A provider of directors and officers insurance is on the book for an $18 million payout tied to Guaranteed Rate’s settlement with the DOJ over charges under the False Claims Act.
California is set to become the 45th state to allow remote online notarizations for real estate transactions; LOs available 24/7 at Guaranteed Rate; empathetic lenders slow to cut staff; former Black Knight units rebrand as Dark Matter Technologies; Incenter boosts corporate staff; warehouse lending system moves to the cloud.
As severe weather events batter major housing markets, borrowers are finding it difficult and expensive to obtain homeowners insurance, according to panelists at a Mortgage Bankers Association conference.
It’s not exactly the best time for a mortgage company to go public, especially with conventional rates north of 7%. But Better.com pulled it off. Then again, its share price is a nightmare and institutional investors are leery.
State tax exemptions on municipal bonds encourage banks to load up on the asset. But to offset their exposure to the local real estate market, banks loosen credit to increase their out-of-state mortgage originations.
James Brody, a senior litigation partner at Garris Horn, provided strategies lenders could use to avoid repurchase demands, which included negotiating contract terms, diversifying their investor deck and outsourcing underwriting.
Blend is taking steps to turn a profit after years of losses. The moves include increasing revenue per mortgage transaction and decreasing expenses through layoffs.
Mr. Cooper’s servicing portfolio is expanding while the number of employees in the nonbank’s call center is declining. Investment in technology is helping to reduce costs and fuel servicing growth.