Judgment Imposed on Former President and Founder of Loan Correspondent Firm. A federal court in Chicago ordered the former president and founder of MDR Mortgage of Palatine, IL, to pay more than $10 million to the Department of Housing and Urban Development for submitting false certifications on FHA loans. The HUD Inspector General Office and the Department of Justice withheld the identity of the former bank official, who was found liable under the False Claims Act and the Financial Institutions Reform, Recovery, and Enforcement Act. The violations allegedly involved loans the FHA insured from 2006 through August 7, 2008, the period during which MDR submitted the allegedly false certifications. The DOJ identified 237 loans that MDR processed during the period in question. The loans defaulted and resulted in $3.4 million in claims paid by the FHA. In addition, MDR provided annual verifications to ...

According to President Jerry Selitto, the company used traditional LOs when it launched in 2016, but then switched gears “after we realized that’s not the model we wanted.”

December 2016 represented the 56th straight month of annual home price appreciation, with values rising 5.5 percent over the course of the year…

For Wells, the bigger question might be: did its “account fabrication” scandal of 2016 (which is still reverberating at the company) affect its mortgage business?

Home equity lending at First Republic totaled $414.3 million in the quarter, off 8 percent from the prior period.

Then again, compared to the same period a year ago, Wells' production is just about flat...

“Ever since Trump was elected, we’ve been so busy,” said Citadel founder and CEO Dan Perl…

In 2012, the g-fee disparity fell to about 6 bps. By 2013 it was just about gone. And you can credit Ed DeMarco…

One change would facilitate reporting the census tract of a property, using a new geocoding tool that the CFPB plans to provide online.

It’s a safe bet that CitiMortgage will no longer be a top-10 ranked residential servicer…