Renzi joined Walter this past fall with a pay package that could top $5 million in his first year at the helm. He previously held senior positions at Citigroup and Freddie Mac.
Analysts will be keeping a close eye on servicing marks from Nationstar Mortgage, PHH Corp., Stonegate Mortgage and Walter Investment Management Corp., the parent of Ditech…
But there’s also the case of certain nonbank lenders that are affiliated with homebuilding firms. In some cases, these mortgage professionals can earn as little as 35 bps per loan originated.
Bank of America’s mortgage division posted $297 million in residential income for 3Q compared to $267 million in 2Q and $290 million in the third quarter of last year.
Some good news for default servicing: For all the loans that are out there, there will always be excessive debt, illness, divorce, unemployment, or some other disruptive factor, noted one expert.
Further, the decision opens up prior actions taken by the bureau to potential challenges to the validity of past guidance, consent orders, fines and rules.
Executive departures continue to plague due diligence provider Clayton Holdings and now there’s talk that its parent company, Radian Group, is contemplating taking a goodwill charge on a subsidiary it paid $305 million for two years ago. The latest top-level officials to leave the unit include Capital Markets Senior Managing Director Brian Wornow and Mark Hughes, executive vice president in charge of sales and marketing. Sources close to Wornow contend...
Since the repurchase and indemnification phenomenon is unlikely to disappear anytime soon, many correspondent lenders, credit unions and other recipients of a repurchase/indemnification demand want to know how best to respond in order to mitigate potential damages. During a recent webinar sponsored by American Mortgage Law Group, AMLG Senior Managing Member James Brody said there are many different factors to consider. “One of the things that really helps in getting any resolution is...
Fannie Mae and Freddie Mac saw a robust 29.7 percent jump in single-family mortgage business during the third quarter, with most of the gain coming from the purchase-mortgage side of the business. And more purchase-mortgage business usually means a bigger share for correspondent lenders. Correspondent originations accounted...[Includes two data tables]
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