Non-qualified mortgages are starting to look attractive to some nonbanks with refinance activity declining and interest rates projected to increase. Officials at Nationstar Mortgage revealed late last week that they plan to launch a non-QM offering later this year or in early 2018. “You’re starting to see some activity there,” Jay Bray, Nationstar’s president, chairman and CEO, said during the nonbank’s recent earnings call. “And when we look at our portfolio, we may be in the best position in the industry, frankly, to offer some of those products.” Nationstar serviced...

Purchase mortgages are getting to be a tougher sell as many potential homebuyers say high prices make it a lousy time to buy a house, and sellers are getting less enthusiastic as well. A Fannie Mae survey found that the share of people surveyed who said it was a bad time to buy reached a high of 57 percent in July, while the share who said it was a good time to buy hit a low, 34 percent. The government-sponsored enterprise has been conducting the survey since 2011. “It’s...

It’s safe to say that CFPB Director Richard Cordray has been one of the most controversial financial regulators to work in Washington, D.C. for quite some time...

At June 30, PHH had commitments to sell $52.3 billion of mortgage servicing rights.

In trading Wednesday, Impac’s share price was down almost 6 percent…

Brokers saw the biggest increase in FHA business, with volume up 14.5 percent…

Industry consultants contend that loanDepot – the nation’s 10th largest overall originator – still hopes to go public one of these days…

Citadel Servicing Corp., Irvine, CA, is also looking for a correspondent sales rep for the East Coast...

PHH said it settled the cases without admitting liability “to avoid the distraction and expense of potential litigation.”

In fact, some of the underwriting characteristics on new nonprime loans are even stronger than the credit quality on pre-crisis Alt A mortgages…