Walter Investment filed a WARN notice with the Texas Workforce Commission, saying it will close its Irving, TX, office and cut 437 workers...

Mortgage gain-on-sale margins likely will be flat...

According to Fairholme’s math, the GSEs earn over $15 billion a year, and taxpayers own 80 percent of the companies (via the senior preferred). Berkowitz values the senior stock at $100 billion…

The $5.5 billion (to be) paid by RBS should boost GSE earnings big time...

An appeals court ruled in favor of mortgage underwriters last week in a dispute regarding overtime eligibility. The issue could be taken up by the Supreme Court of the U.S. as the ruling furthered a split among lower courts on the issue. Mortgage underwriters from Provident Savings Bank filed a lawsuit in 2012 against the bank after the employer said they qualified for the Fair Labor Standards Act’s administrative exemption to overtime payments. A district court ruled in favor of the bank in 2015 in the case of McKeen-Chaplin v. Provident Savings Bank. The U.S. Court of Appeals for the Ninth Circuit overturned...

There's a race on to see who will be the first to deliver a best-in-class lending automation product that the consumer trusts, said consultant Paul Hindman...

Overtime pay for underwriters will remain a focus of litigation because courts are split on the issue, according to the Mortgage Bankers Association.

Time to audit your closing agents?

According to interviews conducted by Inside Mortgage Finance, several large nonbanks continue to hire, including Amerihome, Quicken Loans, and United Wholesale Mortgage, among others.

If you’re opening a new mortgage company it stands to reason that the two least likely places you’d pick for your headquarters are New York City and San Francisco.