Stearns Lending founder Glenn Stearns will star in a reality TV series called “Undercover Billionaire,” premiering August 6. Stearns will be dropped off in a U.S. city (Erie, PA) with $100 in his pocket. The goal: to create a million-dollar enterprise from scratch in 90 days…

Approximately $600 million of refinance loans with a VA guarantee were left stranded on lenders’ balance sheets due to a conflict in Ginnie seasoning requirements that were ushered in with passage of the Dodd-Frank reform act...

According to calculations made by Inside Mortgage Finance, the patch currently accounts for as much as 30% of single-family mortgages purchased by Fannie Mae and Freddie Mac. 

The presale report notes income on 47.5% of the loans was verified using “alternative methods,” which means personal or business bank statements.

To date, much of the revival in the new “subprime” mortgage market (non-QM) has been driven exclusively by nonbanks, but that’s beginning to change...

How much do mortgage CEOs at private firms earn each year? We’ve been asking around of late and the answers we received offer a wide range... 

To ensure lenders are not adversely impacted by the outage, FHA will make adjustments to response due dates.

Which top-10 home lender had the largest sequential gain in 2Q19? Quicken? UWM? Guess again. It was Freedom Mortgage with 81.9%.

Altisource is headed by William Shepro, who was paid $6.1 million last year. Over the past three years, the CEO took home $15.2 million in total compensation, which includes salary, bonuses, stock and options.

Across the board, lenders are reporting stellar origination growth from the first to second quarters of the year, but the last two application surveys from the Mortgage Bankers Association showed weekly declines of 1.9% and 1.1%, respectively…