Fix-and-flip lender California Capital Real Estate Advisors, Pasadena, late last month raised $10 million in capital through its CALCAP Income Fund 1. The company hopes to add at least $15 million more by the time September ends. Its eventual goal: to raise $100 million. Started by industry veteran Mark Mozilo and others in the wake of the financial crisis, the company’s forte is lending money to contractors who purchase homes and fix them up for a quick resale. In 2015 ...

In a recent SEC filing, PHH disclosed that the bloom is now off the rose when it comes to being a private-label vendor…

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.

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.