BlackRock transferred $589 million of stock in PennyMac Financial Services, accounting for a 20% stake in the lender, to two of its affiliated charitable entities. BlackRock initially invested $34 million in PennyMac in 2008.
Freedom Mortgage’s planned acquisition of RoundPoint Mortgage Servicing is the latest example of delays in merger and acquisition deals. Factors delaying transactions include approvals from Ginnie and state regulators.
The homeownership rate hit a six-year high at the end of last year, with low interest rates helping homebuyers even as prices increased at a steady pace. Low inventory of homes for sale could lead to affordability issues this year.
A new survey finds millennials’ path to homeownership strewn with such obstacles as debt, little to no savings and unaffordable home prices. But this age cohort is willing to do anything to own a home.
Despite talk that lenders would reduce loan originator compensation in 2019, comp increased on an annual basis. Lenders could reduce LO comp this year with refi business expected to decline.
Lenders can take a number of steps to help ensure that borrowers are satisfied with the origination process, making them more likely to recommend the lender to friends and family.
The intensity of information technology adoption at banks played a role in loan performance during the financial crisis, according to a working paper by the International Monetary Fund.
Velocity Financial went public on Friday, a somewhat rare event for a nonbank lender and an even rarer happening for a nonprime shop. That said, are more deals on the way?
A new reading on mortgage employment from the federal government was barely positive but interviews conducted by Inside Mortgage Trends suggests that plenty of lenders need workers.
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