Ginnie Mae is sailing without a captain, a fact that is causing some concern among mortgage bankers and mortgage-backed securities investors. The agency tasked with securitizing government-backed mortgages has been without a president since Democrat Ted Tozer left on Jan. 20, 2017, the same day that President-elect Donald Trump was sworn in as the 45th president of the United States. Since that time, Nancy Corsiglia, a career Ginnie official, has been acting president. She was elevated from her position as chief operating officer. Industry officials who claim to have knowledge of the selection process maintain that mortgage banke David Kittle, president of the Mortgage Collaborative, is the leading candidate to fill the post with Michael Bright, a director at the Milken Institute, a close second. One source close to the situation claimed that background checks by the Trump White House are likely ...

At PennyMac, Stan Kurland’s departure is tied to succession planning of a lender/servicer that has produced solid profits the past few years...

JPMorgan Chase ranked first among all non-agency jumbo originators in 1Q17, funding $10.88 billion in product. Wells Fargo was second…

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.