It could be an earnings bloodbath when servicing markdowns are factored in…

Ares said it will use the cash from the sale of its mortgage banking subsidiary to its “principal lending portfolio.”

A new Inside Mortgage Finance analysis reveals that nonbank mortgage lenders have dramatically increased their share of new production over the past two years. Nonbank lenders captured an impressive 48.1 percent share of mortgage originations during the first quarter of 2016, in a database of over 170 lenders. That was up from just 39.1 percent two years ago in early 2014, and 45.2 percent in the first quarter of 2015. While new first-lien origination volume by the 88 banks in the database fell 4.0 percent from the fourth quarter of 2015, the 81 nonbanks managed...[Includes two data tables]

Thanks to last week’s “Brexit” vote in the U.K. interest rates in the U.S. are tumbling again, reaching new lows for the year. In turn, lenders are celebrating the increased flow of applications while the servicing side of their businesses prepares for the worst. For servicers – especially publicly traded companies – there is a palpable fear of deep mortgage servicing rights markdowns that almost certainly will affect second-quarter results. And the timing couldn’t be worse: the rate drop comes with no room left for recovery. The second quarter has ended. Over the past year, several publicly traded mortgage firms – Ocwen, PHH Corp., Stonegate Mortgage and Walter Investment Management Corp., to name a few – have been...

Given the extensive and uncertain administrative, civil and contractual liabilities mortgage lenders are confronted with under the new TRID disclosure regime, anxiety about the inevitable mistakes that will occur remain high. But there are a few remedies available to lenders. During a presentation at the recent American Bankers Association regulatory compliance conference in San Diego, Rich Horn, founding attorney at Rich Horn Legal in Washington, DC, spelled out just what options exist for mortgage lenders to “cure” loans with defects under the Consumer Financial Protection Bureau’s integrated-disclosure rule. “If you have liability for a TRID violation, how do...

MI firms are seeing an improvement in their stock prices of late...

FHFA examiners suggest that eventually Fannie and Freddie could have a negative net worth position once the capital buffer falls to zero…

Ocwen experienced the greatest percentage decrease in average monthly complaint volume from the first quarter of 2015 to 1Q16. Then again, Ocwen's servicing portfolio has been shrinking.

During his career, Bright has worked for Sen. Bob Corker, who supposedly is on Donald Trump’s short list of VP candidates…

Among those reporting higher application volume is Prosperity Mortgage, the residential lending arm of realty giant Long & Foster...