PHH Corp., Ocwen Financial and Walter Investment Management Corp. have quite a bit in common these days: all are large publicly traded lender/servicers that continue to lose money while struggling to find a path to both regulatory redemption and a business model that works. But recent earnings reports and public filings suggest immediate relief looks elusive for all three. For now, Walter – the parent of Ditech Financial, the nation’s 10th largest servicer – appears...

The U.S. Court of Appeals for the Ninth Circuit recently held that mortgage underwriters are not “administrative employees” and, therefore, not exempt from the overtime protections of the Fair Labor Standards Act. The court’s ruling in McKeen-Chaplin v. Provident Savings Bank overturned a lower court decision and deepened a split among the circuit courts on whether certain employees of mortgage companies qualify for overtime pay. Given the conflicting circuit court opinions, attorneys are...

It’s safe to say that CFPB Director Richard Cordray has been one of the most controversial financial regulators to work in Washington, D.C. for quite some time...

Annaly Capital Management remained the largest MBS investor in the group, accounting for 32.2 percent of the market…

As the weekend approached it was unclear which suitor won the Seneca MSR portfolio…

At June 30, PHH had commitments to sell $52.3 billion of mortgage servicing rights.

In trading Wednesday, Impac’s share price was down almost 6 percent…

Brokers saw the biggest increase in FHA business, with volume up 14.5 percent…

Industry consultants contend that loanDepot – the nation’s 10th largest overall originator – still hopes to go public one of these days…

Citadel Servicing Corp., Irvine, CA, is also looking for a correspondent sales rep for the East Coast...