Possibly dozens of VA lenders have been handed subpoenas from the federal government tied to VA delinquencies and possibly loan churning. Is this a fishing expedition or something more? Needless to say, lenders are worried.
An auction of Ditech Financial is scheduled for the end of May. At stake is not only the company’s future — and the jobs of roughly 2,700 full-time employees — but $187.2 billion in mortgage servicing rights. If bidders fail to show up, Ch. 7 will likely be the next step.
It appears that RoundPoint Mortgage is once again on the auction block. This time around, it looks as though the $90.5 billion residential servicer will be sold to top-ranked Freedom Mortgage, Stan Middleman's shop. But it's not a done deal, sources say, at least not yet.
Are nonbanks really facing a coming liquidity crisis or is it just fear-mongering? It may depend on who you work for, but a recent op-ed piece by Caliber Home Loans CEO Sanjiv Das has kept the debate alive.
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.
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