The parent company of FirstBank this month filed for an initial public offering of common stock, hoping to raise upwards of $115.0 million. Among its goals: to increase originations and bolster its investment in mortgage servicing rights. Headquartered in Tennessee, the community bank has significantly increased its mortgage activity in recent years, according to IPO documents filed with the Securities and Exchange Commission by FB Financial. The bank funded $2.76 billion in ...

It’s no secret that PHH Corp. is losing money and hopes for a buyout offer that will net stockholders something closer to its book value of $24 a share compared to its current price of $15. But the big question remains: Can PHH pull off a deal before more bad news swamps the company?In a recent 10-Q filing with the Securities and Exchange Commission, the nation’s ninth largest servicer of home mortgages noted that it’s continuing its “strategic review process,” including a ...

Commercial banks and savings institutions are continuing their years-long flight from the volatile business of holding mortgage-servicing rights on their balance sheets, according to a new Inside Mortgage Trends analysis of call report data. At the end of June, banks and thrifts serviced $3.916 trillion of single-family mortgages for other investors, usually mortgage-backed securities trusts. That was down 2.1 percent from the previous quarter and ... [Includes one data chart]

HUD has been criticized by consumer advocates who feel the agency's NPL auctions have unfairly benefitted private equity firms and hedge funds at the expense of troubled borrowers.

Lender buybacks of mortgages sold to Fannie Mae and Freddie Mac may never completely disappear, but they are shrinking fast – especially when compared to soaring new business volume at the two government-sponsored enterprises. A new Inside Mortgage Trends analysis reveals that lenders repurchased, or made other indemnification, some $250.1 million of loans during the second quarter of 2016. That was the lowest quarterly ... [Includes two data charts]

The originators believe they made a good-faith effort to address all TRID violations through the issuance of revised disclosures…

The codified changes include limiting the provision of settlement-cost assistance to owner-occupants.

Appraisals are running 15-20 days out due to the busy market, said a real estate agent in Michigan…

Some of Luther Burbank’s borrowers are more than 40 years old and receive financial support from their parents.

Originators were asked if TRID has affected their willingness to originate small loans. Roughly 53.8 percent said “no change,” while 46.2 percent said “yes, moderately.”