Fairway Independent Mortgage, Madison, WI, has been quietly giving control of the company away to a group of investors who are key to its growth: its own employees. The nation’s 22nd largest lender – as ranked by Inside Mortgage Finance – has been issuing stock to some of its senior executives since late last year, but recently rolled out an employee stock ownership plan to anyone, provided they work there for at least a year. For employees, the best part is...

Homebuyer counseling classes should expand and evolve, according to some in the industry who said such programs are critical to promoting successful homeownership. And there have been a few changes this year that speak to the growing importance of borrower education. Studies show that borrowers participating in homebuyer counseling classes are more likely to sustain homeownership than those who haven’t been counseled. But a newly published paper from the Urban Institute said...

Some investors believe servicing prices now look enticing.

Before the financial crisis, it wasn’t unusual for a bank to value its MSR asset at 150 bps or even higher.

The fear is that loan pricing will be worse and loan-to-value ratios will be more restrictive.

The share of refi loans with scores of 740 or higher edged up from 57.8 percent in the first quarter to 61.6 percent in the second.

UWM is beginning to see some of its competitors pick up their game...

The VA share of new loan applications improved to 13.0 percent from 12.1 percent the week prior.

Senior-level mortgage executives are in demand these days, according to one recruiter...

Of the two GSEs, Freddie Mac had the bigger monthly increase at 17.1 percent…