It’s that time of the year again: Declining originations mixed with seasonality are causing consternation among residential originators, with lay-off notices proliferating at shops both large and small. However, a greater sense of panic is beginning to seep in this time around. Rates are the highest they’ve been in several years and the purchase-money sector is beginning to look long in the tooth. The nation’s largest home lender, Wells Fargo, recently announced plans to chop 900 ...

A Chicago-based specialty mortgage servicer is combining crowdsource funding and loss mitigation to help homeowners facing foreclosure keep their homes while at the same time encouraging investors to be socially responsible. AHP Servicing recently announced a $50 million offering under Regulation A of the federal Jumpstart Our Business Startups Act, to help distressed homeowners avoid foreclosure. Reg A is one of several exemptions under the JOBS Act that excludes firms from ...

The rise in home prices is boosting the payouts mortgage holders will see from loans that included principal forbearance as part of a modification. According to an analysis by Fitch Ratings, the current overall recovery rate for outstanding forbearance amounts on loans in non-agency mortgage-backed securities is estimated at 19.0 percent. Principal forbearance, or principal deferral, has been one of the most common loan modification tactics in the years after the financial crisis. It allows a ...

Mortgage lenders that rely on cutting-edge financial technology – or fintech – may be just as guilty as traditional face-to-face lenders of pricing discrimination, according to a new study by economists at the University of California at Berkeley. The researchers found that both traditional and online lenders charge Latino and African-American borrowers 6 to 9 basis points higher interest rates than their white counterparts for purchase-mortgage loans, and 1 to 3 bps more for refinancing ...

Impac CEO George Mangiaracina: “I don’t believe we’ve seen capitulation yet with respect to other originators.”

Carrington Mortgage this week announced the launch of its correspondent lending division.

The largest gain among the 14 companies was 3.6 percent, the largest decline -5.6 percent.

Wells Fargo remained the top producer of correspondent-originated loans with $26.64 billion in third-quarter volume and a 20.2 percent share of the market…

The top five EC lenders in 3Q18 were Redwood Trust, U.S. Bank, Angel Oak, Citibank and Citadel Servicing…

Panorama is not new to the mortgage business. In July 2016, the Omaha-based PE firm unveiled a “significant” investment in Alterra Home Loans…