Borrowers cited “best interest rate” as the reason they went with a particular lender in only 2.0 percent of purchase-mortgage transactions and 6.0 percent of refinances.

“After carefully evaluating market conditions and consumer needs, we are reducing to better align with current volumes,” Wells said.

The Mortgage Industry Standards Maintenance Organization is forming a new group to identify emerging technologies such as blockchain and digital mortgage that could impact the industry.

Overall, California has 99,781 licensed and registered mortgage LOs, far more than any other state…

Gregory Funding is in the first year of a three-year expansion plan…

In Washington mortgage servicers must now maintain recorded telephone conversations with consumers for three years after the date of the call…

CALCAP is looking to expand into the Texas market…

A year ago, just 12.1 percent of new purchase loans fell into the highest-risk category…

“Zillow could have done this on a much larger scale. Heck, they could’ve bought Ditech,” said industry consultant Paul Hindman.

Tough times? Might be time to eliminate the 401(k) match…