Redwood said profit margins exceeded its "long-term expectations" of 75 to 100 basis points...

HUD tells the mortgage industry: “Due to the federal government shutdown, the information on this website may not be up to date…”

Consumer complaints to the CFPB about mortgage-related issues are on the verge of a free-fall, with volumes dropping by double digits, quarterly and annually, in every category tracked, according to a new analysis and ranking by Inside the CFPB. For starters, total gripes fell 15.9 percent from the third quarter of 2017 to the fourth quarter, and by 27.8 percent year over year. Digging into specific kinds of complaints, criticisms about loan modifications mirrored those trend lines, dropping 15.3 percent from 3Q17 to 4Q17, and by 29.2 percent on an annual basis. When it came to mortgage servicing, consumer kvetching was on a parallel track, down 13.0 percent and 26.4 percent, quarter over quarter and year over year, respectively. In ...

The White House may be committed to GSE reform, but Republicans are not...

The lone bank bucking the trend was U.S. Bank, Minneapolis, which funded $12.5 billion, a 3.3 percent improvement from the prior period.

IRLCs generally last 30 to 60 days, with lenders agreeing to make a mortgage at a particular interest rate prior to funding the loan.

The plaintiffs argue that the GSEs and their private stockholders did not receive any consideration in exchange for the net worth sweep…

PennyMac is leaping into the wholesale-broker channel with its new Power platform as it eyes increased purchase-money and jumbo mortgage originations. The company’s enhanced production platform will provide mortgage brokers broad access to data, allowing them to proactively manage their pipelines, according to executives at the California-based firm. “Power is a proven, best-in-class platform,” said Kimberly Nichols, managing director of PennyMac’s ...

A data breach involving United Shore Financial Services and Xerox has prompted a class-action lawsuit from borrowers and a legal battle between the lender and the loan document software vendor. United Shore is the parent company of United Wholesale Mortgage, a major player in the wholesale channel. In 2011, United Shore was using BlitzDocs to process and store loan documents. At the time, the software program was operated by Xerox Mortgage Services. Al Leibovic, a borrower, filed ...

Fannie Mae and Freddie Mac saw a 27.2 percent surge in refinance business during the fourth quarter that helped offset an 8.3 percent drop in purchase-mortgage acquisitions, according to an Inside Mortgage Trends analysis of mortgage-backed securities data. The wholesale-broker channel recorded a 7.4 percent increase in production during the fourth quarter, compared to smaller increases in retail (2.6 percent) and correspondent (6.0 percent) ... [Includes one data chart]