Finance of America Says Restructuring Could Cost Upwards of $164 Million October 24, 2022 Paul Muolo In the third quarter, FoA funded an estimated $2.6 billion of mortgages, 66.7% of it through retail means.Read More
Coming Soon: Layoffs and Branch Closings at Finance of America October 21, 2022 Paul Muolo FoA recently sent a “branch offboarding information” form to all its branch managers, setting the table for large-scale cutbacks.Read More
A 3Q22 GOS Improvement for Western Alliance October 21, 2022 Brandon Ivey The bank's originations largely come through AmeriHome's activity in the correspondent channel...Read More
Truist Mortgage Chief Moves On October 21, 2022 Paul Muolo Truist ranks 13th overall among originators based on first-half 2022 figures...Read More
This Year, CSBS Expects No LO Renewal Snafus October 21, 2022 Sam Manas The organization also increased the number of servers to 40 from just six last year...Read More
Seven (Banking) Bellwethers Report 3Q Originations. The Verdict? October 20, 2022 Paul Muolo The big question on the minds of many is just how good or bad the nation’s nonbanks performed in 3Q...Read More
Short Takes: Prepping for Branch Closures / Would You Like to Keep the Copier? / A Stronger Profit for Texas Capital / Coming Soon: loanDepot’s 3Q22 Results October 20, 2022 Paul Muolo Finance of America is preparing to close retail branches outright...Read More
Ally’s Investment in Better.com Mars 3Q Earnings October 19, 2022 Paul Muolo On Tuesday, Ally filed notice that the depository’s CFO, Jennifer LeClair, had stepped down effective immediately.Read More
ABS East Coverage: Non-QM Players Expect ‘Pain’ to Last a While October 19, 2022 Brandon Ivey Angel Oak believes non-QM originations and demand from MBS investors will be suppressed through mid-2023...Read More
CFPB Reminds Borrowers of Their Right to Reconsideration October 19, 2022 Sam Manas Lenders that do not have a clear and consistent ROV process risk violating federal law...Read More
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