did not end when shareholders approved its sale to CrossCountry Mortgage.Now United Wholesale Mortgage wants damages.UWM Holdings Corp. and UWM Acquisitions 1 LLC sued Two Harbors in federal court Monday, seeking more than $500 mil...

Wholesale

UWM Offers LOs 90-Bps Incentive On One Agency Loan

Bullseye 90 can be applied to a conventional or government purchase or refinance loan through Sept. 8

United Wholesale Mortgage is giving each loan originator a one-time, 90-basis-point pricing incentive to use on a qualifying agency loan.The wholesaler’s new Bullseye 90 program applies to new locks from Aug. 5 through Sept. 8 on conventional, FHA, VA, and USDA purchase and ...

Nov

Houston, TX

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