The new QM standards are set to take effect March 1 with a mandatory compliance date of July 1. Between March 1 and July 1 lenders can use the QM patch or the new standards but after July 1, originators can only use the new standards.

In 4Q20, the nonbank mortgage giant originated $69.41 billion of product, a 28.1% improvement from a red hot third quarter. Its servicing portfolio grew by 6.2% in that span to $426.75 billion.

CMLA’s Rob Zimmer said what he finds so perplexing about the cap is that “no one saw this coming”…

In a red hot hiring market, it appears that some lenders are being scammed by phony resumes...

Its gain-on-sale margin came in at 305 basis points in 4Q20 compared to 110 bps in the year ago period. The nonbank also vowed to return “excess cash” to shareholders when possible, a reference to dividend payments.

Figure Acquisition Corp. I is planning to acquire a company involved in financial technology and financial services.

The sole category that saw an increase on a sequential basis was loan closings, which registered a 2.1% rise.

BlackRock places a bullish bet on the nation's number-one lender...

DFPI Commissioner Manuel Alvarez: “We take our expanded responsibility very seriously and are moving swiftly to ensure debt collectors do not violate the rights of California consumers.”