Privately held mortgage firms looking to raise capital by selling stock to the public face a grim reality these days, but alternatives still exist, namely private placement deals. Case in point is RoundPoint Mortgage, Charlotte, NC, the nation’s 15th largest subservicing vendor. Earlier this week, RoundPoint completed a $94 million capital raise accomplished through the sale of convertible preferred stock. The investor in the private placement was not identified. The company ...

Loans originated in the retail channel and delivered into agency mortgage-backed securities continued to show a lower risk profile than mortgages acquired from correspondent originators or funded through mortgage brokers, according to a new Inside Mortgage Trends analysis of MBS data. The average credit score for retail originations was 727.27 in second-quarter agency MBS, 6.47 points higher than the average for correspondent loans and ... [Includes two data charts]

Meanwhile, a dozen or so mortgage, housing and consumer groups are putting the final touches on a new letter to Treasury Secretary Steven Mnuchin...

John Anzalone of Invesco Mortgage: “In particular, there are a few very aggressive large buyers out there that get a lot of attention and have caused quite a bit of spread compression…”

At the end of July, mortgage bankers serviced 7.9 million FHA loans. Wells Fargo ranked first with a market share of 19.2 percent.

The CFPB said 26 data points are no longer required for those covered lenders...

All of the loans in the deal were originated by Flagstar...

According to industry consultant Rick Roque, residential originators are not lowering loan officer compensation quickly enough...

Despite calls by the industry to improve and clarify the process, the FHA has yet to make a move to meet industry demands for a more detailed defect taxonomy…

In an interview this month, MVFS Executive Vice President Mark Garland described the MSR auction market as “very, very strong…”