A handful of top lenders posted significant gains in production volume in the first quarter of 2019 compared with the previous period. But many more shops saw double-digit declines in first-lien mortgage lending.
Owners of private mortgage firms often take cash out of their companies as a way to preserve wealth, but usually no one knows about it. A recent SEC filing by Mr. Cooper provides certain details on such a maneuver by a recent acquisition, Pacific Union Mortgage.
Mortgage lenders and loan originators can increase production by using proximity marketing through cell phone beacon technology, according to industry participants.
JPMorgan is reviewing its strategy in the mortgage industry. The reason: owning real-estate loans has become hugely unprofitable for banks due to onerous and unnecessary requirements. HomeStreet Bank said it has found buyers for its MSR and home-loan centers.
Over the past month, residential lenders have been cheering the bond market rally, racking up new applications and signaling better days in the here and now.
California lawmakers are considering creating a state-level watchdog agency akin to the Consumer Financial Protection Bureau to enhance enforcement of consumer laws and fill the void left by the federal agency.
Joseph Otting, acting director of the Federal Housing Finance Agency, set the rumor mills in motion last week when he told an audience at George Mason University Law School that the agency would finish work this summer on final capital rules for Fannie Mae and Freddie Mac.
Castle & Cooke Mortgage, a $1 billion-plus-a- year lender, is set to break ties with Eli Global, an insurance conglomerate whose chairman, Greg Lindberg, was indicted in North Carolina this week.
Industry stakeholders warned that doing away with key enforcement tools under the Fair Housing Act will make it harder to protect consumers from discriminatory housing policies and racial segregation.
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