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More Red Ink for Ditech in 3Q and Another Potential Trip into Bankruptcy

November 15, 2018
Paul Muolo
Ditech said the company is in talks with “certain” corporate debt holders regarding another possible "court supervised" Chapter 11 process...
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Impac’s Future Looks Cloudy as Firm Turns to MSR Sales to Bolster Results. Betting the House on Non-QM Lending?

November 15, 2018
Although Impac Mortgage Holdings lost $142.8 million over the past two quarters, company management continues to be bullish on its future, laying the groundwork for a further expansion into the non-qualified loan market.
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After Cutting 400 Mortgage Workers in June, Wells Fargo Plans to Cut 900 More

November 15, 2018
Paul Muolo
The megabank currently employs 27,000 mortgage-related workers or what it calls “team members.”
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Nonbank Profits a Mixed Affair in Third Quarter

November 14, 2018
John Bancroft
Ocwen Financial has not been a model of prosperity...
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A Blood-curdling Stat: Refi Index Falls to (Almost) 20-Year Low

November 14, 2018
Paul Muolo
One New Jersey-based loan officer told IMFnews, “It’s very un-nerving right now.” He noted that on a recent workday he had account executives from three different companies come into his office. “One of them, I hadn’t seen in a year.”
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PrimeLending Recruits LOs, Cuts Poor Performers

November 13, 2018
Brandon Ivey
As of early November, PrimeLending had 1,336 LOs registered on the Nationwide Multistate Licensing System.
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Altisource’s Equator Includes a Blockchain Option in its Servicing Platform

November 13, 2018
Brandon Ivey
Altisource said the tech offering provides the option for individual mortgages to be tracked as individual chains of data via blockchain...
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Ellington Will Convert to a REIT, Focusing on Credit Investments and Agency MBS

November 12, 2018
Brandon Ivey
Ellington CEO Laurence Penn: “Becoming a REIT would bring with it big benefits, such as lower effective tax rates..."
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September Proves to be a Turning Point for Mortgage Employment, and Not in a Good Way

November 12, 2018
Paul Muolo
One loan broker said business has been so slow that it’s like, “going into a hockey rink overnight: Dead quiet.”
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CFPB’s Info Security Program Improved in Incident Responses

November 12, 2018
The CFPB’s information security program has improved in the past year with more effective incident responses to detected cybersecurity events, according to a recent report from the bureau’s Office of Inspector General. On a scale of one to five, the CFPB’s overall information security program is operating at a level three or “consistently implemented.” Several activities are being performed at a higher level, according to the OIG. The major improvement ...
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