Graham Williams, CEO of Mortgage Resolution Partners, a firm that has achieved notoriety in the mortgage industry for trying to use eminent domain to seize underwater loans, is moving on. But that doesn’t mean the concept of municipalities using the legal strategy is going away. “I’m transitioning out of the CEO job,” Williams told Inside Mortgage Finance. “The company will continue on.” Asked whether a CEO search is underway, he said he didn’t know. As Inside Mortgage Finance went to press this week, there were...
The nation’s third largest FHA servicer also admitted that it failed to inform the government mortgage insurers when its own internal reviews discovered more than 500 defective loans that never should have been submitted for coverage.
According to company correspondence provided to Inside Mortgage Finance, Green Tree's target date for exiting the wholesale/broker channel is mid-April.
Treasury’s “Third Amendment” to the PSPA – which replaced the quarterly GSE dividend payment with a “net worth sweep” of all company profits – was the culmination of a calculated administration effort, according to former Solicitor General Ted Olson.
The rating service singles out Ocwen Financial, Nationstar Mortgage, Walter Investment Management, Quicken Loans, Provident Funding and PennyMac Loan Services, all of which have significantly increased their MSR portfolios.
American Advisors Group, whose spokesman is former U.S. Sen. Fred Thompson, R-TN, led with $1.05 billion in reverse mortgage originations and a 9 percent market share.
An industry source said lenders in the Riverside-San Bernardino-Ontario housing market are gearing up to petition HUD to recalculate the FHA loan limits in those areas.
New Penn Financial accounted for almost 81 percent of mortgages included in the jumbo deal. In the past, the lender’s originations have been securitized by the affiliated Shellpoint Partners.
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