Mortgage originators that produce $1 billion to $4 billion a year in loans are continuing to be courted by potential suitors, but not many sale agreements are getting signed these days, according to investment bankers. “Private equity firms are still looking to enter the business, and sellers are listening, but I’m not seeing too many deals being completed,” said Chuck Klein, a managing partner at Mortgage Banking Solutions, Austin, TX. At the beginning of the year, Klein was...

If confirmed by the Senate, it would be Montgomery’s second go at the FHA post, a position he held in the administration of George W. Bush.

MBA believes the CFPB should concede it is bound by the guidance it issues…

It’s possible that the nomination of Pam Patenaude to be the number-two at HUD could get a floor vote this week...

KBW noted: “We think there likely will be more value if the company is able to liquidate relatively quickly…”

Second, it’s unclear if a CU wanting to buy receivables from another shop would face “membership” issues…

Ocwen Financial Corp. and Ocwen Loan Servicing recently agreed to pay a $1 million fine to resolve an issue of force-placed insurance (FPI) under the national mortgage settlement that was reached in 2014.At issue was the company’s performance as loan servicer as measured against one particular metric, metric 29, the purpose of which is to test whether Ocwen complied with the servicing standards regarding the timeliness of terminating FPI and refunding premiums to affected borrowers. Under the settlement, Ocwen must terminate FPI within 15 days of obtaining proof that a borrower has an existing insurance policy. As it turned out, Ocwen exceeded the mandated error threshold of 5 percent for Metric 29 during the first quarter of 2017, according ...

State Regulators Start Work on a Next-Generation Technology Platform. The Conference of State Bank Supervisors has initiated what it characterizes as a major redesign of the Nationwide Multistate Licensing System (NMLS), which is the core technology platform state bank regulators utilize. According to the CSBS, the redesign will enable the regulators to transform the licensing and supervision of non-bank financial institutions, including financial technology companies, or so-called fintechs. “Technology and data are powerful tools that can create sweeping benefits throughout the financial regulatory system,” said Louisiana Office of Financial Institutions Commissioner John Ducrest. “And that vision drives our efforts with the next-generation NMLS. We are committed to nothing less than modernized state regulation for a modernized financial services industry.” The ...

On a combined basis, the three largest bank servicers reported a $45.06 billion reduction in their servicing for others.

Black Knight estimates there are 1.18 million mortgaged properties in FEMA-designated disaster areas influenced by the hurricane...