Since its founding roughly five years ago, mortgage technology vendor Blend has landed five top-10 residential lenders for its digital origination platform and 20 customers overall. It also has raised $60 million in seed money from investors, but has no current plans to tap the private equity market for cash, which is probably a good sign. “We may raise more money, but not at the moment,” said company Co-founder and Chief Executive Officer Nima Ghamsari. But is Blend profitable ...

As lenders increasingly turn to subservicers to handle various functions, up-front due diligence and ongoing monitoring are necessary to help increase originations and maximize return on investment, according to Kurt Blohm, a senior manager at Richey May & Co. Blohm is the leader of the consulting firm’s subservicer oversight review service and he recently authored a white paper on selection and oversight responsibilities for holders of mortgage servicing rights ...

Plenty of attention continues to be paid to online mortgage shopping and to getting the e-mortgage off the ground in hopes of revolutionizing the entire home loan origination experience for the consumer. But if the potential of digitalization and related technologies is to be fully realized, the back office needs to be addressed, and soon; otherwise lenders run the risk of creating massive backlogs because of the resultant choke points. On the first point, Nate Longfellow ...

Newfi Lending, an online residential mortgage lender, is looking forward to a big origination year with the consolidation of its product lines under the “Newfi Lending” brand. A multi-channel lender, the Emeryville, CA-based lender previously operated as Nexera Holdings under two national brands – Newfi for its consumer-direct retail business and Bluestream Lending for third-party originations. In conjunction with the change, Newfi’s wholesale-broker business will now be ...

As interest rates increase, nonbanks’ holdings of mortgage servicing rights will help offset losses tied to lower originations, according to analysts at S&P Global Ratings. “We expect market trends affecting nonbank mortgage companies to change dramatically now that rising interest rates are driving MSR valuations higher,” the rating service said in a recent report. Freddie Mac and the Mortgage Bankers Association separately forecast that the average interest rate ...

The MBS collateral includes mortgages from several originators, led by wholesaler United Shore Financial Services…

The nonprime residential market is getting more attention as the big product categories hit the skids.

House Financial Services Committee chairman Jeb Hensarling believes it’s a done deal that Cordray will run for office in Ohio…

Watt noted the CRT coverage has come at a financial cost – and that Fannie and Freddie have been paying a premium.

Among the 32 servicers in Inside Mortgage Finance’s large delinquency index, only two reported an increase in total late payments…