Analysts continue to believe that PHH's shares are undervalued based on “book” price…

Existing home sales increased by 14.7 percent in December compared with the previous month, according to data from the National Association of Realtors, suggesting that issues involving the Consumer Financial Protection Bureau’s disclosure rule were temporary. NAR said 5.46 million sales of existing homes were completed in December, on a seasonally adjusted basis, up from 4.76 million the previous month, marking the largest monthly increase ever recorded by the group, on a percentage basis. Existing home sales in November were down by 10.5 percent from the previous month as lenders grappled with the new TRID disclosure rule. “While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates...

Asked why these employees would join his company, the executive said the current owners of his target have become less competitive on pricing and trimmed compensation for loan officers.

In an interview with IMFnews, NAIHP president Marc Savitt said the new forms are confusing and "the three-day waiting period is useless and unnecessary.”

Meanwhile, servicing income at EverBank fell 26 percent to $26.9 million. Gain-on-sale revenue also fell 26 percent – to $24.7 million.

The House Financial Services Committee also has some unkind words for the Department of Housing and Urban Development and its 7800-plus workers...

Loan amounts of up to $2.0 million are allowed under the program, though in certain cases A&D will go as high as $5.0 million.

Mortgages sold and securitized by Flagstar fell 29.4 percent.

Credit unions could incur an average cost of almost $9,600 to update their computer systems with the changes required by the CFPB…

Flagstar is the largest depository remaining as a table funder of mortgages through loan brokers...