Rushmore Loan Management Services, Irvine, CA – a subservicing specialist – plans to enter the origination market early next month, a rarity for firms whose forte is processing loans for others. Company CEO Terry Smith told Inside Mortgage Finance that the nonbank’s direct-to-consumer arm is scheduled to begin funding loans on Sept. 1. “Our focus will be on originating loans – and servicing those loans,” Smith said. He also noted...

The nation’s three largest residential servicers – Wells Fargo, Chase and Bank of America – all showed sequential increases in late payments...

Nine nonbanks reported a combined net loss of $339.5 million on mortgage-banking activity for 2Q16, but that was actually an improvement...

Meanwhile, it’s anticipated that private equity firms could play an even larger role...

The top revenue generator for MBA was membership dues at $18.24 million. Its annual convention took in $7.5 million while all other conferences generated revenue of $17.70 million.

FB also services roughly $4.02 billion in residential loans…

The call-report data pose an interesting, and contrary, view of the banking industry’s mortgage-banking activity during the second quarter…

Investors are more willing to buy non-QM loans as long as they are Alt A in nature, industry sources told Inside the CFPB…

Depositories also added to their Ginnie Mae pass-through investments, but by only 0.7 percent…

PennyMac also is pursuing new initiatives to grow seller relationships with credit unions and smaller banks…