Franklin also expanded guidelines to allow for cash-out refinance transactions on investment properties.

At March 31 Seneca’s residential servicing portfolio totaled $61.75 billion, making the company the nation’s 25th largest processor of loans.

With the Opes transaction, Flagstar acquired 39 retail offices on the West Coast, supplementing the 99 retail branches it already had in Michigan and 43 other retail home lending offices across the nation.

“Will we see the loanDepots of the world jump in?” he asked rhetorically. “There’s a lot of top lenders out there looking for innovative products to offer,” Pollock noted and left it at that.

The account fabrication scandal had nothing to do with mortgages, a market that Wells Fargo dominates both as a lender and servicer.

Houlihan Lokey was PCM’s advisor on the sale.

PwC estimates that by the early 2030s, up to 38 percent of existing U.S. jobs will be susceptible to automation from robotics and artificial intelligence.

SFR transactions are expected to increase as investors rely more on leverage…

PennyMac sourced 92.7 percent of its government-insured loans from correspondents…

Production profits suffered, but servicing and secondary market income increased…